Great forum. I was happy to find this site.
My story as a micro mineral owner is this.
We sold our quarter acre home lot minerals 3 years ago for 3k an acre and 22.5% Roy.
I signed before the peak of 26k acre signing bonus when the holdout group had not yet formed. :(
We heard nothing for 3 years.
Now we get a letter in the mail from someone wanting ot buy our minerals out right.
They guy didnt seem very honest when I met him. He gave up no info on positive potentail of my lot
but was quick to state all the negatives. I didnt trust him as far as I could have thrown him.
What a perfect time to buy peoples minerals when the econmy is so bad and NG prices are at an 8 year low (3.86). I had no intention of selling but was after information.
He offered 2k to buy me out.
Chesapake owns my rights. They have been drilling next to Wallys for months and according to the TRC gis viewer there are already 10 wells from that pad alone. 4 in my general direction and they have a rig up even today. I learned from this "investor" that the "Unicorn" well is mine and is already drilled and probably being frac-ed. So production is either ongoing or soon to come.
He claimed I would get about $150 per year or $20 per month with my 1st check 8 to 10 months away.
Then he went on about how my taxes would be so high I would practically being paying to have my minerals. lol
One of many things he didnt say, and didnt want to admit when I brought it up is that I am pooled into the entire lease and will get proceeds from all the wells output within the entire lease.
Say they drill 4 wells on the lease, my $20 per month became $80 per mo, and thats at 8 year low NG prices. It could double from here easily, even though there seems to be an over supply of NG with all the shales in the US producing. That wont last forever I think.
So now lets talk about potential if gas doubles to 7.72, and I have 4 wells.
Thats potentially $160 month?
Anyway, I just wanted to run this stuff by the people here and see what they thought and if my reasoning on the potential of my little qaurter acre lot makes sense and my reason for not selling is sound.
Also, Im having a hard time trying to find out any info on chesapeake gas activity in Burleson Texas...and cant seem to figure out how to learn if my wells are producing and if so how much, or at least nearby wells, what the boudaries of my lease are especially the acreage, probably all the usual questions mineral owners have.
I thought I read somewhere once that the Barnett has the potential for 20 acre spacing for wells, if so and I am on say a 200 acre lease, then would not the potenail be for 10 wells?
Best case good 10 wells, NG doubles in price, mo check could be $360 mo?
Is my reasoning on ( albeit far fetched ) potential flawed?
My sister has 1.7 acres nearby, her check has dropped a lot from the start but was still $400 this month. Comparing my 1/4 acre to hers my check should equal about $50 as of today.
She has 4 wells at 25% roy.
We are in the JW Henderson survey behinf Walmart. A-376 according to TRC Gis viewer.
In any case, Im not selling my minerals. I consider it part of my retirement income someday and think that his 2k offer buyout was laughable.
All opinions or comments are much appreciated regardless of viewpoint.