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Does any one know what is going on in this area. Family has been offered one million dollars for our minerals rights in Borden country. Below is the sections...
All of Section Three (3), Abstract 282, containing 644 acres
" " 22, Abstract 1254, 640 acres
" " 15, Abstract 288, 640 acres
" " 10, Abstract 1144, 640 acres
" " 2, Abstract 1176, 641.6 acres
" " 23, Abstract 292, 640 acres
The West one-half, the Northeast one-quarter, and the North one-half of the Southeast one-quarter of section 11, abstract 286, 558.6 acres.
The East one-half, the Southwest one-quarter, the north one-half of the northwest one-quarter and the N 1/2 of the S 1/2 of the NW 1/4 of section 21, abstract 291, 600 acres.
The W 1/2 and the S 1/2 of SE 1/4 of section 14, abstract 1193, 400 acres.
The E 1/2 and the SW 1/4 of section 16, abstract 1143, 480.3 acres.
Father passed 5 years ago. So we are try to figure all this out. Thanks for any help.
Connie - It looks like your family has quite a few net mineral acres so the $1 million may not be much on a per-acre basis. The tracts you listed above are in the southern portion of Borden County which borders Howard County, one of the hottest counties for Permian activity. It even looks as though Surge Operating has a horizontal well running through a few of your family tracts. There could be some potential for your minerals in the years to come.
Connie; according to my figures if you own 100% of the minerals in all that acreage above it would only come to around $170 per acre which is way too low. Surge has completed four wells in one 640 ac tract on the Borden County- Howard county line. They are drilling currently another well and seeking permits on two other section s in South Borden county. They are just now starting to drill in Borden County and they have a lot of area leased. If they are successful as they have been in Howard there could be many wells in a Tract. I own a small portion or part of around 15,OOO ac which Surge has the leases on and just waiting as they are currently seeking a permit just 1 mile from our western border of our acreage. If I were your family and you, I would consider if you need that money now or wait for things to start producing. Realize they are just offering a small portion of what your property could gross over the next ten years. Do not just give away something for free.
Thanks for the replies, and information... this is Connie's husband, Drew.... We don't own full mineral rights... we have a non-participating (?) percentage... not sure what the percentage is. I'll have to check on that. My grandfather and grandmother sold this ranch back in 1947 to Mr. Good, but kept these mineral rights.
We were surprised at the amount of the offer... sounded like a lot to us, since it's been basically non-productive for a while, but were a little suspicious, too.
We are currently trying to check into the probability of future drilling, as we've heard about the very likely huge amount of shale oil in this part of west Texas....
We have a lot to learn, and are in no hurry to sell.... especially if it is to some off-shore company. We think that our domestic oil should stay domestic... perhaps a naive viewpoint, but there it is.