We know that understanding and managing minerals can be challenging. However there are a lot of financial benefits to managing your minerals and we’ll help make this process as easy as possible. We have a base set of tools that are free for mineral rights management:
- Understand future revenue by tracking new production as it is reported on your wells
- Track potential large increases in future revenue by being notified of new planned wells near or on your property
- Help yourself and future heirs track what you own with simple, secure online storage for key documents
Once you’re signed up here are 3 simple mineral rights management tools to do the work for you
Step 1, Track Your Wells: We have done the hard work of taking the regulatory data and making it easy to use. We’ll walk you through a process of locating your wells. Once you find your wells, you can save them so you don’t have to search for them again. This will allow you to track new production and status changes for your wells. If you don’t have producing minerals, you can skip this step but step 2 will be very important.
Step 2, Tracking Planned Wells in Your Area: When an oil company wants to drill a new well, they must submit an application to the state with the drilling plan. These are known as permits. A planned well on your mineral rights or even near your mineral rights can greatly increase the value of your property. Often, you’re flooded with offers to buy your property when permits are filed. Being notified of new permits in your area can help you stay informed of the value of your assets.
Step 3, Get Organized: The MineralAnswers Vault is a secure, simple, free cloud-based storage service. Organizing key documents such as deeds, wills, leases, and revenue payments will make life easier for leasing, selling, or passing along your assets to future generations.
These three things are a great start. Along the way take advantage of our educational resources to help you out with more specific tasks and for learning more about the industry. If at any time you get stuck with this process, reach out to us directly. Your success is our success and we want to help.