How were counties divided up at time of sovreignty?
Hi Ana Marie -
20% or even as much as 25% royalty would not be unusual. But either way, you might want to wait a little while before you sign any lease - perhaps several months.
Quite a flurry of leasing has begun in SE New Mexico and in a number of Texas Counties to the East and South. I would estimate that there are upwards to 500 Landmen canvasing 16 to 20 counties for leases.
This is due to a number of very prolific wells having been successfully completed in the Leonardian (Avalon) Shale, the Bone Springs Formation, the Wolfcamp Shale and the Sprayberry formation (sometimes together called the "Wolfberry") across various sections of the area.
Once the companies have picked up as many leases as they can in a given area at a given bonus and royalty, they will go back in an negotiate with the remaining landowners at higher rates - sometimes substantially higher rates.
I would also advise that you (and every other land or mineral owner out there) have an Oil and Gas Attorney look over any lease or other papers you receive before you sign.
The benefits of having an Attorney assist you in the negotiations for any lease far outweigh the expense in legal fees.
If you do not know one, the State Bar Association's website has a link that can help you locate Oil and Gas Attorneys in your area.
Hope this helps -
Charles
Hi Charles,
Thank you for this input.
I guess in the waiting I fear they'll walk away and not return to negotiate . . . just have to take that chance, right?
But what if there are other kinfolk who joint own the mineral rights and they decide to go ahead?
When I asked about how often people negotiate the person who approached me said they put their best offer on the table right off the bat so as to not waste time. He said if I didn't choose to sign and the other kin did they'ld just "drill all around me, not taking my reserve, but just all round your part".
Any further thoughts?
Ana Marie
Charles Emery Tooke III said:
Hi Ana Marie -
20% or even as much as 25% royalty would not be unusual. But either way, you might want to wait a little while before you sign any lease - perhaps several months.
Quite a flurry of leasing has begun in SE New Mexico and in a number of Texas Counties to the East and South. I would estimate that there are upwards to 500 Landmen canvasing 16 to 20 counties for leases.
This is due to a number of very prolific wells having been successfully completed in the Leonardian (Avalon) Shale, the Bone Springs Formation, the Wolfcamp Shale and the Sprayberry formation (sometimes together called the "Wolfberry") across various sections of the area.
Once the companies have picked up as many leases as they can in a given area at a given bonus and royalty, they will go back in an negotiate with the remaining landowners at higher rates - sometimes substantially higher rates.
I would also advise that you (and every other land or mineral owner out there) have an Oil and Gas Attorney look over any lease or other papers you receive before you sign.
The benefits of having an Attorney assist you in the negotiations for any lease far outweigh the expense in legal fees.
If you do not know one, the State Bar Association's website has a link that can help you locate Oil and Gas Attorneys in your area.
Hope this helps -
Charles
Hmmm... Interesting comments from a supposedly "professional" Landman. I'm sure your Attorney will find them interesting as well.
In over 30 years I have never even heard of a company putting it's best offer on the table right off. Not even close.
In the fellow's defense, however, companies seldomly send Landmen out to acquire leases knowing what the maximum the company is willing to pay actually is. Especially less experienced Landmen.
It is true that under certain circumstances companies can "gerrymander" a landowner out of a unit or surround her and leave her high and dry. I've even got an example of a proposed unit doing so here on my desk somewhere. But this early on in their leasing efforts, very I seriously doubt that they won't be back.
I have a feeling they are canvassing their entire area at one flat Bonus and low royalty to see what they can pick up on the cheap. If you aren't too far out on the edge of the area, they'll be back.
And it won't make any difference if the other undivided interest owners take the first offer or not. Even 'tho it's "undivided interest", negotiations are with each individual unless the family or group designates somebody.
How much land are we talking about here and what company is offering what terms?
Charles
Charles Emery Tooke III
Certified Professional Landman
Fort Worth, Texas
713-408-2850 Cell
Ana Marie Houser said:
Hi Charles,
Thank you for this input.
I guess in the waiting I fear they'll walk away and not return to negotiate . . . just have to take that chance, right?
But what if there are other kinfolk who joint own the mineral rights and they decide to go ahead?
