I'm new here and to all of this. My Mom passed a while back and we are just learning about her mineral rights in West Texas where my Grandfather had very big ranches. He also had a lot of children who had a lot of kids as well.
I only have a foot print of mineral rights but we just got an offer from Springbok Energy. I know the price is good after reading several people's posts. I want to know about a company out of Dallas...
Springbok Energy. Has anyone dealt with them before or heard of anything about them?
Is the offer to lease or to purchase your minerals? If you are intending to sell your minerals, and Springbok's offer meets your expectations, what more do you need to know? https://springbokenergy.com/
I get mass mailings from them all the time. There are lots of those outfits from Texas, sometimes it is just two guys who went to college together and one of them has a Daddy who knows a bankster who can get them the capital to buy minerals or leases, etc. I shred them all. They specialize in finding people who just inherited mineral rights and don't know the game yet, then try to sign them quickly to horrible deals that the sellers will regret for the rest of their lives. If you are serious about leasing or selling, never take the first offer -- get offers from several different buyers and make sure you know exactly what it is you are selling or leasing.
This is just for a lease. I will not sell this piece that I have left. I had a much bigger piece that I sold because we were financially strapped and then some. According to my sister one of our family members is doing the negotiations for All of this and he got a pretty good price for it. ($3900) an acre. For a lease. If for some reason my sister misunderstood and they are trying to buy my rights I will not sell, ever! One of my son's is going to college to be a Geologist and this is for him to have and it's not for sale. I feel bad that I had to sell my other mineral rights in 2011, so this isn't for sale. Thank You so much for your reply. I'm glad that I know more about who these people are. To me it does matter who they are.
From what I know of Springbok, they are not an operator. That means if they are taking a lease from you they are going to flip it to someone who will drill. Why not cut out the middle man?
My pleasure! If you are not familiar with who is drilling in that area you can ask neighbors, ask around on here or check the Texas railroad commission website. It can be tricky to navigate but it quickly becomes the mineral owners best friend for keeping oil companies honest.
I would consult an attorney very familiar with oil and gas law before signing anything. Does the company also lease minerals or only purchase them? https://springbokenergy.com/about-us/
I wholeheartedly agree that you should consult an attorney before signing anything. There are so many factors to consider in a lease, and the fact that it can ultimately bind you for decades makes it almost always worth the money in the end.
"According to my sister one of our family members is doing the negotiations for All of this and he got a pretty good price for it. ($3900) an acre." Becky, this comment of yours concerns me. It appears that you are not taking an active part with this effort. Especially if you're not sure whether the minerals are being sold or leased. And, $3900/acre may sound like a lot of money, but compared to what? There are other issues in these leases to consider and that one needs to know about. Have you read the small print? Do you understand what it means? Also, never accept the first offer someone offers you. These leases are all about "negotiating."
Also, I think that you're taking a pretty big chance with letting a family member handle the negotiations, unless they are a qualified, experienced O&G attorney whose specialty is negotiating O&G leases. Think about taking a more active part in this effort so to protect your personal interest, and the land that you will pass on to your son. I'm sure that you wouldn't want the land to look like a "war zone" depleted of its precious groundwater. And, your active interest, TODAY, may prevent/eliminate any misunderstandings between family members that may crop up in the future ... and when it's too late.
Stay safe and seek the good advice of an O&G attorney who specializes in negotiating these leases in YOUR best behalf.