let me start by saying ....i know somewhere between, very little and nothing about mineral rights, royalty's ect. ,.. i have been an investor in real estate and owned a ad agency and other things over the years..
with that said i have for some many years owned and have the deed to 10 acres mineral and mineral royalty's in Dimmit county Texas.
it has been drilled on before but nothing came of it. i was pretty much convinced after some research, around 1994 that it was pretty much worth less and filed it away.
i recently have received an offer, and after a few days of research on the Texas RR site and others ..... think it is because of new technology, that this 10 acres many have some value.
it is obvious that their is a lot of activity in the area.\
i took the offer to my attorney the day i received it, but have not heard back yet. so in the mean time i'm just trying to find out what i can. i also sent it to a high school friend that is in the oil bus. in Texas but have not heard back from him either.
with out going over the payed up oil and gas lease they sent me in total,,,,, which is long and nothing like real estate leases i know about .. , but just by giving the general info from the cover letter, i'm wondering if anything can be known.? from what i can tell so far it seems to be ok...thanks
The offer is........
500.00 per net mineral acre for primary and 250. per net mineral acre for option
term is 3 years with a 2 year option paid up
or bonus 250. primary and 250. per net for the option
royalty of 22.5 per cent
thanks for anything you can tell me with this little bit of info