MRP 81: Listener Questions – Part Two

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MRP 81: Listener Questions – Part Two

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In this episode, we finish up with Part Two of our 2020 Listener Questions by answering questions that were submitted by Jonna, Kevin, Marla, and Sean. If you haven’t listened to Part One yet, be sure to go back and listen to Episode 80 as well. 

Thanks again to everyone who left a review or who submitted a 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

What Should I do if I Find Mistakes with My Royalty Checks and How do I Correct Them?

I inherited mineral interests from my paternal 2nd great grandmother, a civil war widow, in Dimmit Co, Tx. Interest in Eagle Ford began in 2012 and royalties began in 2014 & are paid by Chesapeake, who has filed Chapter 11 bankruptcy. I’m so glad I found your site because I need sources of information to double check appraised values, production, royalties paid, as well as to know what rights royalty owners have in chapter 11 and what paperwork I need to file, etc. 
My #1 challenge is finding mistakes and getting them corrected – example: this year we received a “correction” of $12K of back- royalties from 2014 forward. They wouldn’t/couldn’t/didn’t give me any explanation. What if that had not been caught by them? How much had they underpaid in total to all the royalty owners ? Was it on purpose? Do they also owe interest or penalties for not paying all the royalties owed? Who’s keeping watch, auditing to make sure they are accurate?
 As an accountant, accuracy is important to me. 
Thanks!

Jonna

What Does the Decimal Number Net Acres Mean?

Hi Matt
I listened to your podcast on NMA and NRA. I am confused on the NMA part. Our lease on 54.449 acres says on the last page: “ property described as follows: 54.449 gross / .54449 net acres”. So what does the decimal number net acres mean? Do we have less than one acre or do we have about half of 54 acres? I am confused.
Thanks

Kevin

We Inherited Mineral Rights From Our Great Grandmother But Do Not Have Title . . . What Do I Need to Do?

My brother and I inherited Mineral rights in  Loving Texas.   We found out from a letter from (a mineral buyer).   We were offered 1875.00 each for non-producing property.  When we spoke to them again, they  increase it to 2500.00 each.  My brother took the deal while I’m still trying hard to get educated.  We do not have title it’s my great grandmothers.  I found out the warranty deed number in loving county.    I am not great at the computer so I heard about your great Podcast . The clerk at Loving county told me I need an Affidavit of Heirship.  Since I have no clue how much i own and it’s probably non producing , I’m not ready to pay for title yet.  If it is worth something more in later years i just want to get contacted again to ensure that, what do I need to do? The clerk  from Loving is looking into my warranty deed.    From Your Podcast it looks like its  a hot area..  Do you Think I should just sell or keep doing homework. Thank you, 

Marla

How do I Find Well Production and Other Info For My Area?

Your podcast was fascinating and really informative! My parents own mineral rights on 320 acres east of Cheyenne and have negotiated/signed a lease with an E&P co.  They’ve received documents related to permit filing with Wyoming Oil and Gas Conservation Commission (WOGCC) related to applications for 13 different wells.  These wells are on 2 pads  (I think I said all that correctly!)  I’m guessing this is a pretty good indication they plan on moving forward with drilling??!!
The proposed wells are on adjacent lands – because they are horizontal wells my folks mineral rights come into play, correct??
I’m curious how to find out comparable well production statistics, timing of exploratory and full production well information—and generally, any other info I can get my hands on.
Again, great podcast…looking forward to more!!

Sean

Resources Mentioned in this Episode:

Royalty Audits

Knowing What You Own: Net Mineral Acres vs. Net Royalty Acres

Inherited Minerals & Royalties – Clearing Title, Thinking About Selling

Researching Nearby Activity and Well Data:

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