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 portion, 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. 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

After agreeing on a price, a mutually acceptable written agreement is utilized in order to protect both the buyer and the seller. For smaller transactions a very simple one page letter agreement will usually suffice. For larger transactions a more detailed purchase and sale agreement (“PSA”) is utilized. The primary purpose of either agreement is for both parties to agree to a fair and legal written contract defining the terms of the trade. At a minimum, any agreement utilized will define the agreed and accepted price, the interest(s) being conveyed, the title due diligence process and time period, and the funding process and closing date. Should either party prefer it be utilized, the agreement will also define the earnest money and escrow process.

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 agreement outlined in Step 4 (above) will define the mutually agreed upon funding and closing process. Funding and closing can be structured a variety of ways and the complexity of the process is usually dependent upon the size and scope of the interest being acquired; in any event we prefer as simple and straightforward a process as possible. Because the title and ownership history of every interest is completely unique it is difficult to estimate with certainty the total elapsed time from requesting an offer to closing the transaction. Although we have closed some transactions involving one property within 48 hours of receiving an offer request there are some transactions involving multiple properties with complex title issues that have taken close to 30 days to close. On average, we have been able to close within 10-12 business days of signing a mutually agreeable contract.

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