https://www.reddit.com/r/oilandgas/comments/1isvugt/selling_an_old_lease/
created by Altruistic-Farm2712 on 19/02/2025 at 03:29 UTC
2 upvotes, 1 top-level comments (showing 1)
Not sure if I'm in the right place ...
Long story short is that I, through my mother, inherited oil rights to a well in the Illinois Basin. The well has been in the family for 4 generations, and as far as I know has not produced in years.
What, if any, options would I have here or how would I explore any options I have?
Comment by 0_throwaway_0 at 19/02/2025 at 03:51 UTC
2 upvotes, 1 direct replies
Read the documents that you have and come back when you have more info.
Leases often expire if not held by production, so if the only well on the lease has been non productive for years, you will want to check whether it’s even a valid lease anymore.
If what you have are mineral rights (seems more likely if it’s actually been in the family for 4 generations…) then there’s no risk of expiration.
There are brokers who specialize in helping owners sell these kinds of things, but they work on commission and they’re unlikely to get involved if there’s no juice to make it worth the squeeze.