Suspended 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.
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.
Therefore, 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: