My family recently found out that we own mineral rights in LaSalle County. The property we no longer own, but when the property was sold in 1951, the family retained 50% of the mineral rights. We know this because Patch Energy wanted to buy the rights from us. The property currently has two wells on it producing 1,500 barrels of crude daily. I know this by looking at the W2s on file with the Texas Railroad Commission. I am in the process of hiring an attorney to prove ownership and acquire monies in receivership and begin collecting royalties. These wells at the current rate of $50.00 per barrel can produce $27,000,000 annually. They are horizontal wells accessing around 500 acres. The question is how are royalties determined when the wells are pooling several tracts of land to have this production capability?
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