When I asked about how often people negotiate the person who approached me said they put their best offer on the table right off the bat so as to not waste time. He said if I didn't choose to sign and the other kin did they'ld just "drill all around me, not taking my reserve, but just all round your part".
Any further thoughts?
Ana Marie
Charles Emery Tooke III said:
Hi Ana Marie -
20% or even as much as 25% royalty would not be unusual. But either way, you might want to wait a little while before you sign any lease - perhaps several months.
Quite a flurry of leasing has begun in SE New Mexico and in a number of Texas Counties to the East and South. I would estimate that there are upwards to 500 Landmen canvasing 16 to 20 counties for leases.
This is due to a number of very prolific wells having been successfully completed in the Leonardian (Avalon) Shale, the Bone Springs Formation, the Wolfcamp Shale and the Sprayberry formation (sometimes together called the "Wolfberry") across various sections of the area.
Once the companies have picked up as many leases as they can in a given area at a given bonus and royalty, they will go back in an negotiate with the remaining landowners at higher rates - sometimes substantially higher rates.
I would also advise that you (and every other land or mineral owner out there) have an Oil and Gas Attorney look over any lease or other papers you receive before you sign.
The benefits of having an Attorney assist you in the negotiations for any lease far outweigh the expense in legal fees.
If you do not know one, the State Bar Association's website has a link that can help you locate Oil and Gas Attorneys in your area.
Hope this helps -
Charles
Well, I've done a bit of googling today and found interesting headlines in the Brownfield newspaper about the number of land managers crawling over each other at the clerk's office. Lots of activity.
When I told the Landman I understood it was common and even expected for folk to come back with a counter proposal he seemed surprisingly open to the idea!
I told him that today I could not intelligently give numbers for a counter offer, but would have something for him tomorrow. He represents South Plains Land Services, LLC, the president being a David Nolen. They're based in Austin.
The original offer was 150.00/acre for a 5 year term and the royalty of 1/6.
When I told him I'd be checking over things with a lawyer he said that was fine and that he'd get with his company to see if they would be open to a counter offer. While I was beginning this post he phoned back to say they would go up to 175.00/acre.
I've initiated contact with a lawyer to look at the paperwork with me.
I'm just not sure what would be a fair counter offer -
If I counteroffered 225/acre then they could come back down to 200 maybe? and the royalty, I don't know. It's 200 acres and I own 1/3 of 95% of the mineral rights. Apparently the surface owner owns 5% of the mineral rights, too.
Seeing as he's come back to me before my counteroffer I don't know what to think (whether they'd even be open to a higher counteroffer or less open . . .).
Ana Marie Houser
Charles Emery Tooke III said:
Hmmm... Interesting comments from a supposedly "professional" Landman. I'm sure your Attorney will find them interesting as well.
In over 30 years I have never even heard of a company putting it's best offer on the table right off. Not even close.
In the fellow's defense, however, companies seldomly send Landmen out to acquire leases knowing what the maximum the company is willing to pay actually is. Especially less experienced Landmen.
It is true that under certain circumstances companies can "gerrymander" a landowner out of a unit or surround her and leave her high and dry. I've even got an example of a proposed unit doing so here on my desk somewhere. But this early on in their leasing efforts, very I seriously doubt that they won't be back.
I have a feeling they are canvassing their entire area at one flat Bonus and low royalty to see what they can pick up on the cheap. If you aren't too far out on the edge of the area, they'll be back.
And it won't make any difference if the other undivided interest owners take the first offer or not. Even 'tho it's "undivided interest", negotiations are with each individual unless the family or group designates somebody.
How much land are we talking about here and what company is offering what terms?
Charles
Charles Emery Tooke III
Certified Professional Landman
Fort Worth, Texas
713-408-2850 Cell
Ana Marie Houser said:Hi Charles,
Thank you for this input.
I guess in the waiting I fear they'll walk away and not return to negotiate . . . just have to take that chance, right?
But what if there are other kinfolk who joint own the mineral rights and they decide to go ahead?
When I asked about how often people negotiate the person who approached me said they put their best offer on the table right off the bat so as to not waste time. He said if I didn't choose to sign and the other kin did they'ld just "drill all around me, not taking my reserve, but just all round your part".
Any further thoughts?
