FAQ

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Due to my 9am-5pm Monday-Friday work schedule, can my husband and I sign a Royalty Deed on nights and weekends?

A)   Our representatives will meet at any convenient time and location of our clients choosing. There are numerous times, our team has assisted our clients’ needs of executing documents after work hours.

 

I recently purchased my property, and received a letter in the mail from Five Star Resources. How Do I know I own my minerals?

A)   If you received a letter from us there is a good chance you own your minerals but because we cannot complete a full title report for every property we send a letter to it is not a guarantee.  To find out for sure please contact us and our title department will perform the necessary research on your property to verify the mineral ownership and/or acreage.  At that time we can give you a purchase offer as well.

 

Can I sell part of my royalty interest?

A)   In many cases we can

 

I signed an Oil and Gas Lease, but the Oil and Gas Company has not drilled a well. Would I be able to sell my rights?

A)   For mineral owners in non producing areas, our management team uses calculations that are based on production data from nearby wells and geological characteristics in the area to formulate an offer to purchase the “mineral” rights as there would not be any “royalties” to purchase yet.

 

When does my Lease expire, and when would my Royalty Deed expire?

A)    Most Oil and Gas Leases  have a primary term period, usually 3-5 years, which gives the O&G company time to drill a well during that period. If drilling operations were conducted during that time and a producing well was completed, this will hold the Lease “by production” for the duration of the life of the producing well(s). Your transaction with us, along with your Lease, will expire when the production ceases.

 

What happens after I execute a Royalty Deed?

A)   A company check is provided to our clients at the time of signing, we do not use “bank drafts” which can take up to 60 days for payment to be made.  Five Star Resources will file the executed Royalty Deed at the County Courthouse where the property is located, mail you a copy of the Filed Royalty Deed and contact the operator of the Unit to update the royalty ownership.

 

Does Five Star Resources match and/or beat offers from another acquisition company?

A)   We pride ourselves in having competitive offers but if it is brought to our attention that our offers are not the highest in a unit we will often match or beat any legitimate offer in that area.