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About Laura M. FitzGerald, CPL
Expertise
I can answer all questions related to any oil and gas leases, mineral sales, pipeline right-of-ways, LA Dept of Conservation Units; negotiating with landmen for leasing your property, assisting in locating owners of suspended funds.

Experience
26 years in the field and owning my own land services company; being a royalty owner, and participating in drilling wells

Organizations
American Association for Professional Landmen, ArkLaTex Assoc. of Professional Landmen, and Dallas Association of Professional Landmen (DAPL), Women's Business Enterprise National Council (WBENC)

Education/Credentials
Certified Professional Landman, attended LSU, Notary Public

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Oil/Gas - Suspense Accounts

Expert: Laura M. FitzGerald, CPL - 11/9/2009

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.

Answer
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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