Ana Marie
Charles Emery Tooke III said:
Hi Ana Marie -
20% or even as much as 25% royalty would not be unusual. But either way, you might want to wait a little while before you sign any lease - perhaps several months.
Quite a flurry of leasing has begun in SE New Mexico and in a number of Texas Counties to the East and South. I would estimate that there are upwards to 500 Landmen canvasing 16 to 20 counties for leases.
This is due to a number of very prolific wells having been successfully completed in the Leonardian (Avalon) Shale, the Bone Springs Formation, the Wolfcamp Shale and the Sprayberry formation (sometimes together called the "Wolfberry") across various sections of the area.
Once the companies have picked up as many leases as they can in a given area at a given bonus and royalty, they will go back in an negotiate with the remaining landowners at higher rates - sometimes substantially higher rates.
I would also advise that you (and every other land or mineral owner out there) have an Oil and Gas Attorney look over any lease or other papers you receive before you sign.
The benefits of having an Attorney assist you in the negotiations for any lease far outweigh the expense in legal fees.
If you do not know one, the State Bar Association's website has a link that can help you locate Oil and Gas Attorneys in your area.
Hope this helps -
Charles
Hi Ana I have also been approached as yourself and offered 150.00 per acre, with 20% royalty.. What part of the county are you in? I am between Meadow and Ropes about a mile and a half from the Terry county line.I had my attorney in Austin refer me to an Oil and Gas Attorney who is negotiating on a contingency basis only so it does not cost me a thing. Looking forward to your reply. Derek
Ana Marie Houser said:
Well, I've done a bit of googling today and found interesting headlines in the Brownfield newspaper about the number of land managers crawling over each other at the clerk's office. Lots of activity.
When I told the Landman I understood it was common and even expected for folk to come back with a counter proposal he seemed surprisingly open to the idea!
I told him that today I could not intelligently give numbers for a counter offer, but would have something for him tomorrow. He represents South Plains Land Services, LLC, the president being a David Nolen. They're based in Austin.
The original offer was 150.00/acre for a 5 year term and the royalty of 1/6.
When I told him I'd be checking over things with a lawyer he said that was fine and that he'd get with his company to see if they would be open to a counter offer. While I was beginning this post he phoned back to say they would go up to 175.00/acre.
I've initiated contact with a lawyer to look at the paperwork with me.
I'm just not sure what would be a fair counter offer -
If I counteroffered 225/acre then they could come back down to 200 maybe? and the royalty, I don't know. It's 200 acres and I own 1/3 of 95% of the mineral rights. Apparently the surface owner owns 5% of the mineral rights, too.
Seeing as he's come back to me before my counteroffer I don't know what to think (whether they'd even be open to a higher counteroffer or less open . . .).
Ana Marie Houser
Charles Emery Tooke III said:Hmmm... Interesting comments from a supposedly "professional" Landman. I'm sure your Attorney will find them interesting as well.
In over 30 years I have never even heard of a company putting it's best offer on the table right off. Not even close.
In the fellow's defense, however, companies seldomly send Landmen out to acquire leases knowing what the maximum the company is willing to pay actually is. Especially less experienced Landmen.
It is true that under certain circumstances companies can "gerrymander" a landowner out of a unit or surround her and leave her high and dry. I've even got an example of a proposed unit doing so here on my desk somewhere. But this early on in their leasing efforts, very I seriously doubt that they won't be back.
I have a feeling they are canvassing their entire area at one flat Bonus and low royalty to see what they can pick up on the cheap. If you aren't too far out on the edge of the area, they'll be back.
And it won't make any difference if the other undivided interest owners take the first offer or not. Even 'tho it's "undivided interest", negotiations are with each individual unless the family or group designates somebody.
How much land are we talking about here and what company is offering what terms?
Charles
Charles Emery Tooke III
Certified Professional Landman
Fort Worth, Texas
713-408-2850 Cell
Ana Marie Houser said:Hi Charles,
Thank you for this input.
I guess in the waiting I fear they'll walk away and not return to negotiate . . . just have to take that chance, right?
But what if there are other kinfolk who joint own the mineral rights and they decide to go ahead?
When I asked about how often people negotiate the person who approached me said they put their best offer on the table right off the bat so as to not waste time. He said if I didn't choose to sign and the other kin did they'ld just "drill all around me, not taking my reserve, but just all round your part".
