Does anyone know what the going rate is for leading mineral rights (per acre) in Marion County, TX? We are being offered $125 per acre. I wonder if this is low given that we recently leased at $750 per acre in Ward County. Thank you.
Cynthia,
It could depend on the location of your minerals in Marion county. Brooks Petroleum has been doing some drilling in Marion county in the last year or so. If you will provide the Section and Abstract # I can see if there is any activity or production in the area of your minerals.
Also you might want to join the Marion County group and present your question to those folks. Go to the main page of Mineral Rights Forum and at the top of the page click on GROUPS and scroll down to your group and join.
Clint Liles
Cynthia,
I post Drilling Permits and Completions when they come available for the Marion County Group...click on this link and put this in your Bookmarks or Favorites.
Clint Liles
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Thank you Clint! Here is the information: Stephen Peters A-308.
Cynthia,
After checking the GIS Map of A-308 I see a producing gas well(API 315-00487) that was drilled in about 1966 into the Pettit formation and is still producing today. Link to production data for well 00487:
http://webapps2.rrc.state.tx.us/EWA/specificLeaseQueryAction.do?tab...
That's good news for you. Also to the southwest about 1/2 mile from A-308 is an oil/gas well that was drilled(Travis Peak formation) back in the 1960's that is still producing. Numerous older oil and gas wells have been plugged in the past. Good news is that there is production in the area. If those were my minerals I would ask for $300 per acre and NEGOTIATE/////3 year lease with 25% royalty and with no production deductions(you should not have to pay a percentage of the cost of processing, gathering, treating, compressing, dehydrating, transporting and marketing or otherwise making such gas or other substances ready for sale). Your minerals are sitting in between 2 old oil fields. One is to the northwest and the other is to the southeast.
GIS Map of Marion County A-308 and surrounding area:
CLICK ON MAP TO ENLARGE
http://wwwgisp.rrc.state.tx.us/GISViewer2/GISViewer/docs/Public_GIS_Viewer_Legend.pdf
Clint Liles
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Thank you!