I am new to this whole thing and didn't even realize we had any interests in the O&G boom that has taken hold here. This past Saturday our family discovered that we own Oil and Gas mineral interests in Noble County. These were inherited from my grandfather. The family members affected were all sent a certified letter from an attorney representing the real landowners that wants to declare the interests abandoned. We have done some checking and see that we can file for an affidavit of preservation. Has anyone else encountered this problem? Does anyone have any advice?
Thank you very much Jeanette Smith I am Mandy's sister and is a part of all of this, Thank you to everyone who has been giving such great advise, I will most defiantly take all of this into consideration.....
I have forwarded a link to this discussion to those family members who have an interest so that way they are all able to see for themselves the advice and information that has so generously been shared. Thank again everyone for all of your valuable insight! Fingers crossed things are headed in the right direction.
You're welcome - I speak from experience!
I just wanted to update everyone who has been helping us out with their advice. The surface landowners of the property had their attorney go ahead and file the abandonment with the recorders office. This was done before the 30 day mark that was stated on their Notice of Abandonment. In the Abandonment that they filed, they started referencing the old version of the ORC regarding the Mineral Rights. Well, in the meantime we were getting an Affidavit of Preservation filed in the recorders office as well. As it stands currently, the Coal Company (surface landowners) filed the Abandonment that was dated 5/21 and our Affidavit was filed on 5/23. We are still waiting to see what happens next.
I am not sure how the Coal Company can start out handling this using the 2006 version of the ORC and then switch in the middle of the process and try to go under the old ORC. From everything I've read and heard, we have preserved our rights by filing the affidavit. I believe if the Coal Company wants to really push the issue, I assume they could push for litigation. My 2nd cousin is in the process of consulting another good O&G attorney in the event we need to go any further.
In the midst of all of this, we have all signed a lease with the O&G company that also has a deal with the Coal Company. The O&G man that we have all dealt with from Rex Energy has stated that he doesn't think the Coal Company will be successful in taking our rights. He doesn't think Rex would have him running all over the place tracking us all down and finding deeds, wills etc. if they didn't think we would be involved.
So anyways...that's where we stand now. I am hoping that we get some concrete resolution before the summer is out. Thanks again for all the articles and advice, they have truly been helpful!
I have got my fingers crossed for you and your family.
Pleased to hear of how you are handling things.