Any further thoughts?
Ana Marie
Charles Emery Tooke III said:
Hi Ana Marie -
20% or even as much as 25% royalty would not be unusual. But either way, you might want to wait a little while before you sign any lease - perhaps several months.
Quite a flurry of leasing has begun in SE New Mexico and in a number of Texas Counties to the East and South. I would estimate that there are upwards to 500 Landmen canvasing 16 to 20 counties for leases.
This is due to a number of very prolific wells having been successfully completed in the Leonardian (Avalon) Shale, the Bone Springs Formation, the Wolfcamp Shale and the Sprayberry formation (sometimes together called the "Wolfberry") across various sections of the area.
Once the companies have picked up as many leases as they can in a given area at a given bonus and royalty, they will go back in an negotiate with the remaining landowners at higher rates - sometimes substantially higher rates.
I would also advise that you (and every other land or mineral owner out there) have an Oil and Gas Attorney look over any lease or other papers you receive before you sign.
The benefits of having an Attorney assist you in the negotiations for any lease far outweigh the expense in legal fees.
If you do not know one, the State Bar Association's website has a link that can help you locate Oil and Gas Attorneys in your area.
Hope this helps -
Charles
I think you are being lowballed. I am just 20 or so miles south of you in Dawson county and their first offer to me was $300/acre for 3 years with a $200/acre for an additional three years. The starting royalty was 20%. NEGOTIATE....if they are calling you that often, you have their interest.
Thank you for your reply, Mr. Kotton,
I think you're right. I definitely feel pressured but have contacted an oil and mineral attorney to help me with counter offering. The problem is that the other two third owners have already signed! I'm left as the lone third owner left. I'm not sure how that leaves me - less leverage?
AMH
Kool Kotton said:
I think you are being lowballed. I am just 20 or so miles south of you in Dawson county and their first offer to me was $300/acre for 3 years with a $200/acre for an additional three years. The starting royalty was 20%. NEGOTIATE....if they are calling you that often, you have their interest.
I am in same situation my Aunt and Uncle did not want to rock the boat and took the money and ran. I pointed out the contract had wording in it that said that we are responsible for 1/5 of the cost of getting the oil market ready, which evryone in the business including my sister who is a landman for shell i n Alaska said no way period. So my brother and myself are left as the 1/3 negotiating for a better deal with Aunt and Uncle not happy with us.
Ana Marie Houser said:
Thank you for your reply, Mr. Kotton,
I think you're right. I definitely feel pressured but have contacted an oil and mineral attorney to help me with counter offering. The problem is that the other two third owners have already signed! I'm left as the lone third owner left. I'm not sure how that leaves me - less leverage?
AMH
Kool Kotton said:I think you are being lowballed. I am just 20 or so miles south of you in Dawson county and their first offer to me was $300/acre for 3 years with a $200/acre for an additional three years. The starting royalty was 20%. NEGOTIATE....if they are calling you that often, you have their interest.
Hello Derek,
I, too, have contacted an attorney here in Austin. The contingency aspect is an excellent idea. I knew I needed to ask him questions but wasn't ready to actually hire him. I'll start with that position. Thank you.
We're about halfway between Brownfield and Levelland.
AMH
Derek Timmons said:
Hi Ana I have also been approached as yourself and offered 150.00 per acre, with 20% royalty.. What part of the county are you in? I am between Meadow and Ropes about a mile and a half from the Terry county line.I had my attorney in Austin refer me to an Oil and Gas Attorney who is negotiating on a contingency basis only so it does not cost me a thing. Looking forward to your reply. Derek
Ana Marie Houser said:Well, I've done a bit of googling today and found interesting headlines in the Brownfield newspaper about the number of land managers crawling over each other at the clerk's office. Lots of activity.
When I told the Landman I understood it was common and even expected for folk to come back with a counter proposal he seemed surprisingly open to the idea!
I told him that today I could not intelligently give numbers for a counter offer, but would have something for him tomorrow. He represents South Plains Land Services, LLC, the president being a David Nolen. They're based in Austin.
The original offer was 150.00/acre for a 5 year term and the royalty of 1/6.
