@@MannyG32968 Thank you for the suggestions. Talking about royalties in suspension would pretty easy but I have to do some real research regarding taxes in each state.
Thanks for the video; very clear and helpful. Suggestion: I think the whoosh and image rollover in between sections should be replaced with something less distracting.
Thanks. I agree. This was my first RU-vid video, so I really had no idea what I was doing. My more recent videos have a smoother transition, but there is still a lot of room for improvement! I'll keep your feedback in mind as I plan future videos.
Very informative videos! I’m new to this type of oil and gas business, I just started working as a land tech for an oil and gas auction marketplace. There are a lot of things, language specifically, I’m still getting used to. I do hope you create more content. You just received an avid viewer and subscriber right here!
Thanks! I have a whole list of videos to make but I'd love to hear your suggestions. I occasionally buy minerals in online auctions. Which one do you work at? Feel free to email me at mineralrightsinsight @ gmail.com - I'd love to hear about your experience.
Thankyou for teaching us your knowledge on this subject .you have been very helpful in helping me understand this process please continue to produce more videos .i would like to know how to get back payments of royaltys never collected and treasury dept holdings ect
Thank you for the kind words and video suggestions. The topic of getting back payments of royalties might require some legal help. It depends on why you aren't receiving payments. This could be as simple as transferring the mineral to your name or perhaps needing to "cure" the title. It could also be complex. Start by contacting a landman or an oil and gas attorney. There may be a statute of limitations as well.
This video makes me wish I owned everything outright. I remember you saying that that's pretty rare though. The oil company is making a killing. I understand the statement much better now. Thanks.
Yeah, it's pretty rare to own all of the mineral rights - especially in older oil and gas fields where the rights have been passed from generation to generation and are heavily fractioned. Even if you owned all the minerals, you would probably not have had the millions of dollars required to drill a well, so you would probably have signed a lease anyway, giving you, at most, 25% of the royalty revenue (minus gas processing fees if your lease allowed that).
Thanks so much for the well made vid! We have around a thousand acres of mineral rights split up among my family. About half of those acres are leased and have producing wells. The other acreage is NOT leased or producing. How can I sort out which is not leased to go into the oil and gas co that has our other leases and try to get them to lease. Much appreciate your help.
It's a long and tedious process. You might want to start by creating a spreadsheet with everything you own. It will probably be easiest to figure out what is producing because you can get a lot of information from your royalty statements. To find non-producing minerals, you may need to locate all of the deeds in the various counties and manually look up each legal description to see if there are any wells (and if those wells correspond with the wells on your royalty statement). You may find wells that are not in pay status too!
Great question - I was just thinking of making a video about this. There are several auctions that you can participate in. If you are a high net worth individual (qualified investor), you can buy various types of interest on EnergyNet. Otherwise, there are auctions that are open to everyone - just google "mineral rights auction" and you'll see several options. You have to be careful, though, because a lot of minerals you see in auctions are overpriced and you'll never make your money back. You can also look through tax sales and county auctions, which occasionally offer mineral and royalty interest for sale.
@@BlueMesaMinerals also I would like to advise you that people like me are very obsessed with the topic passive income. What I am trying to saying is this Topic about oil royalty is a keywords who is not easy to find and I know is not very explained in the internet for example how buy and how sell for (non whealthy people. If you can add in your Keywords the word Passive income you going to get more views and more audience. As example how create passive income buying oil royalty. I hope you understand because I know my grammar is suck but I hope your channel grow this is a topic that regular people like me we do not have access to learn at least we are in the game. Thank You!
@@raphaelcabrera1271 This is a great suggestion - thank you. I know there are a lot of people who are interested in passive income but I never make the connection between passive income and mineral rights. I'll consider adding these keywords and even making a video specifically for people who are interested in buying mineral interest for the sole purpose of generating passive income.
I sold my mineral rights in May of 2022. The first working producing well was drilled in 2018. I need to determine the value of my mineral rights as of 2002. My father died in 2002, so I can write off the mineral rights value as of his death. Thus, I avoid needing to pay Capital Gains on that value. The mineral rights are located in Duchesne County, UT. Active oil/gas activity was not prevalent in the area until around 2008. Since technically, there was no demand for purchase of oil/gas mineral rights prior to 2008, I can't refer to sales documentation for estimates. How do I determine the value in 2002?
Sometimes operators don't know who the heirs of mineral owners are (or they can't locate them). Other times there is a problem with the title. When an operator is unable to pay a mineral owner, the royalties are put into suspense. After a certain amount of time, which varies by state, the funds are turned over to the state's unclaimed property (just google "unclaimed property" and do a search for your family members). Check with your state, but there may be a statute of limitations on royalties. If you call the operator, they can usually tell you what you need to provide in order to clear the title and get into pay status. This might require the assistance of a landman or oil and gas attorney.
