12/30/2022 0 Comments Oil wells for saleSales as of ģ Well Package (Producing MI/RI & ORRI) - Grady, Kingfisher and Oklahoma Counties, Oklahoma Interested buyers should contact EnergyNet at. These transactions are the sales of oil and gas related assets. The primary marketing strategy FDIC for the oil and gas interests is to offer such interests for sale at auction through an oil and gas contractor, currently. Once an oil and gas interest is identified as part of FDIC's inventory, no matter how obtained, FDIC then values the interest, verifies title, resolves title issues, and manages the asset (which may include entering into a lease), again in order to maximize the net present value of the asset. The newly created oil and gas interest becomes a part of FDIC's inventory Third, but more rarely, when an ORE purchaser desires to purchase from FDIC only surface rights but not associated mineral interests, FDIC itself, in order to maximize the net present value of an asset as a whole, may sever the surface and mineral interests by reserving mineral rights in its ORE deed to the purchaser. For example, if an institution routinely reserved mineral rights in its ORE deeds and the institution subsequently failed, record title to the interests may be in FDIC as successor to the failed institution, even though the interests were previously unknown since they were not reflected as assets on the books of the institution at failure. Second, and more commonly, FDIC discovers such assets when a third party contacts FDIC about an oil and gas interest revealed by a title search. Instead, FDIC obtains oil and gas interests in one of three ways.įirst, FDIC inherits foreclosed oil and gas interests reflected as assets on the books of an institution at failure. FDIC does not reserve mineral (gas, oil, water) rights in its owned real estate (ORE) conveyance deeds.
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