When I told him I'd be checking over things with a lawyer he said that was fine and that he'd get with his company to see if they would be open to a counter offer. While I was beginning this post he phoned back to say they would go up to 175.00/acre.
I've initiated contact with a lawyer to look at the paperwork with me.
I'm just not sure what would be a fair counter offer -
If I counteroffered 225/acre then they could come back down to 200 maybe? and the royalty, I don't know. It's 200 acres and I own 1/3 of 95% of the mineral rights. Apparently the surface owner owns 5% of the mineral rights, too.
Seeing as he's come back to me before my counteroffer I don't know what to think (whether they'd even be open to a higher counteroffer or less open . . .).
Ana Marie Houser
Charles Emery Tooke III said:Hmmm... Interesting comments from a supposedly "professional" Landman. I'm sure your Attorney will find them interesting as well.
In over 30 years I have never even heard of a company putting it's best offer on the table right off. Not even close.
In the fellow's defense, however, companies seldomly send Landmen out to acquire leases knowing what the maximum the company is willing to pay actually is. Especially less experienced Landmen.
It is true that under certain circumstances companies can "gerrymander" a landowner out of a unit or surround her and leave her high and dry. I've even got an example of a proposed unit doing so here on my desk somewhere. But this early on in their leasing efforts, very I seriously doubt that they won't be back.
I have a feeling they are canvassing their entire area at one flat Bonus and low royalty to see what they can pick up on the cheap. If you aren't too far out on the edge of the area, they'll be back.
And it won't make any difference if the other undivided interest owners take the first offer or not. Even 'tho it's "undivided interest", negotiations are with each individual unless the family or group designates somebody.
How much land are we talking about here and what company is offering what terms?
Charles
Charles Emery Tooke III
Certified Professional Landman
Fort Worth, Texas
713-408-2850 Cell
Ana Marie Houser said:Hi Charles,
Thank you for this input.
I guess in the waiting I fear they'll walk away and not return to negotiate . . . just have to take that chance, right?
But what if there are other kinfolk who joint own the mineral rights and they decide to go ahead?
When I asked about how often people negotiate the person who approached me said they put their best offer on the table right off the bat so as to not waste time. He said if I didn't choose to sign and the other kin did they'ld just "drill all around me, not taking my reserve, but just all round your part".
Any further thoughts?
Ana Marie
Charles Emery Tooke III said:
Hi Ana Marie -
20% or even as much as 25% royalty would not be unusual. But either way, you might want to wait a little while before you sign any lease - perhaps several months.
Quite a flurry of leasing has begun in SE New Mexico and in a number of Texas Counties to the East and South. I would estimate that there are upwards to 500 Landmen canvasing 16 to 20 counties for leases.
This is due to a number of very prolific wells having been successfully completed in the Leonardian (Avalon) Shale, the Bone Springs Formation, the Wolfcamp Shale and the Sprayberry formation (sometimes together called the "Wolfberry") across various sections of the area.
Once the companies have picked up as many leases as they can in a given area at a given bonus and royalty, they will go back in an negotiate with the remaining landowners at higher rates - sometimes substantially higher rates.
I would also advise that you (and every other land or mineral owner out there) have an Oil and Gas Attorney look over any lease or other papers you receive before you sign.
The benefits of having an Attorney assist you in the negotiations for any lease far outweigh the expense in legal fees.
If you do not know one, the State Bar Association's website has a link that can help you locate Oil and Gas Attorneys in your area.
Hope this helps -
Charles
Anna Marie, it looks like you've picked up a few new fans!
I think you all need to slow the process down and hear what your attorney's have to say - maybe even have them participate in the negotiation process. Have you considered contacting one together? The more the merrier, and the greater incentive for an Attorney to work on a contengency basis.
Kool - You should never sign a lease for $300 an acre with an option to extend for an additional 3 years for only $200. That's moving backwards. And don't anybody sign anything for a 5 year term - a three year term is plenty long enough. If you allow them an option to extend, make it for a much shorter term than the original term and for a substantially larger amount of money.
The Bonus' you are all being offered right now are GOING TO GO UP over the coming months. More than likely so much so that if you sign now, you'll really be wishing you had waited.
