I don’t see much discussion going on with this group. I am fairly new to this business of mineral rights ownership. My small share is with the Nix wells in Howard County. Is there a tutorial to teach me about it?
Welcome to the oil and gas business! There are several good places to start. The Mineral Help tab above is one source. The blogs are another source. The National Association of Royalty owners is committed to teaching minerals owners. They have a Category on the site. NARO is the label. Wade Caldwell is the president of the Texas chapter. You can see quite a few comments from him that are very useful. There is a good booklet by Jim Stafford called “Look before you Lease”. The NARO headquarters used to have copies for new members. Their website is www.naro-us.org. I have also found it Amazon. Read the discussions in the counties around your county as they may have similar concerns.
Oh, THANK YOU THANK YOU THANK YOU! I will get started in educating myself!
Anything that I tell you is fellow rookie advice.
NARO offers some books and resources, certainly worthwhile. Occasionally they offer a seminar in Big Spring - one last year that was worth the time.
Learn where your wells are on the TX RRC GIS map. If you know your landmarks in Howard, you may not need to find it using legal description. Once you find the well on the map, you can find out more about it by clicking the permit / API. The site has instructions. You will probably get some input about that from some of the pro guys here. If you need to use the legal description, start with the Land Office GIS map and specifically ask a follow up question about using the map. The legal description should be on your lease and on a division order.
I’ve taken some of the mineral owner classes with TCU, and learned a lot. Despite being helpful, but if you have already leased all the rights that you own there may not be a lot of financial return / benefit for the cost. If you haven’t signed a lease, you would do well to take a class first.
The amount of information available here heats up when the markets are hotter.
I learned that the “production curve” on a new well goes down pretty quickly, so don’t plan on your income going up unless the price of oil goes up. Even recent supply issues in the middle east are not sending the price of oil up a lot.
Greetings, you’ve found a great community of people here who are in various aspects of the mineral business. This site is such a valuable resource. You can find out what offers are being made in your particular sections and in general activity. I found the best was to get the most of this site is to start posting your specific questions and explore some of the threads that are already in progress.
best of luck! my biggest piece of advise - educate yourself before you make any decisions! Again, this is a great first step.
I second the recommendation on learning to navigate the Railroad Commission’s on line system, particularly the GIS map, Permitting and Completion report sections.
Below are links to RRC’s on-line Oil & Gas Section and a tutorial on how to use their GIS map section. This will all seem confusing at first but dive in and I bet you’ll pick it up quickly.
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