Oil/Gas/Suspense Accounts
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Question
I live in Texas and I would like to know how to approach a company that we have reason to believe is holding royalties that belongs to our family.
How do we approach the company to ask about these funds? Do we supply abstract number, survey number, well number? How can we check how many wells were built in this section of land and if we ask, will the oil company supply us with a copy of the title opinion to this property?
Thank you.
I'm going to attempt to answer your questions in the order in which it makes more sense.
First, if you will check with the Texas Railroad Commission, they should be able to give you the well names of the wells producing in the Survey Name you provide them with. However, this doesn't mean that these are the only wells you should be receiving royalty revenue from. Your survey may be part of a larger Gas Unit, and you should attempt to ask the Railroad Commission about this also. If you provide them with the Abstract No., and the Survey Name, that should be sufficient information for them to obtain the information for you.
As to how to approach the companies that are holding the revenues, you should do that in writing, and you should provide them with documentation that puts you into ownership of the property, i.e., a Cash Sale Deed, a Judgment of Possession, etc.
They in turn will send you a Transfer Division Order for execution which should place you into payment.
Also, you can check with the State of Texas, "unclaimed funds" division - and see if your name shows up in any counties there.
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Answers by Expert:
Laura M. FitzGerald, CPL
Expertise
PLEASE READ CAREFULLY BEFORE SUBMITTING A QUESTION. I can answer all questions related to oil and gas ownership, mineral interests and working interests concerning the leasing and selling of your minerals, any questions concerning pipeline ROW's, units with the Louisiana Department of Conservation; pooling provisions, depth limitations, vertical or horizontal pugh clauses; and oil and gas terminology. I can offer assistance in negotiating for leasing your property, assisting in locating owners of suspended funds. I am only able to answer questions regarding oil and gas leases, minerals, royalties, or offers to purchase mineral/royalty interests if I have complete information. Please provide a full legal description for your interest(s). If the question pertains to a lease, please include all terms of any current (or desired) lease offers, including lease bonus amount, royalty and lease term. If the question is regarding a mineral or royalty interest offer to purchase, please provide the offer amount, date of offer, other offer terms, and further details on the mineral/royalty interest, such as lease terms, and if producing, the average monthly income. Since I receive numerous inquiries daily, I am only able to answer your questions efficiently and effectively if I have complete information. I must decline any questions submitted with incomplete information. If your question is non-technical in nature and you simply need assistance understanding an oil and gas matter, please submit your question with as much information and detail as possible. Any background information that has led to your question is also very helpful.
Experience
I have over 26 years experience as an Independent Petroleum Landman. I became a Landman after working as a paralegal for Oil & Gas Attorneys for 8 years. My first 2 years were spent specializing in Well History and Research with the Louisiana Department of Conservation, then moving into clearing title defects and handling title curative for oil and gas properties for the next 6 years. Subsequent thereto, I handled title issues, buying oil and gas leases and settling surface damages. I also acquired acreage for drilling prospects in excess of 10,000 acres. I also became a mineral/royalty owner commencing in 2004 and have found that I can help many people when they have reached the point in their lives they feel converting their minerals or royalties into a cash asset benefits them.
Organizations
American Association for Professional Landmen, ArkLaTex Assoc. of Professional Landmen, and Dallas Association of Professional Landmen (DAPL), Certified by the Women's Business Enterprise National Council (WBENC)- South. This certification is one of the most widely recognized and respected certifications in the nation. This designation is reserved for only those women-led businesses that exemplify the characteristics of integrity and professionalism to which the WBENC adheres to so strictly.
Education/Credentials
Attended LSU, became a Certified Professional Landman in 1994; Notary Public with dual authority in multiple parishes in North Louisiana;
Bilingual in English and Greek
Awards and Honors
Expert Oil & Gas Professional assisting attorneys representing landowners.
Involved in 2 lawsuits and both suits were awarded to the landowner.
Past/Present Clients
Consultant Landman for Texas Oil & Gas (TXO Production Corp.), Anadarko Petroleum, Comstock Resources,Independent Geologists, Pipeline ROW Clients, and Oil & Gas Attorneys. For the past 2 years my practice is limited to advocacy for the landowner. I also assist royalty owners recover suspended payments or incorrect royalty payments.
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