In the last week my wife and I were made an offer to buy some mineral rights. That apparently my wife inherited from her mother by way of her grandfather. Long story short its all new to us. I believe that it is some 30-36 mineral acres around the Saint Jo area in montuage county. The offer was nice but it was to buy the rights from her. I just don’t want to see her make a mistake here, any input from anyone out there that is in that area and knows what is going on around there would be appreciated.
Kirk, A couple of items… first, see the bottom of the homepage, there’s a group for Montague County TX mineral owners. Join that group. It’s just getting started, but likely will grow, and you’ll be joining others who have interests in the area.
As to your minerals, pause, don’t do anything quickly. You’re doing the right thing by gathering data and getting educated. The Barnett shale extends into this area. EOG was the lead company in exploring for oil and gas here, and it’s relatively early in the game. They’ve got lots of drilling activity going, and more planned. So, I’d suggest you just hang tight and let things develop. I too own minerals in Montague County and am watching as things develop.
I love stories like this, people get tracked down because they inhereited minerals (usually intestate) and they get offered some money. I’m interested to hear the offer, one persons idea of fair can be totally different than the next. If I were inyour shoes I’d look to get the minerals leased and try to get the lease drilled. Once production comes online (hopefully a barnburner) you can make some real money!
I recently inherited some oil & mineral rights, too. All I knew was my forebears had paid (minimal) taxes on the rights for decades. I asked some educated people about selling the rights. I was told in no uncertain terms “NEVER SELL YOUR OIL & MINERAL RIGHTS!” Alas, a leasing offer came in the mail last week, and the gain is quite promising - IF a well ever strikes. It’s a craps shoot, but… no lease, no drilling, no gain. Doing my research now. So glad I found this site.
Update, so far as we can tell based on some geological input, this a very sound location to hold on to what appears to be 36.4 Mineral Acres. However while not confirmed We have a friend looking into this that is in the drilling business and he says he has reason to believe the land may have been drilled without our knowledge. Again this is first looks the situation may not be as such, but if it is, what exactly would that mean? and what would our next step be?