Assessed value vs market value

Thank you, L_J_L, That map is very interesting and is helping me get a better picture of the property. It looks like there are four horizontal oil wells that originate in Section 416 and terminate in Section 401. The Yoakum county website shows tax assessments for my father’s property, with legal descriptions like .000732 RI CUSTER & WRIGHT OPERAT B1100 BEN #02H 1606 D 416 (also #03H and #04H).

I suppose the “416” portion of the description relates to the surface origins of the wells?

An investment firm approached me with an interest in buying the mineral interest in “Section 401, Block D, John H. Gibson survey.”

Based on the legal descriptions on the county website, I’m guessing that my father owned .000732 of the royalty interests of at least three wells: Ben 02, 03, and 04. Would a mineral interest owner typically have the same ownership of all other leases in the same section? I’m asking because the map you linked me to, appears to show other wells besides the four “Ben” wells.

Thanks again … the inputs from Dusty and yourself have been super helpful in me starting to get my head around what all of this means.