MRP 212: Listener Q&A – Leasing, unclaimed royalties, investing, depletion deduction, and more!

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MRP 212: Listener Q&A – Leasing, unclaimed royalties, investing, depletion deduction, and more!

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In this episode, we answer more of your questions from hiring a mineral manager to how to start investing in minerals & royalties, this one covers a lot of ground. Thanks to Kelly, Alex, Jim, Anna, Joan, Erica, and others for submitting your questions!

My upcoming Mineral Management Basics course addresses many of the common questions that I get around the different types of mineral and leasehold interests, how to read a legal description, and how to identify nearby oil and gas activity. Be sure to sign up to be on the wait list to be notified when it launches later this year! In the meantime, if you would like 1-on-1 coaching, you can send me an email at feedback@mineralrightspodcast.com.

There is also an amazing free tool that can help you automate some of the things related to tracking nearby activity and tracking your royalty payments. Which brings me to the sponsor for this episode:

MineraliQ is a free online platform for mineral owners which will automatically connect to your well data – helping to track all your royalty check payments and portfolio value.  Discover what your minerals are worth in real-time, view royalty payments, track income trends, and know the exact location of your properties using their interactive map.  Activate your free account today by clicking the link here: MineraliQ.com

Thanks again to everyone who left a review or who submitted a listener question!  If you have a question about your minerals or royalties, you can send it to feedback@mineralrightspodcast.com and who knows we might just answer it on the air!

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Listener Questions

Do I have to hire a certain kind of lawyer to get a contract with a gas production company?

Kelly Ramos (from YouTube)

Question #2

I have a 1 acre land and they are planning on drilling 4 wells around my area. im located near the coast of texas. do you know the estimate these royalty checks are if everything goes smoothly and they drilled enough oil. i am new to all of this and just curious how it goes

@alex-iw9ki (from YouTube)

Question #3

Awesome Matt thank you for your time, just came across your channel and subscribed, I work in the field, recently invested in a DPP and also looking to set up an LLC to buy mineral rights but honestly don’t know where to begin, do you think you could expand on those to subjects?

@whatsnext9657 (from YouTube)

Question #4

I just got a “paid up” oil gas lease. Outta 60 gross acres I own 0.05580 net mineral acres with a 3/16 royalty rate. Is it worth negotiating? Thanks for any advice

@HardWorkENT23 (from YouTube)

Question #5

Matt,

Without giving accounting advice, I wonder if you can answer one question about cost depletion vs. percent depletion?

The IRS allows mineral owners to take the larger of the two when filing their tax returns. Percentage depletion is certainly simpler, but cost depletion may be more favorable.

Question: Where can a royalty owner get an estimate of the recoverable reserves for a well on which they are receiving royalties?

The volume produced divided by the recoverable reserves times the cost basis in the property determines that year’s depletion, but where can small royalty owners get the data to do the calculation?

I thank you for your podcast and the valuable information you provide to all of us!

Thank you,

Jim

Question #6

How do you know that the gas and oil revenue you’re collecting is the amount it should be? 

Anna

Question #7

Good Afternoon Matt 😊,

Do you have a list of all the podcasts? I like to enter this data into a spreadsheet and note when I watched each episode.

Joan

Question #8

Hello, I have just discovered active mines in placer county. The land is land that was bought by my mother’s father. My aunt and uncle said that my grandmother did not have a will.  There are royalty payments that are [escheating?] to the state of California (San Juan Basin). 

My mother’s grandfather had patent homestead dated back to 1871. There are oil [rights] in Texas, Oklahoma, and California (Kern county, Shasta county, and several other places. I do not know what to do. If you can help me. Thank you.

Erica

Resources Mentioned in this Episode:

Matt’s YouTube Channel

Interested in Investing in Minerals and Royalties?

Taxes

Negotiating an Oil & Gas Lease

Mineral Rights Education

Unclaimed Minerals

Title Search

Thanks for Listening!

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Thanks again – until next time!

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