The state of Texas is holding $3 billion in unclaimed property, including $461.1 million in unclaimed oil and gas royalties — money that’s reported to the Texas Comptroller of Public Accounts and turned over to the state by companies when they can’t find mineral owners.
In addition to the cash from oil and gas production, one in four Texans has long-lost money sitting in abandoned bank accounts, uncashed checks, utility refunds and other forgotten places.
The money sitting around in the state’s sock drawer from oil and gas royalties alone is enough to buy a six-pack of Shiner Bock, a half-gallon of Bluebell Ice Cream and breakfast tacos for everyone in Texas ($17.73 for all 26 million of us).
And with drilling and oil production booming once again across much of Texas, and with shale drilling technology making it possible to drill in previously unprofitable regions, the amount of unclaimed money is growing.
Is some of it yours?
You can visit the comptroller’s website (claimittexas.org) and search for unclaimed property of all sorts (not just royalties paid on oil and gas properties).
Or you can call the state at 800-654-3463 and someone will help you look up your name or a relative’s name by phone.
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