Mineral Rights 101
Minerals and Inheritance
The main problem many families have is even knowing that they own minerals. There are rumors that a parent or grandparent owned minerals, but no one really knows where, how many, or how much. Many families spend years trying to determine what they own and where it is located. Even then, if the paperwork is not transferred, your checks can be held in suspense until you prove the death of the previous owner and your ownership of the estate. This can cost a family a lot of money and pain. Luckily, there are solutions to help families get their portfolios in order. MineraliQ is a simple, free solution that allow families to track revenue, wells, and value of assets. It can be included in your estate plan by adding your login information in a legal document, such as a will or subsequent account sheet, where other important information (like bank account numbers) is stored. If something does happen and your next of kin needs help in getting the proper documents to operators, MineraliQ can help. Since MineraliQ processes the revenue checks for more than 150 operators, representing almost 90% of U.S. production, we have firsthand knowledge to provide peace of mind.
For families that receive less than $250,000 in annual revenue from their minerals, MineraliQ is there to help. Not only is MineraliQ free, it is the only service that provides direct access to your checks from more than 150 operators automatically every month. MineraliQ is backed by Enverus, the leading energy analytics company, so you will have access to the most up to date rig, permit, and well information on the market to help you understand the value of what you own. For those that have more than $250,000 in annual revenue, you can continue to use MineraliQ at no cost or choose to manage your assets more actively with MineralSoft.
For those trying to get a better handle on what they own or just inherited, there are two main activities owners need to track. Revenue is the first. Many families just receive mailbox money—a monthly check to cash. These checks are either stored in a folder or thrown away after cashing, leaving little to no paper trail for family to know what was paid. MineraliQ will track your revenue every month for each operator that pays you. Since we automatically bring in more than 150 operators every month, there is no additional work on your end once you connect to MineraliQ. If you have an operator or check that does not show up in MineraliQ, you can manually add them at any time.
Wells or properties are the second thing that families need to track. MineraliQ automatically will determine the wells you are being paid on and add them to your My Wells dashboard. You can add or delete wells on this list at any time. My Wells allows families to track rigs, permits, and wells around their properties to better understand what their assets are worth and if new wells are being drilled. We are the only company that tracks daily rigs through GPS units so we have the most up to date information on wells being drilled around your properties. No more guessing or checking with regulatory websites to understand where your assets might be.
Passing on an inheritance or estate is an emotional time. Let MineraliQ help take some of the burden off your family or estate planners by making it easier to track both your revenue and assets. For those that are inheriting these assets or are not sure if they want to own minerals, let MineraliQ make managing hands-free.