In every major shale play over the past decade, lease Bonus' rose substantially after the initial sweep through of leasing. And by substantially, I mean from a few hundred dollars an acre to over a thousand an acre - in some cases several thousands an acre.
Google the "Eagle Ford Shale" play in South Texas (us quotation marks or you end up with a gazillion hit about a car dealership in Dallas), the "Barnett Shale" in North Texas or the "Haynesville Shale" in North Louisiana and see what they are getting.
And don't settle for less than 1/4 royalty. Smaller companies and individuals buying leases on a speculative basis, expecting to flip the leases to a client company will try and hold you at something less than that because when they sell the lease they want to keep the difference as an overriding royalty. Why give away part of your royalty? 1/4 royalty being retained by the Landowner has been acceptable to every company on the planet for years.
Look up the National Association of Royalty Owners (NARO): http://www.naro-us.org/
NARO's been around for years and can share a lot of information with you that might help.
Hope this helps - I'm off in search of coffee -
Charles
713-408-2850
Hi Anna Marie are you on the west or east side of385? Our property is on the west side of 62/82 just before the county line going into Ropesville. Lets keep in touch and see what we both end up with. Derek
Charles Emery Tooke III said:
Anna Marie, it looks like you've picked up a few new fans!
I think you all need to slow the process down and hear what your attorney's have to say - maybe even have them participate in the negotiation process. Have you considered contacting one together? The more the merrier, and the greater incentive for an Attorney to work on a contengency basis.
Kool - You should never sign a lease for $300 an acre with an option to extend for an additional 3 years for only $200. That's moving backwards. And don't anybody sign anything for a 5 year term - a three year term is plenty long enough. If you allow them an option to extend, make it for a much shorter term than the original term and for a substantially larger amount of money.
The Bonus' you are all being offered right now are GOING TO GO UP over the coming months. More than likely so much so that if you sign now, you'll really be wishing you had waited.
In every major shale play over the past decade, lease Bonus' rose substantially after the initial sweep through of leasing. And by substantially, I mean from a few hundred dollars an acre to over a thousand an acre - in some cases several thousands an acre.
Google the "Eagle Ford Shale" play in South Texas (us quotation marks or you end up with a gazillion hit about a car dealership in Dallas), the "Barnett Shale" in North Texas or the "Haynesville Shale" in North Louisiana and see what they are getting.
And don't settle for less than 1/4 royalty. Smaller companies and individuals buying leases on a speculative basis, expecting to flip the leases to a client company will try and hold you at something less than that because when they sell the lease they want to keep the difference as an overriding royalty. Why give away part of your royalty? 1/4 royalty being retained by the Landowner has been acceptable to every company on the planet for years.
Look up the National Association of Royalty Owners (NARO): http://www.naro-us.org/
NARO's been around for years and can share a lot of information with you that might help.
Hope this helps - I'm off in search of coffee -
Charles
713-408-2850
Thank you, again, Charles, for your responses. Your input has been very helpful. I'll take your advice and wait to see what the attorney says.
AMH
Charles Emery Tooke III said:
Anna Marie, it looks like you've picked up a few new fans!
I think you all need to slow the process down and hear what your attorney's have to say - maybe even have them participate in the negotiation process. Have you considered contacting one together? The more the merrier, and the greater incentive for an Attorney to work on a contengency basis.
Kool - You should never sign a lease for $300 an acre with an option to extend for an additional 3 years for only $200. That's moving backwards. And don't anybody sign anything for a 5 year term - a three year term is plenty long enough. If you allow them an option to extend, make it for a much shorter term than the original term and for a substantially larger amount of money.
The Bonus' you are all being offered right now are GOING TO GO UP over the coming months. More than likely so much so that if you sign now, you'll really be wishing you had waited.
In every major shale play over the past decade, lease Bonus' rose substantially after the initial sweep through of leasing. And by substantially, I mean from a few hundred dollars an acre to over a thousand an acre - in some cases several thousands an acre.
Google the "Eagle Ford Shale" play in South Texas (us quotation marks or you end up with a gazillion hit about a car dealership in Dallas), the "Barnett Shale" in North Texas or the "Haynesville Shale" in North Louisiana and see what they are getting.
