Monthly Archives: May 2017

Track Your Mineral Deed

How did you get your mineral rights? Did you buy them? Inherit them? Did your farm get leased? Do you know other than someone told you to file an affidavit of heirship and get the money rolling in?

To value your mineral, the valuer needs to know what the legal description is – first and foremost. So you need to provide the legal and by that I don’t mean the Oil and Gas Lease (OGL) description. Those are generally generic and non-specific. The valuer needs to know the net mineral acre (NMA) you control.

That may be shared interest with others. And by interest, we are not talking about a specific well. You may be in a large drilling unit, but your interest in that unit is defined somewhere by someone.

If you are the landowner with a true “fee simple” estate, you have the mineral rights. And the legal description of your property is the legal description of the minerals. That deed is recorded in the courthouse in your local county. If you have a deed for the minerals then it too should have been recorded in the courthouse.

But if you kept the minerals from a fee simple estate where you sold the surface or you inherited minerals from that kind of “severed” mineral estate, then the deed should state the minerals or some portion thereof are separated from the property. Those are the legal descriptions I talk about.

Track and store those mineral interests and you will save your heirs a lot of grief later.