I own mineral rights in Cooke County and Grayson county. There are a total of 154 NMA, with 89 having been leased in the past. I know nothing of production, don’t think any royalties have ever been paid.
The property is highly fragmented, I think I own 1/48 and at age 62, am one of the younger ones. Most of us live in Indiana. I think the value is not worth the trouble involved in responding to lease letters that come along every 3-5 years. Also, explaining this to the next generation will be difficult at best.
I would like to coordinate a sale among the still-owning relatives, but do not know how to go about assessing value or even who to engage to do so. Can someone recommend a course of action at a high level ?
p.s. purchase offers for the NMA in A-446 triggered all this
I actually own rights on the same A0446 abstract and adjacent surface property. The A0446 surface is actually army corps of engineer owned and is part of the land bordering lake Texoma. They are starting to drill horizontal wells in the area so interest is gaining. I’ve received purchase offers also. Send me a PM if you want to discuss more details.
Who is drilling? I know that Trailhead Exploration and West Bay Exploration have leased in the area but didn’t know of a filed drilling permit? What is the objective zone to be horizontally drilled?
I would encourage you not to sell your mineral rights. It appears that drilling is taking place in that area right now. This is most likely the reason for your mineral offers. Unless you absolutely need the money, hang on to those minerals. Always check out and negotiate the lease letters. Check with an oil & gas lawyer to see how to negotiate and get the best deal.
Just pinging you here to let you know I replied to your email. Might check your spam filter. Don’t need a response just wanted try make sure you saw the answers to your questions
Thanks to all for the help here. I learned alot, including that I signed a fairly bad (to me) lease in 2024 that is for 5 years, involves multiple tracts, has a 3 year extension option, and a 1/8 royalty.
Could be worse, but breaks several of the good suggestions found on this fourm.
Yes! This is the one. Thank you for the RCC drilling permit info. I am keeping watch carefully on this one. We went out to the site and rig is up. I am trying to figure out if there is a CLEGG 1H and the 2H is a second horizontal well.
Leases can always be negotiated. Find a good landman or oil/gas attorney to help you with the process. My dad always told me to hang on to those mineral rights. You just never know when they might be a blessing!
Clegg 2H was spud 7/22/26. A rough estimate for royalty timing is one year from spud to bank. A few months to drill and complete and many more months to run title for all the mineral owners.
Looks like M_Barnes posted a better answer than I could. I took the landman out to the site last week and they’re actively working on it. They’ve got a whole little town set up there with 10 or so portables. Excited to see how this pans out…