Just received a letter that I own mineral rights in Lasalle, Gardendale Colony Lands-split with other family members - mine is only a couple of acres....not sure what to do next? I am in SC and have no idea about such matters! Since it's such a small amountshould I just sign the lease? ANY advice or info is much appreciated!
Dear Ms. Usry,
Gardendale Colony is going (it appears) through a boom of permits by Chesapeake and others. Mineral acres, like politics, are always very local in nature.
The short answer is do not accept the first offer.
Charlene:
I agree with Mr. Cotten in that you should not take the first offer. This acreage is located in the Eagle Ford Shale area which is currently "hot". Market your small amount of acreage and study up on the going bonus rates and % royalties for this area.
Where is the best place to research this information?
charles s mallory said:
Charlene:
I agree with Mr. Cotten in that you should not take the first offer. This acreage is located in the Eagle Ford Shale area which is currently "hot". Market your small amount of acreage and study up on the going bonus rates and % royalties for this area.
Charlene:
I would go to "Groups" at the top of the page, click on "County Groups" ; find Texas then LaSalle County. You can read what others have posted about this area and even add your own comments/questions.
Charlene Usry said:
Where is the best place to research this information?
charles s mallory said:Charlene:
I agree with Mr. Cotten in that you should not take the first offer. This acreage is located in the Eagle Ford Shale area which is currently "hot". Market your small amount of acreage and study up on the going bonus rates and % royalties for this area.
I agree with all of the above. Oftentimes one will see something such as: your net minerals are 2 acres. While this may be a fact, you may own a certain percentage of several hundred acres, but your percentage is often broken down to state your net minerals, which can be quite misleading. My point is that 2 acres in Eagle Ford Shale may NOT be "small" at all, but rather quite significant. You may be part of a larger, undivided mineral estate.
Dear Ms. Usry,
By chance did the offer come from a company located in Laredo, Texas, who wanted to purchase all of your minerals and royalty? They have working that area pretty hard for some time now.
No, it is Redsky in San Antonio. They offered a $1000 bonus per acre and 3 yr lease at 25%.
Buddy Cotten said:
Dear Ms. Usry,
By chance did the offer come from a company located in Laredo, Texas, who wanted to purchase all of your minerals and royalty? They have working that area pretty hard for some time now.
Best,
How in the world would one know? Does it make a difference in the agreement?
Ron Hicks said:
I agree with all of the above. Oftentimes one will see something such as: your net minerals are 2 acres. While this may be a fact, you may own a certain percentage of several hundred acres, but your percentage is often broken down to state your net minerals, which can be quite misleading. My point is that 2 acres in Eagle Ford Shale may NOT be "small" at all, but rather quite significant. You may be part of a larger, undivided mineral estate.
Redsky is a brokerage for Chesapeake. Their offer, I think, is modest.