Clint, so does the well have to be located within the blue box on the map to be of any interest to me? Thanks Ron
Ronnie after checking the plat map at the bottom of the approved drilling permit this unit only pertains to minerals in Section 26/A-1293.
Correction on being Abstract 139…Should have been A-1293.
TRINIDAD DRILLING RIG #430 rig gone, pulling unit on site pipe in derrick.
Greetings. Newbie to O&G leases. Inherited 3.1152/2 net mineral acres in Section 25, Block 31, Township 2 North, T& P Ry Co Survey in Howard County, Texas. My Dad was receiving $500 per NMA (Apache). We were recently offered $1000 NMA by SM, we declined, the current offer from SM is $3500 NMA for three years, no extension. Compared to known adjoining production, is $3500 reasonable? I’m hearing $8000 NMA is not unheard of elsewhere in Howard County. Like Publius, we can afford to wait. Thanks!
My family and I have 2 areas of land for lease in Dawson County, there are 4 of us, we only own the minerals, we do not want to sale, we have one area that is 240 acres, it is in Block 35 section 2 T4N, the 160 is in Block 35 Section 28 T5N. please contact me at firstname.lastname@example.org if you have any questions. thank you
The offer is up to $4K NMA in Section 25, Block 31, Township 2 North, T& P Ry Co Survey in Howard County, Texas. Initial offer was $1.5K.
Gaylon - There are several horizontal wells near your tract; There are two that cross into Section 47 just to your west. I think I’ve seen people post about lease bonuses being $4,000+/acre with a 25% royalty not too far from you but would need to look back at past posts to be sure. A sale should bring some multiple of that, maybe 3 times.
New member. Have mineral rights in section 1 Block 35. Current lease is expiring next month. Have 1 offer. $2,000/nma, 25%, 3 years. What is going rate?
Mark, $9k per acre is fair considering the acreage is HBP by vertical wells, which means the operators have little incentive to drill horizontal wells in that section any time soon. In addition, since it is a royalty interest only the mineral buyer will never be able to negotiate their own lease terms i.e royalty and bonus.
Also, one of the easiest ways to determine if you should be being paid on royalties is by going to the counties appraisal website and typing in the last known owners name. In this case your friends grandmothers name. If she is owed anything then it will be reported to the county. Your friend will then need to contact the operator with proof of ownership/heirship to have the funds released. Feel free to PM me if you have any other questions.
is the Block 35 section 1. is that T2N?
My friend has been offered $9K purchase price for 20/324.5 interest in a royalty deed in Section 14, Block 32 T1N.
It is still deeded to his grandmother who passed in 1969. She had it since 1956. It doesn’t appear that anything was ever received on it and we can’t find evidence of unclaimed property.
Several questions -
Is this a good offer, considering title has to be cleaned up?
How can I find out if and where there might be any unclaimed royalties due?
Craig, it’s interesting that even royalty that is “escheated” to the state of Texas, doesn’t really go to the state of Texas. The oil company still holds the money but the state of Texas charges 1.5% for aiding in retrieving your money.
“Escheat” is a term often used incorrectly, when a company has transferred custody of funds from their own books to the state. In fact, the company has only “reported” funds to the state. The state has not taken ownership of the funds, and will continue to hold them until the rightful owner comes forward. Actual escheatment of property is very rare, and only done by government offices.
Good morning. I just received a document “RATIFICATION OF OIL, GAS, AND MINERAL LEASE with Authorization for Pooling” requesting my signature as a non-participating mineral owner. This is Howard County sec 12 block 33 T2N. Can I have any information-advice on pooling please? Thank you.
Current offer is $8,000 /NMA, 25% royalty, 3 yr lease.
Richard - I also own in that section. I assume you’re in the northeast quarter as I am? That lease offer is pretty phenomenal.
Richard - we’re in a great area. SM Energy’s two Top Gun wells a couple of miles to our north have produced about 312,000 barrels of oil in their first 6 months combined. A lot of smaller companies are hoping to get small non-operated working interests in wells like that and are tossing out offers like that to do it.
I have received Division Orders on horizontal wells in Sec. 12, 13 Blk 34 T2N from Diamondback E & P, but I can’t determine if these wells are actually in production or if they are just trying to avoid paying another bonus. These documents came in just prior to the lease expiration. These are for ASRO 13 Units 1 WA, 1 WB and 1LS. Does anyone know if they are actually producing yet?
Michelle - Yes, they are producing and are exceptional wells. You should be getting some very nice royalty checks even for a small interest in those wells. Congratulations!
Thanks, Marcus! I appreciate the info.