The Process

Aspen Grove Royalty Co. actively acquires a variety of both producing and non-producing oil and gas interests. The closing and funding process is simple and quick once you decide to sell, we agree on a price, and we confirm that you own clear, marketable title to you interest. We pride ourselves on our ability to quickly and efficiently close transactions after confirmation of ownership. And, there are many ways that we can structure the closing and funding process to ensure your comfort and satisfaction. Regardless, all costs associated with the transaction are paid by us, at no cost to you.

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The Steps:

STEP 1: Request a Cost Free No Obligation Offer

If you are potentially interested in selling all, or a percentage, of your interest and would like to receive an offer please click here to learn more. If you have already received an offer, or letter of interest, from Aspen Grove Royalty and would like to discuss our level of interest in your property please contact us.

STEP 2: Evaluation Period

Following a cursory review of your property information we will make contact to inform you that we are either beginning the evaluation process or that your property does not meet our acquisition objectives at this time. In limited circumstances you may be asked to provide us with additional information about your property before we can evaluate it fully. Once we are provided with the pertinent information your work ends and ours begins. Because every oil and/or gas interest is unique the specific attributes associated with your property interest(s) will dictate the amount of time it takes us to fully evaluate it. Historically you can expect to receive an offer within 1 to 3 business days (for one property). A large portfolio of properties could take several weeks to fully evaluate. To learn more about how we value properties please click here.

STEP 3: Receive a Cost Free No Obligation Offer

Receiving an offer from Aspen Grove Royalty creates no obligation on your part. You can choose to reject our offer or accept our offer. It is that simple.

STEP 4: Mutually Acceptable Agreement

Assuming we agreed on a price now we need to agree on the terms of the sale through the use of a basic letter agreement. The primary purpose of this agreement is to basically set out in writing that you have something you agree to sell to Aspen Grove Royalty Co. for a certain price and Aspen Grove Royalty Co. agrees to purchase it from you at that price. Among other things the letter agreement will define the funding process, the closing date, and our responsibilities to one another. The standard letter agreement we prefer, and often use, is a very simple, straightforward, easily understood one page document. Having said that we also have closed large transactions involving many properties, interest types, (and attorneys) that required larger more detail oriented letter agreements. In some circumstances we can forego the letter agreement entirely, agreeing verbally to the process and ultimately complete the transaction in person.

STEP 5: Title Review Period

Before Aspen Grove Royalty puts its funds at risk we must ensure that you own clear, marketable title to your interest with no liens or encumbrances of any kind. At this stage we will research the title to your interest. This is performed in the county in which your interest is located. For one property, in one county, the title review period can take anywhere from a few hours to a full week. Assuming everything checks out we will begin the process of drafting the necessary documents required to convey title to your interest. Aspen Grove Royalty Co., LLC bears the, often high, cost of this step.

STEP 6: Closing and Funding

The letter agreement will define the closing and funding process. Assuming our standard letter agreement is utilized, the closing and funding process is very simple and straightforward. For example, the actual funding process can be structured a variety of ways, including but not limited to the following:

  • If the interest purchased is large enough we can meet in person to exchange a check or cashier's check for the properly executed and notarized conveyance instrument (usually a mineral/royalty deed).
  • Utilize the collections department of both our banks to handle collections.
  • Upon our receipt of the original signed and acknowledged deed or conveyance we immediately wire the funds to your account.
  • Upon our receipt of the original signed and acknowledged deed or conveyance we immediately overnight you a company check or cashier's check.
  • Have a mutually agreeable attorney act as an intermediary by holding the signed conveyance in trust. Once said attorney receives payment by us they will mail the conveyance to us at which time we will record in the proper county clerk's office.
  • In very limited circumstances, we may authorize you to fax or e-mail your signed and notarized deed/conveyance to us at which time we wire the funds into your account and you immediately overnight the original signed and acknowledged deed or conveyance to us.

Because every interest is completely unique it is difficult to estimate with a high degree of certainty the transaction life cycle (time lapsed from requesting an offer to closing the transaction) for your particular interest prior to our review of that interest. We have closed some transactions involving one property interest within 48 hours of the owner requesting an offer while some transactions containing many properties have taken over 30 days to close from first contact. That being said the average cycle time has been under 12 business days.

Quick Contact Info.

Physical Address:
608 North Main Street
Midland, Texas 79701

Mailing Address:
P. O. Box 10588
Midland, Texas 79702-7588

Telephone: (432)-683-6100
Toll-Free: 1-855-762-5855
Facsimile: (432)-685-3621

Email: info@aspen-grove.com