What is a fair price for leasing mineral rights in the Albright Survey located in Anderson County? I have an offer of 5 years at $100.00 per acre 3/16ths. I have never leased mineral rights before and will appreciate any information.
j,
It will help if you will post the Abstract, Section and Block #'s of this minerals interest. There are numerous Anderson County Group members that will possibly help you but will need the legal location. Also you need to let the Group know who is offering the lease.
Thanks,
Clint Liles
Abstract - 80 Block - 1 I cannot determine the section number. The offer is from a landman representing Tri-C Resources. Albright may be spelled Allbright. This is a part of 195.3 acres and recorded in Vol 619, Page 89 of the Anderson County Deed records. April 22, 1950. I have only 27.9 acres. Very confusing. Thank you for replying.
j,
After checking the RR Commission Public GIS Map I find your minerals(Abstract 80) are in a producing area of Anderson County. A Horizontral well(API 001-32756)(Abstract 996) was spudded(began drilling)in December of 2014 to the southeast of your minerals. As of this day no completion report on RR Commission website. Also in December of 2014 well API 001-32758(Abstract 661) was spudded to the southwest of your minerals. No completion report. On the top right of the GIS Map I am posting is well API 001-31078 in A-684. This well was drilled in 1981 into the Rodessa Formation and as far as I can tell it is still producing today.
Link to approved drilling permit for well 31078:
http://webapps2.rrc.state.tx.us/EWA/drillingPermitDetailAction.do?m...
Also to the east and northeast of your minerals are several producing wells as well as numerous plugged wells in the surrounding area. In my opinion I would say that $400 per acre would be a reasonable per acre bonus to accept. $100 per acre is unacceptable///Negotiate to get what you want........Just my opinion. Some other Anderson County Members will possibly chime in later with their opinions. John Cundieff and Alan Herrington pretty much keep up with what's going on in Anderson County. Good luck with your minerals and don't accept the first offer.
Clint Liles