Some time ago, I inherited 67.02 acres of mineral rights in the J.C. Neil Survey area. My siblings also inherited, and I believe that we each have 67.02 acres, not 1/4 of that amount, but I’m not certain how to confirm that.
Two years ago, they (my siblings) insisted that I agree to a mineral lease with Gulftex. They made it seem like it was necessary for all of us to sign, but from what I have researched since, I don’t know if that’s actually true. Either way, we’ve heard nothing from Gulftex since signing the lease (outside of getting the bonus check). But I have received a lot of offers to purchase the rights.
For a while, I was against the idea, knowing that conceptually you get more from keeping and leasing. But if I’m honest, this entire thing stresses me out and I would really rather be done with it. I know most people would still suggest I keep them, but I don’t want to and I could really use the money right now anyway.
So ultimately, my question is how do I go about doing this properly? Is the process of selling mineral rights any different from selling actual land? How do I go about assessing the value? How do I confirm exactly what belongs to me and what belongs to my siblings?
I know this is a long post and those are a lot of questions (I actually have more but I’m trying to chill), so apologies for all that. I really would appreciate any insight you all can offer.
It looks like you have a mineral interest in a 67.01 parcel in the JC Neil survey. You and your 3 siblings look to share the mineral interest so it would be 1/4 ownership IF between all of you 4 , you all do own 100% interest. It looks like you inherited then in 2008 ?
That would be 16.7525 acres on your part…I believe Gulftex was leasing for $700/acre so your check would have been for 11,726.75. Another thing you can do is take the amount of your check and divide it by the $’s per acre you leased for…and this would tell you how many mineral acres you have.
It looks like this lease was recorded on 6/14/24, but they love to hold them a long time before recording so my best guess is that this was done Jan-March of 2024.
You can also call the attorney that helped you with the lease, if you used one, and they can tell you your ownership percentage, and mineral acres.
I live very close to this tract and I believe you have received many mineral purchase offers…but they are going to one of your siblings address…odds are the sibling who worked on this lease with either landman or attorney.
All these Gulftex leases were leased for EOG, so you are leased with EOG.
In my opinion do NOT sell. This area is already marked for drilling, which could commence anytime from now until Dec 2026.
If you do still want to sell you should take nothing south of $5000 per acre, that is the max they usually pay…I have names of many companies but I believe this forum prohibits them being listed..I could get removed. You can also talk to your siblings, one of them might want to buy you out…and then it stays in the family.
How do you know this area is mark for drilling My family did a lease with Gulftex & then EOG bought it from them in Lavaca County Our lease runs out in April 2026
Gulftex leases for EOG. Your lease should have been a 3/2, meaning a 3 year primary with a 2 year option EOG can take by paying you the lease money again. Are you saying your lease was strictly a 3 year term ? no option ?
In what survey is your mineral interest in Lavaca county ? By your user name you are not the person I responded to earlier in the Neil survey.
I can let you know more information about your area.
Yes Sir our lease was 3 yr no option on 1000 acres located J Flick 1/4 League B Whitson Survey & E Tribble Survey Lavaca county TX Lease originated with Nichols Resources then to GulfTex/EOG April 2023 if you need any other info let me know Thanks for your help
The activity is a little north of you. Rocky Creek in 2018 did a well , and 2020 Marathon did several. The Rocky Creek well was assigned to Marathon years later.
These wells are Nat Gas + a little Condensate. No activity on your tract or to the south. No permits as of today, and with an expiration next spring it is doubtful that anyone would be able to have production going before lease ends.
I guess Gulftex was assuming Marathon was going to take it, or that EOG would go that far south…but EOG had poor results on some wells just south of Shiner earlier this year…EOG is doing Austin Chalk wells, but they are all north of US 90 (between shiner and Halletsville) where the Austin Chalk shows a major pay line that heads to the northeast up to the Fayette/Colorado county lines.
It is possible that Gulftex might offer you an extension, since Nat gas should be going up in price the next couple of years due to AI expansion. Not sure who the driller would be though. If Gulftex offers an extension but their price per acre is low, you might want to wait for a “driller” to contact you. Good Luck
Do you have any insight on EOG’s plans to drill in the Edwin Richeson Survey, A-40? They leased with some of my family members in May of 2024. Three year term, with three year extension clause
As you may know, the Richeson survey has been drilled out by Matrix west of FM 1295. … so your tract must be east. In 2023 Gulftex and San Luis leased most of this area and these leases became EOG leases…EOG under their own name leased again in 2024, and then did their 100% fill in early 2025 after the “Francis” well came in strong by Weid. EOG is drilling Austin Chalk wells with approx. 1250 acre units and 10,000 foot laterals. Each unit can only support 3-4 wells since they must be about 1000 feet apart.EOG recently permitted the Holbrook and Chapman units just south of Richeson survey. They will put 6-8 units above these 2 units going up to the Lavaca river in 2026. Drilling 1 well per unit. EOG uses 1 pad to drill out 4 units. There are 2 pad sites for these 6-8 units. One is on the curve of FM 340 close to CR 195…the other is CR 195 close to Cr 150. Not sure where your tract is so not sure which unit you will be in….but it will be soon…Good Luck !! FYI–these units are tilted to a northwest/southeast angle. Also you can see that Topographic has already surveyed the tracts…most have pink/red plastic ribbons on corner post.
Thank you!! It is my wife’s family and they have started receiving many offers to sell their rights. I’ve implored them to hold onto the rights but a few of the family members think it’s because I’m only interested in my wife’s inheritance (which is comical; it’ll be years before we see any royalty checks and i’m assuming the wells will be well past peak production. Hardly worth starting a feud over). Is there somewhere online I can see where the 2026 wells will be drilled? I’m thinking if I can share this with them that’ll satisfy them! Again, thank you for your insight