Statewide Minerals is committed to providing you with a quick response and a fair offer for your oil and gas royalty interests. If you would like to receive an offer for your royalty interest, complete as much of the information above as you can easily find, and we will get started. You are under no obligation to sell your mineral rights, but should you decide to, we’ll make the transaction simple and take care of all the paperwork for you. Alternatively, just email, or fax us a copy of the backup statement (check details) that came with your last royalty check or two, and we will get back to you with an offer. If you prefer to mail, email or fax us , please print out and send this form including copies of your last two or three royalty check stubs to:
Statewide Minerals 1011 W. Wall St. Midland, TX Fax: 1-800-554-1884
We will respond promptly with a no obligation offer, based on the information we receive from you. If you have any questions, please call us at 1-800-554-1884. Submit ONE form per property please.
In order to proceed with evaluating your property, we need verification of the revenue from the company (companies) paying you for the production. The best way to do this is to review a copy of the statement that came with your most recent check (or better, last two or three) you have received or other verification of interest and income.
We obtain our ownership from the County’s property tax records. In most states, you are only taxed if there is production from your royalty and/or minerals. Thus, you need to recover any unpaid funds prior to selling the property to us. We are unable to purchase your interest if you are not currently receiving checks.
Forward to us one of the following:
1) The statement from your next check, whenever it comes, or
2) you can request a “Revenue History” from the company paying for oil or gas from the lease
This would indicate that you own under a lease that is STILL PRODUCING.
Call the last known company from whom you were receiving payments (the Purchaser) and ask them why you are not being paid. You may be in “minimum suspense” meaning the checks must accumulate to a certain total amount before being released, or the Purchaser may have changed. The last Purchaser usually knows who the new purchaser is or at least who the Operator is.
The Operator is the company responsible for the day-to-day production from the lease and is responsible determining who will purchase oil or gas from the lease. The Operator may or may not be the same company as the company that should be paying you. The company paying you is the Purchaser. To get the name of the Purchaser, call the Operator to find out who is purchasing.
To determine who the Operator is, you may also look on your tax bill or valuation for the name of the Operator of the lease(s) under which you own. You can also call the County Tax Appraiser, Assessor-Collector, or Treasurer for the County in which the interest resides and ask them to look up your name in the oil and gas tax roll for your Operator’s name. Frequently, they can give you an address for the Operator which will assist you in finding the number in information. Sometimes the Operator’s name is also on our letter. Also, the Operator’s phone number can be located on the Railroad Commission Website at: www.rrc.state.tx.us
Once you identify the Purchaser, you can call them and ask for their Division Order, Royalty Relation, or Revenue Distribution Department and ask for assistance in determining the status of your interest.
This would indicate that the lease(s) you owned under is/are no long producing or you have moved and not notified the County Appraisal District of your new address.
Statewide Minerals has a relatively simple process to evaluate your interest and provide you with a prompt offer. We use your royalty income as a guide to the valuation and can make you a general offer based on a review of your last two or three royalty checks. We may also look at the following factors to formulate an offer:
If a well or lease produces at relatively high rates, then the future life of the well will probably be longer; therefore, the current value would be greater than for properties with lower overall production. If a well or lease is producing at economically marginal rates for the operator, the future life of the well or lease may be in question, thus possibly decreasing the current value.
We generally value properties based on current prices. If these change, the value of the royalty interest may go up or down.
Frequently, a graph showing the well or lease production to date will allow projections of the future production decline. We use such projections when evaluating royalty interests.
Severance and property taxes may be high, low, or nonexistent in the State in which your interest lies, and these may affect value.
If you have any questions about your royalty interest, we are happy to consult with you.
Call us at 1-800-554-1884
1-800-554-1884 1011 W. Wall St. Midland, TX