Managing your mineral interests can be time consuming and overwhelming. The key to make the most with your minerals is to manage your mineral assets like a business. There are many factors in minerals management such as knowing the extent of the family’s mineral holdings, proper conveyancing and public filings (so landmen and producers can find your family), leasing and negotiating lease forms, reviewing monthly check details to ensure proper royalty payments, accounting for bonuses and royalties, taxation, reviewing division/transfer orders, mineral sales and acquisitions, and a basic working knowledge of oil and gas law.
It’s one thing to have the goods – the valuable mineral interests than can lead to royalties and other forms of oil and gas production payments. It’s another thing to translate those goods into actual transactions, whereby reputable oil and gas producers pay top dollar for access to the minerals. Many mineral holders have the goods, but lack the skills or expertise to at tract the best oil and gas transactions for their mineral interests.
Some mineral interest owners don’t have time or resources to manage their mineral assets, so they hire professional bank managers to oversee their family’s oil and gas affairs, at reasonable fees. Bank managers and trustees often have much institutional knowledge of oil and gas areas, specific plays for specific fields, market data on comparable leases, and other expertise for helping with minerals management. Holmes PLLC is a preferred outside law firm for many bank managers and trustees in Texas, New Mexico, other southwestern states, and Marcellus-Utica Shale states.
Other mineral interests owners find professional management through banks or trust departments to be overly expensive and hard to ascertain. These owners opt for a more hands-on approach to managing their mineral interests. They use family staff, or a family accountant, in conjunction with an oil and gas law firm having expertise in conveyancing and public filings, leasing and negotiating lease forms, reviewing monthly check details to ensure proper royalty payments, accounting for bonuses and royalties, taxation, and reviewing division/transfer orders. Holmes PLLC works with several family offices in order to assist them with their minerals management.
Whether working with banks, professional trustees, or family offices, Holmes PLLC has experience in organizing and maintaining clients’ mineral asset files. Holmes PLLC routinely helps clients negotiate leases, review monthly check details, gather origination documents, create manageable filing systems, and many other elements in managing mineral assets.