Oil well- deal breaker?

[Katherine Roberts]

How does an oil well affect the value of a property?

I’m in Oklahoma and there’s an oil well on the edge of the property we’re looking at and we can’t find any information on it. The current owners don’t know who owns it, only that it’s not active but the company comes to check on it to service it and read the meter occasionally. They have no idea who owns the mineral rights. Is this a deal breaker? We’ve looked at other properties but this would be the first we actually invest in. I can’t find any information about mineral rights or land leases for oil wells either.