By: Adam Natwick, Trust Department
First International Bank & Trust
What you do today makes a big difference tomorrow.
This is perhaps most important with mineral rights management. Amidst the current Bakken Formation oil exploration and development in the Williston Basin, many landowners now face the issue of how to handle mineral rights.
Several years ago, I was working in oil and gas operations for a China-based company that had operations in North Dakota. I worked in both countries, and now I’m very glad to be back home in Williston. As it turns out, my oil and gas experience has fueled our bank’s mineral rights and land services, just as that area has grown very fast. It’s a fascinating area and we are proud to confidentially help people here navigate the details and capitalize on their mineral ownership.
Here are some guidelines for mineral rights and land services:
What are mineral rights?
In these cases, the minerals are oil and gas that can be extracted from the land. If you own mineral rights in western North Dakota or Eastern Montana, the chances are you’ve got oil! You also most likely have interest from oil and gas exploration companies looking to develop these minerals into a producing commodity, either by leasing your minerals or through a participation agreement.
We’re helping people who are existing First International Bank and Trust customers, and we’re working with new customers. We’re guiding friends and neighbors, and we’re assisting people who live around the world but own land in this area. We now manage more than 20,000 mineral acres.
If you have mineral rights
First of all, don’t sign anything without meeting with a mineral manager like me or someone on our team. We consistently help individuals who have agreed to documentation prepared back in the 1950s or 1980s that may not have their best interests in mind. There are many factors that can come in to play and throughout my mineral management expertise, I have successfully negotiated in excess of 500 oil and gas leases.
Minerals as investments
As with other investments, we’ll help you analyze how to handle your mineral rights. Depending on your age, occupation and especially your financial goals, we’ll help create a plan to utilize your rights to meet your goals and leave a legacy for future generations. This may include wealth management and estate planning.
They’re your rights
We focus on mineral rights and land services specific to you, and our plans help:
- Prepare you and your family to successfully manage your resources
- Protect against avoidable taxes now and in the future
- Provide financial resources for your lifetime and for your kids and their kids
We’ll take care of it
There are many unique nuances of mineral and land services, and we can help you handle them all. We will:
- Negotiate your lease(s)
- Collect revenue
- Convert and sort royalty checks into meaningful data
- Prepare income/production history to your specs (by well, product, producer, time period)
- Simplify tax reporting
- Consult on various ownership strategies i.e. Mineral Trust, LLLP, LLC
Only online tool in 1,500 miles
We have some customers who simply want one statement each year; others use our exclusive online management tools. In fact, we’re the only financial institution within 1,500-mile radius that has a secure, dedicated website for our mineral and land services. This convenient site gives customers 24/7, user-friendly access to Income and disbursement reports, mineral production and price graphs and custom maps of personal mineral holdings and wells
The right moves
If you have mineral rights or are looking for someone to review your current land services lease, royalty and ownership details, we’re eager to share our expertise with you. Call or stop in for a confidential conversation. Together, we’ll ensure you’re managing your mineral rights exactly right for you.
A native of Williston, Adam earned his bachelor’s degree from Dickinson State University, then spent years gaining oilfield experience in the Williston Basin, plus in China and other international venues. He has more than three years experience in trust and more than seven years in financial management experience. Now working through the intense, two-year program to become a Certified Mineral Manager, Adam focuses on mineral and land services, as well as mineral trust, mineral agency and partnership areas.