Hi All: Am very new to this and just joined this forum today...hope this is the right place to post a question. My sister and I inherited some mineral rights and we know nothing about it, except the description: All of Section 8, Block N, HE&WT Survey Pembrook Unit Tract 4. We don't know the size of the land or anything, except we registered with Pioneer Oil and Gas and get small monthly checks. We are now receiving some offers in the mid 30K to 40K range and need to educate ourselves.
Could anyone give suggestions as to finding the information we need? Many Thanks. Nancy.
The minerals you and your sister inherited are in a very good location in Upton County. Three wells have been drilled and go thru Section 8. Pioneer Natural Resources completed well API 461-40154 and 40156 in Nov. and Dec. 2015. Well 40155 was completed in January 2016. I can find no Production Data available at this time on these wells.
Completion Report on well 40154 1Hshowed-777 BOPD(Barrel Oil Per Day)/690,000 MCF(Thousand Cubic Feet)Gas Per Day
Completion Report on well 40155 2H showed-1,025 BOPD/1,040,000 MCF Gas Per Day
Completion Report on well 40156 3H showed-1,042 BOPD/1,312,000 MCF Gas Per Day
Some fantastic wells here and more wells could possibly be drilled in this Section. I don't think the offer is sufficient but that depends on the percentage of minerals you and sister own on this section. Do you own 100% of the minerals?
Thank you so much Clint for this information. I believe we do own 100% of the mineral for this description given above. But if not, don't know how to find out. We do get a print out which comes with the small monthly checks we receive from Pioneer (she owns 1/2 and I own 1/2), but we don't entirely understand that either. Neither of us knew anything about oil and gas nor that we had inherited the property until a few years ago and we still are trying to find out info.
Upton County Appraisal District website indicates you own a fractional interest in a Pioneer well. http://uptoncad.org/
It appears you and your sister were granted your interests from a Connally Trust.
You might sign up for an account with www.texasfile.com [I have no financial interest in texasfile.com other than I am a user] and attempt to learn more.
I believe if all of your acreage was included in the drilling unit, you might multiply the number of acres in that drilling unit by your fractional interest and arrive at arrive a rough estimate. I believe you would want to be careful to sell only a very specifically described parcel for a set price per acre if you sell at all--don't sell all your minerals in Upton county under a blanket statement as you might have more mineral acres of which you are unaware. [<--Read that again, please.] I defer to those with more knowledge on these matters in this forum, and I am not an attorney.
Thank you so much, AJ for this information....will look into both of the links you provided. You know much more than I do about any of it :-) so every lead to understanding more about it is very valuable. Best, Nancy.
You are welcome, Nancy. I searched Upton CAD website for both tax years 2016 and 2015. 2015 had the Connally Trust reference. I assumed you would be familiar with it. If not, there is an address. Maybe others will weigh in with better guidance. Without obligating yourself, you might phone one of the mineral purchasers and inquire as to what holdings exactly s/he believes you own and request a description. You might inform him/her that should you decide to sell, your attorney must approve all documents. Oil companies [not mineral brokers] acquiring minerals in some hot areas may pay $20,000+/acre for large tracts, e.g., billion dollar deals in Howard county. They are not paying that much with a mind to losing money. Best wishes with your due diligence process, AJ
Hi Clint: Still trying to learn to navigate this site...but thank you for the friend request and all the information you've provided. You are right, we are 'neighbors' in East Texas and am sure everyone you've helped understand the facts about oil/gas are very grateful to you...I certainly am! Nancy
I am in a similar situation, with my 2 sisters and I having inherited mineral rights in Matagorda County.
I am interested in knowing exactly what activity goes on there. Is is shale? Are they producing oil, natural gas or both? Is it a high or low productivity area?
Some of the leases we had that were active are being released now, and we are gathering information so as to know what to do about this for the future....our children ,grandchildren, etc.
I'd just like to get an idea of what the experts have to say about the productivity possibilities, if/when the price of oil goes up and/or the global market has some kind of shift..... or any other information you think would be useful information for us!
I have the original deed from the 1940's. It is 12 pages and full of incredible detail. I think there are many tracts involved. However, perhaps this will help:
It says it was recorded in Deed Records of Matagorda County May 15, 1940 in Volume 134 at Pages 245-247. The name would be Parkman Sayward.
