Harbor Energy Announces New Guidance For Families On What To Do With Inherited Mineral Rights
“We talk with a lot of people who inherited rights,” said Blake Thompson, owner of Harbor Energy.“They did not go out and pro-actively buy them. Instead, they inherited the interests. This may have been many years back. They may have never had a reason to learn much about the property until they receive a royalty check or a purchase offer.”
Inherited mineral ownership is common in oil and gas producing states such as mineral rights in Oklahoma ( ) and mineral rights in Texas ( ). Over time, mineral rights are often passed down through generations and divided among multiple family members. In many families, mineral interests have passed through multiple generations. Now, they may be divided among children, grandchildren, or even other heirs. This means that the actual value of royalties may be less than the "hassle" of owning them.
Harbor Energy recommends that owners first determine what they actually own before making a decision. Useful information may include the legal description, county and state, net mineral acreage, existing lease terms, producing wells and recent royalty statements if the property is currently producing. Factors include: the acreage being purchased, the interests covered by the offer, title requirements, closing terms and assumptions used in calculating the initial price.
Offers may also be based on assumptions about lease terms or royalty burdens. For example, a buyer may initially calculate an offer assuming a 25% lease royalty. Later, however, title review may show it to be different. It may show that the minerals are burdened by a lower royalty. These updates may reduce the actual purchase price.
“Complexity doesn't necessarily mean improprieties occurred,” Thompson said.“Instead, the owner must know the factors that went in. The price could change after title is reviewed if an offer is structured that way, and owners need to be aware of this.”
For some families, selling inherited minerals can also simplify management. A divided asset may just not be worth the hassle. Multiple heirs may be involved. Other owners may prefer to retain the property. Why? Because they want small but future royalty income. Getting informed, including soliciting multiple offers is a best practice. One resource is at .
“There is no rule that says inherited minerals should be sold,” Thompson said.“Our role is to evaluate the property, make an offer when it fits what we're looking for, and give the owner the information they need to decide whether selling makes sense for them.”
ABOUT HARBOR ENERGY
More information about Harbor Energy, its process, and educational resources is available at . Harbor Energy, LLC is a family-owned mineral and royalty buying company based in Norman, Oklahoma. The company purchases oil and gas mineral rights and royalties throughout the United States, with a particular focus on Oklahoma and Texas. It is committed to fair offers, transparent communication, and fast, hassle-free closings with no obligation and no out-of-pocket costs for sellers.
Lee McDonald
JM Internet Group
+1 415-655-1071
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