I own some minerals in Hopkins county that a company wants to lease. They mention in their cover letter about brine/lithium in Rains County. My cousins and I own some minerals in Rains, so I was interested in whether anyone had heard anything about it. bk
In general, brine leases are for the surface owners and not the mineral owners, but depends upon state regulations and whether you are talking about brine storage and what zone it is going into or brine mining for lithium.
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I’m getting paid on brine and underground storage on the basis of my minerals in Harris County.
I believe brine comes under the category of “other minerals”. What’s the company that has brine and lithium in their cover letter? I have a lot of unleased minerals in Rains, and since no one is leasing for oil and gas, perhaps I can get some brine or lithium royalties.
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My wife owns some mineral rights in Hopkins county and she has been contacted by a contract Land Person about a possible Lithium lease with Bright Exploration. The Land Person does not seem very proficient. My wife has not officially been contacted by Bright Exploration. Can anyone share what lease terms are being offered in Hopkins County. We are familiar with oil and gas leases by have no experience with Lithium. Thanks.
The offer I have is from MAC group as the “broker” or Landman (I think). The offer letter itself is on Bright Star Exploration Letterhead. However, the offer is on Bright Star Exploration letterhead, but signed by Jason Weakley agent on behalf of Bright Star Exploration. However, the paperwork only mentions a P.O. Box in Oklahoma City. No phone number listed on the paperwork. Maybe it’s standard, but the lease you sign says you have received your compensation, which of course, you haven’t. (Can you tell I’m new to this?)
We just finalized a lease in Titus County with Exxon/Mobil. Them and Standard Lithium and the big players that appear to have the resources to actually produce. We also got some offers in the mail from a smaller company. As of now your ownership is going by your percentage of minerals, however some areas go by surface rights and there’s a chance the Texas legislature could re-visit.
Our deal included a lease bonus with up to 2 5-year renewals at a higher bonus rate, with our royalties at 1/16th after expenses. Some of the smaller companies were sending offers of 1/32nd in hopes they could reassign to one of the big companies.
Hope this helps.
Did Exxon/Mobil contact you about the lease or did you contact them? If you contacted them, do you have the contact information? Was the lease bonus for 1 year with the 2 5 year renewals? With all of the oil and gas royalties that I have seen, the royalty is before expenses. I guess the royalty after expenses is something new with lithium?
Send me a private message and I’ll send you the information.
I have some land in Titus County, Texas (114 nma) that I am interested in leasing to a big operator. I have been approached by smaller outfits but the terms did not make sense, and it seemed to me they were just going to flip the leases to Standard Lithium or Exxon. Please help. Thanks!
Welcome to the forum. This is a developing play. You can do some hunting on www.Texasfile.com and see who is leasing in the area. It is free to look, but costs some to print.
Texas law is somewhat unclear at the moment, but in most states the lithium from saltwater aquifers belongs to the surface owner, not you mineral owner. Brine from producing oil and gas wells generally belongs to the operator, not the mineral owner. May take a while to untangle the legal framework.