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I was contacted today by a company interested in my mineral rights. Rather than the company propose an offer to me, they asked me to make them an offer. I have approximately 180 acres in Angelina county Texas. I'm not sure what the going rate is here in east Texas and I'm not sure where to even begin. I have had several leases in the past but have never had the chance to make them an offer. Any ideas or advice would be greatly appreciated!

Thanks,
James

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James,

Do you know of any production or activity in the area of your minerals?   Production or activity in the area makes your bonus/royalty worth more.    Just my opinion.   If you will give me the Abstract # I will pull up the GIS Map so we can see what's in the area.

Clint Liles

Clint,

 

Thanks for the reply!  I'm not currently aware of any production in my immediate area at the moment.  There has been a lot of activity in Newton, San Augustine, and a few other counties which is around 50 miles east of me.  I'm not sure what the abstract # is that you are referring to.  Here is the information that was included in the e-mail, maybe that will help.  158.56 acres E. Gilliand survey, A-281, Angelina Co., TX.   I just came out of a lease back in November of 2013. I recieved $500 per mineral acre, 1/5 royalty, and 3 yr lease w/2yr option. 

 

Thank you,

James

James,

I see where a Horizontal well(30387) was drilled (wildcat well) in A-281 in Sept. 2009 by Harding Company to a depth of 10,000'.   No completion report or other info found on this well.   Also to the north of your A-281 are several horizontal wells drilled by Range Production targeting the James Lime(gas) Formation back in 2002-2003.  I would say the numbers on the lease you came out of were fair for the area.

Drilling permit for well API 005-30387:

http://webapps2.rrc.state.tx.us/EWA/drillingPermitDetailAction.do?m...

GIS Map of Angelina County A-281:

Clint Liles

Clint,

Thank You so much for your time and information!  I think I might hit them a bit higher and see where it goes from there.   Thoughts?

~James

James,

What is the name of the company offering the lease?

This link is to the Angelina County Group.   You might want to join:

http://www.mineralrightsforum.com/group/angelina-county-tx-oil-gas

Clint Liles

Clint,

Indexas is the name I believe.  They are out of Houston.

 

~James

Indexas LLC

http://indxs.com/about-us.html

James Childress said:

Clint,

Indexas is the name I believe.  They are out of Houston.

 

~James

Dear Mr. Childress,

They are asking you to trade against yourself.  This falls into the category of the beginning of a negotiation.  Read here for some suggestions:

http://www.mineralrightsforum.com/profiles/blogs/negotiation-101

Best

Buddy Cotten

Mineral Manager

I would just tell them no thank you at this time. They will either come back with a concrete proposal or not. It sounds to me like they are fishing for someone to lease far below whatever the market value is, don't let it be you.

I had a company lease my 100 acres in Angelina county about 10 years ago. The lease amount then was $1500 per acre. There was speculation that a gas well may be in the works behind my property but after the 3 +2 lease was over, nothing happened. I did have a company offer $5000 an acre to buy the Mineral Rights about the same time, but I held out. Hindsight says I should have sold!

In the future I think you will be glad you didn't sell.

Clint Liles

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