And don't settle for less than 1/4 royalty. Smaller companies and individuals buying leases on a speculative basis, expecting to flip the leases to a client company will try and hold you at something less than that because when they sell the lease they want to keep the difference as an overriding royalty. Why give away part of your royalty? 1/4 royalty being retained by the Landowner has been acceptable to every company on the planet for years.
Look up the National Association of Royalty Owners (NARO): http://www.naro-us.org/
NARO's been around for years and can share a lot of information with you that might help.
Hope this helps - I'm off in search of coffee -
Charles
713-408-2850
I just received a call trying to lease 5 acres of mineral rights in Terry County that apparently my deceased husband owned. I don't recall this but I'm trying to research it. I don't live in Brownfield anymore so I am out of the loop these days. They offered me $175.00 per acre for 5 years and 1/5 of oil and gas. Before the call was over he went up to $225/acre. I am totally at a loss for where to go with this. I'm not an oil expert or a "Landman" either. Can anyone guide me?
Sandy
Sandy where is this property located? And what company contacted you. Derek
Sandy Simpson said:
I just received a call trying to lease 5 acres of mineral rights in Terry County that apparently my deceased husband owned. I don't recall this but I'm trying to research it. I don't live in Brownfield anymore so I am out of the loop these days. They offered me $175.00 per acre for 5 years and 1/5 of oil and gas. Before the call was over he went up to $225/acre. I am totally at a loss for where to go with this. I'm not an oil expert or a "Landman" either. Can anyone guide me?
Sandy
He didn't give me a company name, or I didn't catch it. His name is Rodney Arrington. He said the land is in the NE 1/4 of section 137. He is supposed to be emailing me the specifics and a map.
Derek Timmons said:
Sandy where is this property located? And what company contacted you. Derek
Sandy Simpson said:I just received a call trying to lease 5 acres of mineral rights in Terry County that apparently my deceased husband owned. I don't recall this but I'm trying to research it. I don't live in Brownfield anymore so I am out of the loop these days. They offered me $175.00 per acre for 5 years and 1/5 of oil and gas. Before the call was over he went up to $225/acre. I am totally at a loss for where to go with this. I'm not an oil expert or a "Landman" either. Can anyone guide me?
Sandy
It appears your property is situated just to the west of Brownfield. My attorney just countered their offer for our 200 acres I will let you know what the answer is.
Sandy Simpson said:
He didn't give me a company name, or I didn't catch it. His name is Rodney Arrington. He said the land is in the NE 1/4 of section 137. He is supposed to be emailing me the specifics and a map.
Derek Timmons said:Sandy where is this property located? And what company contacted you. Derek
Sandy Simpson said:I just received a call trying to lease 5 acres of mineral rights in Terry County that apparently my deceased husband owned. I don't recall this but I'm trying to research it. I don't live in Brownfield anymore so I am out of the loop these days. They offered me $175.00 per acre for 5 years and 1/5 of oil and gas. Before the call was over he went up to $225/acre. I am totally at a loss for where to go with this. I'm not an oil expert or a "Landman" either. Can anyone guide me?
Sandy
I am just a tiny fish in this pond, lol, with my 5 acres but I appreciate your help. The land was the property of Joe Skaggs and he left it to Ronnie, my late husband. In case you might have known them.
Sandy
Derek Timmons said:
It appears your property is situated just to the west of Brownfield. My attorney just countered their offer for our 200 acres I will let you know what the answer is.
Sandy Simpson said:He didn't give me a company name, or I didn't catch it. His name is Rodney Arrington. He said the land is in the NE 1/4 of section 137. He is supposed to be emailing me the specifics and a map.
Derek Timmons said:Sandy where is this property located? And what company contacted you. Derek
Sandy Simpson said:I just received a call trying to lease 5 acres of mineral rights in Terry County that apparently my deceased husband owned. I don't recall this but I'm trying to research it. I don't live in Brownfield anymore so I am out of the loop these days. They offered me $175.00 per acre for 5 years and 1/5 of oil and gas. Before the call was over he went up to $225/acre. I am totally at a loss for where to go with this. I'm not an oil expert or a "Landman" either. Can anyone guide me?
Sandy
Looks just like Terry County! Those county clerk employees will have/have had their hands full!
Kool Kotton said:
Let the bidding begin in Dawson county! http://www.pressreporter.com/news_article.php?id=4566