Frequently asked questions
What are the advantages of selling my mineral rights?
Selling can give you a large cash amount up front that you can use to invest in other assets, pay for college tuition or purchase a new vehicle, boat or RV. There are also certain tax advantages to selling, such as a 1033 exchange.
How long does an oil and gas lease last?
A typical oil and gas lease last for 3 years, some leases have an option to extend for an additional amount of time, which usually includes an additional bonus. If an oil and/or gas well is drilled on your property during the primary term of the oil and gas lease, the lease will remain in effect so long as the well produces oil or gas.
What is a pooling order?
Forced pooling causes the proposed operator to search records in the county and other sources to determine all persons with the right to drill and locate them with their correct addresses.
What is the difference between gross acres and net acres?
Gross acres refer to the total surface acres of land, for example, the SE/4 of a certain section contains 160.00 gross acres. As a mineral owner, you would own a fractional interest in the gross acres of the tract, if you owned an undivided 1/4th interest in the same SE/4 then you would own 40.00 net mineral acres.
When will I recieve my check?
Most of our deals close within 30 business days, or less, if title is marketable per Oklahoma Title Standards.
What does marketable title mean?
Per Oklahoma's Marketable Record Title Act: A marketable title is one free from apparent defects, grave doubts and litigious uncertainty, and consists of both legal and equitable title fairly deducible of record.