Heritage Minerals Holdings (formerly American Energy Minerals) was formed in 2014 to pursue minerals and royalties across Oklahoma, Texas, and Appalachia. It now owns more than 50,000 net mineral acres and has an interest in more than 1,500 wells. Heritage Minerals Holdings owns mineral and royalty interests across the states of Ohio, Pennsylvania, West Virginia, Texas, and Oklahoma.
Heritage Non-Op Holdings (formerly American Energy Non-Op) was formed in 2014 to pursue oil and gas leases across the SCOOP/STACK of Oklahoma. It now owns one of the largest non-operated working interest positions in Oklahoma with more than 1,650 non-operated wells.
When a mineral owner grants a lease to an oil and gas company, they grant the company the right to develop, explore for, and produce oil and gas from the mineral estate. The lease taken by the oil and gas company, as a lessee, is what creates a “working interest.”
Drilling units for horizontal wells contain large amounts of acreage and thus contain numerous mineral owners that have granted numerous leases in the unit.
An oil and gas company’s share of a given well is proportionate to the amount of working interest (i.e. leases) they own in the unit. Together, the working interest owners pay for the drilling and completion of the wells, as well as the monthly operating expenses once the wells are online. The working interest owners also share in their proportionate share of the revenue from the wells, less any royalties owed to the mineral owner pursuant to the leases.
We decipher between “operated working interest” and “non-operated working interest” by whether or not the working interest owner actually operates the well, or is just a partner in the well.
For more information about Heritage Minerals Holdings and Heritage Non-Op Holdings, get in touch with our team today.
