Oklahoma Mineral Consultants

Oklahoma Mineral Consultants is an Oklahoma-based oil and gas firm dedicated to helping mineral owners manage their assets and prevent potential exploitation.

Mineral owners often face challenges such as assessing ownership interests, understanding their rights, and ensuring lease terms are followed. These issues can lead to financial losses or disputes. We provide comprehensive support, including detailed ownership assessments, rights education, and ensuring lease compliance. Our services help mineral owners make informed decisions, protect their interests, and maximize the value of their assets.

A typical consultation lasts between 30 minutes to an hour but can be extended to address all your questions and identify any potential issues.

Title examinations provide a clear understanding of ownership, any encumbrances, and identification of potential disputes. They are essential for accurate estate planning and informed decision-making.

Our standard for a detailed title examination covers a minimum charge of two days, which can vary depending on the county and the complexity of the chain of title. In most instances, we find that two days should be sufficient to cover one chain of title. However, if it appears that the title examination could require more time than two days, we will inform you in advance of the cost for the estimated additional time and allow you to decide whether or not you wish to proceed.

We want to emphasize that clients who have been pooled and have elected a title examination will be given priority, as they are on a deadline with a limited window of 15-20 days for their pooling election response. Depending on our workload, we typically provide results within a week or less, although we cannot guarantee an exact timeframe. Rest assured, we will maintain regular communication with you to ensure that we are delivering the best possible service tailored to your needs.

If you have potentially important, non-indexed or unrecorded documents related to your inquiry, feel free to have those readily available in the event we need to review. For most inquiries, you don’t need to prepare documents in advance. We can assist with a wide range of mineral-related questions.  If you were recently named in a pooling or spacing order, providing the order number can be helpful. Generally, you don’t need extensive documentation in advance.

Local leasing activity can lead to better lease terms, higher bonuses, and royalties due to competition among companies. Researching lease clauses and timing can help you make informed decisions. Always remember, the first offer is generally the worst offer.

If you receive an offer letter from an Oil and Gas Company, it’s crucial not to rush into a decision. Take the time to carefully review the offer and understand its terms and conditions. Consider seeking guidance from mineral rights experts or consultants who can assess the offer. Understand your rights as a mineral owner, including your ability to negotiate for better terms. Be aware that some offers may have expiration dates, but keep in mind it’s important not to feel pressured to accept their initial terms immediately. It’s essential to approach this opportunity with careful consideration and, if needed, professional assistance.

Force Pooling is a legal process that allows an Oil and Gas Company to consolidate mineral owners within a drilling unit when they cannot locate all owners or reach an agreement. The Oklahoma Corporation Commission has the authority to pool your mineral interest in such cases. This underscores the importance of ensuring that necessary probates have been filed of record, that your title has no gaps or ambiguous conveyances, and your address of record title is current. If you’ve been named in a pooling order, you typically have a limited timeframe, often 15-20 days, to elect a royalty and/or bonus. Failing to act within this period usually results in defaulting at the lowest royalty rate. Not responding to a pooling order could significantly reduce your potential royalty earnings.

Conveyance issues are common with mineral rights and can be complex. Proper conveyance ensures clear ownership and prevents future disputes. We review the historical instruments to verify the chain of title and help identify any gaps or errors. If we find issues beyond our expertise, we may recommend seeking legal counsel to resolve them.

When considering Oil and Gas Leases, it’s crucial to take into account various factors beyond just royalty rates, bonus payments, and the primary term. Lease agreements can be complex, with numerous terms and provisions which are favorable to the mineral owner. Instead of executing a standard form, boilerplate lease, seeking professional assistance is often advisable.

We recommend letting professionals interpret lease provisions for you. We have the expertise to dissect lease agreements, understand minute details, and explain how certain terms are beneficial to the mineral owner. Again, unless it’s your last and only option, signing a standard form lease is generally not advisable. In such cases, we may even recommend considering force pooling and electing as a better alternative. Remember that in the realm of mineral rights, the first offer is often the least favorable one. We can help you assess and secure more advantageous lease terms.

Although we have worked throughout Oklahoma, Texas, Kansas, New Mexico, Ohio, Colorado, and Wyoming, our main focus is in Oklahoma. It’s important to note that the legal standards, proceedings, and authorities overseeing Oil and Gas production can vary from state to state. If you have concerns or questions regarding properties outside of Oklahoma, we will do our best to assist you. However, please be aware that each state may have its unique legal nuances, and if the issue is complex and falls outside our realm of expertise, we are committed to conducting thorough research to provide you with the most accurate information we can.

We want to emphasize that we have no interest in buying or leasing your mineral rights. While there may be offers from various companies to purchase your mineral rights, those making offers are often privy to information that you may not be aware of. We generally don’t recommend selling mineral rights unless you are in desperate need of cash. Our primary focus is to provide guidance and assistance to mineral owners in safeguarding their interests. Our company is not here to aid or persuade you into selling your mineral interests to us or anyone else. There are already plenty of other companies eager to profit at your expense. Our core mission is to help you make informed decisions and navigate the complex landscape of mineral ownership to your advantage.

No, you do not need a substantial amount of mineral rights for our services to be beneficial. However, we would not recommend a full title examination if you believe you own less than 1 mineral acre, as it may not be cost-effective for such a small interest.

Nevertheless, even if you own a small mineral interest, a single consultation on leasing or pooling can be well worth the investment. It can make a significant difference, potentially leading to thousands of dollars in additional earnings and the possibility of multiple leases in the future.

If you suspect underpayment or irregularities in the royalties you receive, our services can help. We can provide a production check to determine when and how much production has been reported to the Oklahoma Tax Commission (OTC). This thorough examination can shed light on any discrepancies and ensure you receive the correct royalties you are entitled to.

It’s worth noting that negotiating a favorable lease from the beginning can make a significant difference in your royalties. Depending on the results of our production check and the nature of the irregularities, we may recommend seeking legal counsel to address any potential issues or disputes.

At this time, we do not negotiate oil and gas leases for our clients. Our goal is to empower mineral owners with the knowledge and tools they need to handle these negotiations on their own. We believe that every mineral owner has more power and agency than they might realize, and we strive to bring this to light. While mineral management is not our primary focus right now, our offerings may evolve in the future. Regardless, our commitment to transparency and empowering mineral owners remains steadfast.

We cannot resolve disputes related to mineral ownership or lease agreements, as we are not lawyers. However, we can provide guidance and information to help you understand the issues at hand. For legal disputes, we recommend consulting with an Oil and Gas Attorney who specializes in mineral rights. Our primary role is to empower you with the knowledge and tools needed to navigate the complex landscape of mineral ownership and make informed decisions.

Drilling technology has advanced significantly, even over the past decade. In the 1960s and 1970s, oil and gas wells were often more speculative, with higher risks for oil and gas companies in terms of drilling success. This justified a lower royalty rate, as the oil and gas companies were taking on a higher risk.

In contrast, the modern era of drilling experiences an almost negligible number of dry holes, the cost of drilling a well has proportionately decreased, and wells tend to yield better results. It’s now common for a single well to access resources in multiple sections, further lowering financial risks for these companies. This underscores the importance of not entering into outdated leases and avoiding royalty rates representative of a bygone era, such as those from 1975.

Generally you should know because you should be receiving checks. However, to determine if your property has producing minerals, we conduct a comprehensive check across a variety of resources. Our process includes searching for completion reports, notifications of spud, plugging records, actual reported production data, spacings, as well as forced-poolings and increased densities. By leveraging these resources, we can deduce a thorough and accurate assessment of the production status of your mineral interests.