OIL & GAS MINERAL OWNERS

Oil and gas moneySuspended revenue from oil and gas properties makes up a lot of unclaimed property in the States that are known for having production.

There are a number of States with oil and gas production, but the primary States are listed below. A link to the agency or group in the State that is responsible for oversight of the oil and gas industry in each State is also listed. You can use this information to find out the operator of an oil and gas property based on the legal description of the property. The legal description can be found on property tax records, deeds, assignments or other similar documents.

Unclaimed property revenue from suspended oil and gas properties is most often found when going through the papers of a deceased family member. Another opportunity comes from reviewing old investments.

Mineral interests, such as the rights to oil and gas production, are capable of being separated from the surface land areas. That means, even though you, or your family no longer own the surface rights to a piece of property, the mineral rights, if previously separated, may still be owned.

CLAIMING TIP—Searching for oil and gas suspended revenue and mineral interests, outside the amounts already held in unclaimed property accounts, is more involved than other types of property. It is suggested that once you have found a potential property, you ask for assistance in development of the information. Contact us for assistance.

Finding lost mineral owners would be a time consuming process for oil and gas companies and could damage the rights of those owners that are known and the ability to get drilling operations started.

Oil and gas moneyTherefore, the producing States will typically have a process in place, usually referred to as a “pooling” to allow unknown mineral owners interest in the project to be “cured”, or handled when a new drilling project is proposed. These “pooling” applications are available from the States as public records and can be found through the links provided.

The search for “pooling” and other oil and gas records is more complicated than the usual search for unclaimed property.

We are experienced in these type of searches, contact us for assistance.

Link to Primary Oil and Gas Producing States:

Arkansas
California
Colorado
Kansas
Louisiana
Mississippi
Montana
New Mexico
North Dakota
Ohio
Oklahoma
Pennsylvania
Texas
West Virginia
Wyoming

 

CLAIMING TIP—Other type minerals and resources tied to property ownership have potential for being held as unclaimed property, but are not as significant an opportunity. Contact us if you would like to discuss a specific situation.