Looking for anyone familiar with the going rate per mineral acre in this area
Hi, Lora -
I can ask around, but are you looking for a Leasing Bonus per Net Mineral Acre rate or a Net Mineral Acre selling price?
Charles Emery Tooke III
Certified Professional Landman
Fort Worth, Texas
Lora, I looked up the area (see the attached) and the Section is literally surrounded by producing wells. Are you sure you want to sell?
The Wells I left highlighted on the map and in the table attached are only those producing @50 Barrels of Oil Per Day or more. And there's 57 of those, so you are in a very good area.
The Section appears to be broken up into tracts of land ranging from 20 acres to 80 acres, however, so there are obviously a large number of mineral owners in it.
Have you received an offer?
I didn't see your name in the list of Mineral Owners that are presently under lease to various companies in the Section. Is there another name it would be under?
Charles785-57WELLSPROD50ORMOREBOPDMAP.pdf (93.6 KB) 786-57WELLSPROD50ORMOREBOPDTABLE.pdf (688 KB)
Thank you for your reply
Still gathering info. Thanks Charles, appreciate your response.
You are quite welcome!
Unless you have some major expense that you need to address (medical issues, hoping to retire or getting somebody through college or something) or if your net mineral acreage is so small that it would just be nice to have the lump of cash instead, then I advise you to not sell your interests.
There are at least 121 current leases that have been taken (acquired) by various Oil and Gas Companies and Land Services Companies representing various Oil and Gas Companies covering the different tracts of land located in Section 71.
Most were taken (acquired) last year, so a fair number of Somebodies' are very definitely interested in the lands your interests are a part of.
As I mentioned before, however, Section 71 appears to have been broken up into a bunch of 20 acre to maybe 80 acre tracts of land. A "Section" of land is typically 640 acres, or a mile by a mile, so when one is broken up into 20 to 80 acre parcels things can get complicated.
Lands in that part of Texas aren't typically busted up like that. It's like Section 71 was maybe once a small community or something. May still be, for all I know now. I haven't checked the aerial photographs or street maps of the immediate area.
The Title Research to determine who owns what in lands broken up into such relatively small parcels is amazingly time consuming and incredibly expensive. Which might be why your particular Section has not yet been drilled (Horizontally).
And, since I didn't see your name on the list of current Oil and Gas Leases that I was able to pull up on DrillingInfo.com, I can only assume that either your interests are under a name other than your own or that none of the Companies or Land Services Companies have been able to find you yet.
If your interests are presently NOT LEASED ("Open" in the vernacular of the industry), you will probably be able to demand a higher rate than the $10K per Net Mineral Acre (NMA) that Donald mentioned.
You need to be careful about such things. If you sell your interests NOT LEASED (Open), the Buyer may just simply Lease your interests and recover a good percentage of his purchase price within a matter of days. Perhaps even his full purchase price, thus acquiring your interests "using your own money".
I continue to advise you to NOT SELL your interests unless you have some immediate issue(s) that need to be addressed.
If you have a need to sell your interests, many people here on The Forum can advise Legitimate Buyers for your interests. If you would like me to suggest a few, I will be happy to do so. I receive no compensation for such referrals.
Well, at least nobody's ever offered me one yet...
Hope this helps -
Charles, The ownership of our mineral acres is complicated and nothing with regard to selling or leasing will be done soon. I certainly appreciate all your research and advise. Thank you so much. Lora
Again, you are quite welcome.