Mr. Liles, I joined this forum after doing a google search and one of your responses came up, not related to current topic. I have a quick question related to Nathan Davis survey. You have already answered part of it. What is the best way to do this? I don’t want to distract from your thread here. Thank you!
Randy,
First of all, Welcome to Mineral Rights Forum. I'll try to answer your question right here and will not affect this thread at all. What is your question?
Clint Liles
Thank you! My mother had mineral rights on 17 acres in Nathan Davis survey for years. It was leased out several times over the years by different companies, but never drilled. She passed away last year and I was approached with a lease, which I signed without doing my due diligence, thinking that they weren’t going to drill as they never had. Now they say they are going to drill in a couple of months. You said not to sign a lease requiring payment of processing, transportation and marketing, which I did. There’s no way to answer this as there are too many variables, but roughly, how much of my 3/16ths am I going to give away now that the lease is signed? Any other options? Thanks again.
Randy,
I'm sorry to hear of your mother's passing. Dad's are special but Mom's are the glue that holds families together and we never forget them.
I'm also sorry to hear that you didn't find this wonderful Forum before you signed the lease. What County and what is the legal(Section, Block and/or Abstract #)description of the mineral acreage?
Can you tell what Company you leased with?
20-25% is the normal royalty that is being paid in the Permian Basin area and most of the State of Texas.....
Deductions can take from 20 to 60% of your royalty check depending on the Company and how honest/dishonest they are...
If you've already signed the lease it's history.....A lease is not like a marriage where you can stop it and start all over. A lease is final unless you can prove their was fraud, Etc. Most of these Company leases are in favor of the Company and their bottom line.
Clint Liles
Thanks for the condolences. You are right, no one can replace Mom. To answer your questions, I am dealing with Imperium Land Company. Not much more info. I don’t have the description with me right now but it is in Shelby county just north of St. Augustine county and east of Hwy 147 where 1095 runs into it. Maybe having someone sign a lease worded this way helped them to decide to drill after all these years, along with a pro oil/gas president being elected. Any advice from you or anyone who reads this is much appreciated! Thanks again!
Clint, how can I get a daily report from you and other people that post in the Section 8 area? I have had trouble out of my computer and recently bought a new one but haven't programed it yet. I would like to hear from others in the Reeves area and keep up with whats going on. Any information will be appreciated. And thank you for all you do....Louise
What State and Town did Imperial Land Company say they were from? Have you googled Imperial Land Company? My belief is that Imperial Land Company is not an oil and gas company that drills wells. They will now sell/flip your lease to an actual oil and gas company/developer and make themselves some big bucks. Just now after checking approved drilling permits for Shelby County from Jan. 1, 2013 to present day I find no approved drilling permits for Imperial Land Company. The major operators in Shelby County in the past few years are XTO(a division of Exxon), Devon Energy, Exco Operating and Classic Operating. Majority of the wells drilled in Shelby County are drilled into the Haynesville Shale and CottonValley(CV) Formations......13,500'-22,000'. The majority of these wells are natural gas wells. Several new natural gas export terminals have just been built on the Texas and Louisiana Gulf Coast to export natural gas to Europe and Asia.
MAKE AMERICA GREAT AGAIN
Clint Liles
Hi Louise,
I have your email address and will send you and email.............
Clint Liles
Imperium is the current company Iam in contact with, although the lease was with Petroleum Partners LLC in Lafayette. I’m still trying to figure out who plays what role and have an email in to the landman who is with neither of the above. The description on the lease is as follows: 17.41 acres of land, more or less, situated in the Nathan Davis survey, A-147, Shelby County, Texas being the same property described in a warranty deed dated February 1, 1984 from Max Bryan Bunt and wife, Anna Rae Bunt, to Elwood Airhart and wife Annie Airhart, recorded in Volume 630, Page 856 of the Deed Records of Shelby County, Texas.
Your input and comments are greatly appreciated. Especially in regard to finding out if they are filing a drilling permit in order to begin in 2 months. Thank you sir!
