Looking at the possibility of selling our mineral interests. No final decision has been made. The acreage is about 150 acres in Lavaca County, TX, about 8 to 10 miles N – NW from Hallettsville, Tx Before hiring an experienced oil & gas attorney to manage the sale, ownership transfer, and collection of the “agreed to” purchase price, I have some questions:
1 - I have been told the best way to evaluate competing purchase offers is to measure them based on purchase price per net mineral acre. Is this true?
2 – There are a lot of rumors circulating about the current market values (per net mineral acre). Does anyone have an idea of what the current low/high values range for net mineral acre is selling for in Lavaca Co.?
3 – Our current lease agreement does not end until 2027. If we sell before then, are we responsible for returning any portion of the lease bonus we initially received at the start?
4 – It is my understanding that current legal expenses will range between $250 to $400 per hr. Is this a reasonable estimate for legal services?
5 – After supplying the lawyer with all the required information (no research involved), approximately how many hours should it take a lawyer to complete the entire transaction?
6 – Can anyone recommend a knowledgeable oil & gas attorney familiar with Eagle Ford Shale and Lavaca Co. who could provide the legal services I am looking for?