We own minerals in Howard County and have received a lot of offers lately to sell. We also have NPRI’s in various counties. I advise you not to sell or do anything with your interests until you know their value. I have looked back at most of your posts and the replies and have not seen a property description. That’s the first step. I have been in contact with several companies interested in our Howard County minerals and once I get a property description, I’ll ask them what they would offer. That would at least give you a baseline to work with.
Since you said that the well has been producing, but at a low volume, any production attributable to your interest is taxable. So, there should be a tax statement available for your interest at the Howard County CAD. That statement usually contains a property description of sorts.
If I missed something and you have already done all of this - disregard. If not, I will be happy to assist.
Hello Gary… Sorry I couldn’t answer you sooner but have been with a friend all evening… Yes, you are right about the two approved permits by SM Energy. Well 39287 permit was approved on 9-22-2017 and well 39288 permit was approved on 9-18-2017.
I own 67.9378125 total net mineral acres in Howard County. All of the North half of Section 17 and the South half of Section 19, Block 25 and North half of Section 36, Block 25. Any advice on selling some interest and what a good price would be. Activity in that area???
Angela… there are several companies that buy there. I added you as a friend. I can give you some companies I have had great experiences with (leasing and selling) and the ones I would steer clear from
What now? I am completely new to the oil and gas industry. To my huge surprise I learned a couple of months ago that I inherited royalty interest on Block 32 Section 13 T2N in Howard County from my great grandmother. I have 100% royalty on 8.71666 acres / .0279111752 on 312.3 acres. I have had several fairly large offers to purchase my interest. Any news on this area of Howard County? I am thinking I will just sit on it but are $ in hand better than waiting? Thanks for any input and education you can offer.
I would advise you to sit tight. There are producing horizontal wells to your west and permits to drill horizontal wells to your north and south. If someone is willing to buy your interest then they are going to make money on it. It may be a few years before you get drilled but hang on.
Own 1.7 acres tract 2 NE/4 of Section 31. Township A3N Block 32 Abstract 290. Is there any drilling activity? Have been contacted by several companies who want to buy my mineral rights. The land is currently under lease to Finley Resources for the last 2 years. Haven’t received anything from them. Would like to know what price these rights are worth.
To all mineral owners, STAY AWAY FROM AUGUSTA ENERGY, not sure who they really are but if you are contacted by them STAY AWAY. Made us an offer to lease in Dawson County and we agreed, and then refused to answer emails or texts.
I own a royalty interest in Section 38, Block 33, Township 2 North and in Section 34, Block, Township 2 North. Always have received a few offers a month to purchase, but recently the amount offered has increased by 4 to 5 times and I was wondering if anyone knows why. I know that some of the leases are being worked by Breitburn, which is apparently still in bankruptcy. The others by Callon. I’ve always intended to keep the royalties, but the offering price is getting a little hard to resist. Anyone have any ideas?
I think everyone in Howard County is getting crazy offers. I am not sure if this is a bait and switch or that they know something we don’t know. My philosophy is to never sell minerals. I have never regretted declining all of these offers. You have to be very careful with these buyers as some are not very ethical. I realize others might be in a different position where the interest is very small or they need the money. If you decide to sell, seek legal counsel first on the form of assignment. Also, don’t accept a draft. Trade the signed assignment for a certified check. Don’t give them an assignment without getting the certified check at the same time.
I know the Grenadier people and I have the utmost confidence in them. I can’t speak to their drilling plans but they are honest people. Assuming they are offering you terms that are acceptable to you, they will do what they say.
That depends on what information you need. The Texas Railroad Commission is a good resource to find out well and production information. If you need to know your lease terms, then you can find a copy of that in the Howard County records. If your property is producing and you want to know your ownership decimal, either look at your check stub, most recent tax statement, or go to the Howard County Appraisal District website.
I found a copy of the memorandum for your prior lease that expired on October 1, 2017, but the newly executed one (assuming there is one) does not appear to be filed yet.
Has anyone had leasing experience with Nickel River Royalties? I received an offer to lease in Block 34 Section 34. Offer 5K bonus (per acre) and 1/4 royalty. I’ve been blasted for the past year with sell offers and this is the first lease offer in a long while so I’m curious.
How many mineral acres do you own? The greater the amount, the more leverage you have. I don’t know anything about this company or their personnel. They most likely are seeking to lease in order to flip it for a profit or are leasing it for another company. You should ask who they are working for. If they say for themselves, then you need some stringent assignment language in the lease. While the bonus and royalties are arguably the most important parts of a lease, you should seek legal advice on the entire lease. How the royalties are paid; what can be deducted, continuous development requirements; pooling; surface use if you own the surface and damages; are all important factors.
