Jont and Anne Tyson knew, as their office became more and more congested with specialist professionals, that the time had come. The couple, who co-manage more than 100,000 acres through their Tyson Properties LLC, decided to consolidate their specialist needs through 5 M’s Mineral Management and its proprietary MineralWare software.
What the Midland, TX, landowners didn’t expect was how effective the software would be. Through its multifaceted approach that blends revolutionary software with the personal touch of actual human engagement, 5 M’s was able to unlock more than $60,000 in funds held in suspense for the Tysons.
“It was amazing,” Anne says. “I was just astonished and grateful. … I tell the management there at 5 M’s, they earn their money. They pay their own way. They really do because they recover money for us and they make money for us.”
5 M’s has developed MineralWare, an exclusive, industry-leading, proprietary software to identify all forgotten money for its clients, then hands that information off to expert employees who swiftly remedy the situation to bring the money home.
Previously, landowners had little choice but to try to keep up to date through antiquated file systems that were prone to redundant, often frustrating record keeping practices. Between maintaining cumbersome hardcopy files, hand keying thousands of check-stub line items, and using multiple sources to accomplish a single task the process was always complicated and highly inefficient.
In the Tysons’ case, payments of several wells were being held in suspense because the ownership had been passed down through Jont’s family, but the legal work hadn’t been finalized. After the software identified these issues, a 5 M’s specialist worked through the steps necessary to clear the title and release the funding.
“The fact that [the mineral ownership] came down from four different sources, you have a lot of things that fall through the cracks in terms of conveyances and that type of thing,” Anne said. MineralWare was “able to clear a lot of that up.”
Before MineralWare there was not a fully integrated mineral management software, mostly software made for the oil and gas companies. “It’s not as simple as it was in the past, and without our constantly having to re-inform ourselves about what’s going on, so that has really resulted in better leases for us and more income,” she said.
For the Tysons, the multiple values that 5 M’s provides makes trusting the company with all of their minerals a no-brainer. “I often think about the 5 M’s: Managed Minerals Means More Money. That has been a true statement for us, not just a slick slogan,” Anne said.