Frequently Asked Questions
What is this all about?
Enerlex buys minerals in geologically prospective areas. If you have received an offer from us, we believe that you own an interest from our cursory check of the title.
What if I didn’t know that I owned it?
We hear this a lot! Many times, people either purchased or inherited a mineral interest not realizing what it was. They or their ancestors may have purchased it thinking it was an “oil stock” and when nothing happened for years may have forgotten about it and/or not kept track of what they bought.
How do I know you’re real? Is there a place that I can go to check your company out?
We are a family operated and owned company that has been buying mineral interests for 30 years all over the US. We welcome your phone call or a visit to our office in Broken Arrow, Oklahoma. If you would prefer, we can provide you with references from professionals that we have done business with for years.
I know my family never owned any surface in the location referred to in your letter – so why would you think we own a mineral interest there?
In the US, most surface and minerals are severed. This means that way back when the original land owners first sold surface, in most cases they retained the minerals and then eventually sold them separately – severing the ownership above and below a piece of land. Under one particular piece of property there may be literally hundreds or maybe even thousands of different mineral owners.
How do I research this myself? Is there a place that I can go to find out who I inherited this from?
You may choose to hire a title attorney or a petroleum landman to do research for you if you want. This is not a requirement in any way for selling your mineral interests to Enerlex, but everyone is welcome to do their own due diligence.
What do I have to do?
It’s simple! Just sign the deed in the presence of a notary public. The notary will complete the acknowledgement section. Typically, notary publics can be found free of charge at your bank or any real estate office. Once the deed has been signed and notarized, then send it back to Enerlex in the self-addressed stamped envelope enclosed in your offer letter, or you may place it in the bank along with the drafts so that your bank can forward them to our bank for collection.
I’ve sent in the Deed – now what should I do with these drafts?
At this point you may choose to submit your drafts to the bank for collection. Most banks, however, charge a fee for this service, so in order to avoid that fee we offer you the option of having checks sent to you directly instead. If you choose that option, the first payment would be mailed to you immediately upon receipt of deed and the final check would be mailed to you upon approval of title. (This is the option that most people choose.)
If I do sign and send this Deed in – what happens next?
On the same day that we receive your Deed, we will authorize your first partial payment. If you’ve chosen the check option, we will issue a check and send it out in the mail that same day. If you’ve chosen to submit your drafts to the bank, we will authorize them to pay that first payment that same day. The Deed then goes to our Title Department for final title verification. Upon approval of title, you will be sent your final payment via check or bank draft. If you’ve requested Fast Track™ Service, the process takes only 7 days or less from the day we receive your Deed to finish. ( For more information on our Fast Track™ Service, click here. ) If not, our Standard service still only takes typically 30 days or less from start to finish.
What happens if there’s a problem with my title?
No need to worry! With our over 30 years’ experience in the field, we can typically fix most title problems. However, on the rare occasions where the title does fail, we will simply mail the unrecorded Deed back to you. While the second and final payment will be cancelled at that time, the first payment is still yours to keep.