Broadway Bank Wealth Management goes beyond the surface to protect this unique asset for future generations.
By Reid Reagan, VP Oil & Gas/Mineral Department Manager
Oil and gas mineral ownership is a unique privilege that is often passed from one generation to the next. It can create a significant amount of wealth for you, your family, and its future generations. While mineral ownership is an exceptional opportunity for many, it also comes with challenges that often make ownership complex and difficult to manage compared to more traditional interests. At Broadway Bank Wealth Management, our dedicated team of professionals have unmatched expertise to assist mineral and royalty owners by providing a comprehensive, concierge-level approach to mineral management to ensure owners realize the full potential of this unique asset.
According to the National Association of Royalty Owners, there are an estimated 12 million oil and gas mineral owners in the United States. Together, these owners collect some $50 billion in annual royalty payments. For many individuals and families, mineral assets form the foundation of their wealth generation. Yet too often these assets are at best under-managed, resulting in a significant loss of financial opportunity. In a time of exponential change in both the global economy and the oil and gas industry, it is imperative that mineral owners have a complete understanding of their mineral asset portfolio and its full value potential.
There are many benefits to enlisting the services of a certified professional to assist with the management of your mineral and royalty assets. First, confirm and verify that you are getting paid correctly and timely for your royalty payments. It’s critical to monitor your monthly payments for accuracy and to ensure that you are getting paid in compliance with the terms of your oil and gas lease. Second, to reclaim time. The effective management of minerals can be very time-consuming and can become overwhelming to many individuals without the necessary tools and skillset. Third, to ensure that your future generations are in the best position to benefit from your mineral assets. This is accomplished by maintaining an up-to-date inventory and status for all your oil and gas assets and when required, managing the conveyance of mineral ownership to properly transfer title and associated revenue.
For 80 years, Broadway Bank has been an integral part of South-Central Texas, evolving into one of the largest independently owned banks in Texas. Our team empowers mineral owners to protect and optimize the value of their mineral holdings. Our team offers clients industry leading full-scale management services from maintaining current inventory and status for all your assets to marketing unleased mineral properties. We combine decades of industry experience along with cutting edge technology to help mineral and royalty owners navigate the challenging energy environment.
ABOUT REID REAGAN, CPL | VP, OIL & GAS/MINERAL DEPARTMENT MANAGER: Reid joined Broadway Bank in February 2020 with over 13 years of experience in the oil and gas exploration and production industry as a mineral and land professional. He has extensive experience in negotiating acquisition and divestiture transactions, oil and gas leasing, business development, prospect evaluation and due diligence. He has spent years developing his oil and gas transactional proficiency while working multiple oilfield basins including the Permian Basin, Anadarko Basin, Powder River Basin, Eagleford Shale and the Barnett Shale. If you are interested in learning more about our oil, gas, and mineral management services contact Reid Reagan at jreagan@broadway.bank or visit broadway.bank/wealth.
