I recently learned about this website which has been very informative. I've been trying to learn more about the mineral rights I inherited and their worth. I receive many offers from what you call Landman but not sure if they are valid offers for the worth of the rights. My rights are in Glasscock County Section 26 Block 36. Is there a legal process when working with landman, they make offers and seems there is a requirement to see the deeds but how do I know they are legitimate and at what point would a change of deed and monies be exchanged? In advance thanks for your help with this matter.
Thanks!
Sandy
Sandra,
Welcome to the forum. I pulled up the deed where you obtained these minerals, and it looks like they reside in the E/2 of the SW/4 of Section 26, Block 36, T2S, Glasscock County, TX. The "T2S" portion is important because there is more than one Section 26, Block 36 in Glasscock County.
Typically, unsolicited offers to buy minerals represent a small fraction of what they are actually worth. Your minerals are in a very active area. Pioneer is drilling a lot of Horizontal wells in the sections north of yours. (See map below)
If you are wanting to sell, my advice would be to contact one of the forum sponsors that may be able to assist you. They can probably give you some insight on what minerals are selling for in that area. You'll want to make sure that a purchase agreement makes it clear that the buyer has to pay you if the title examination reveals you own the amount of acreage they think you do. Some mineral buyers will use the "diligence review period" as a window to try to find someone to flip the minerals to. If they can't find a buyer, they'll point to some clause in the purchase agreement that will let them walk away. My advice is to not sell the minerals if you can ride it out and see what happens in the next few years. Best of luck!
http://marketplace.mineralrightsforum.com/ad-category/minerals-management-consultants/
Pamela,
I have worked as a landman in this area for many years and currently reside in Midland, TX. That being said this is basically in my backyard, and I'm very familiar with what the going prices are and would be happy to help you with any questions you may have, as well as explain the process. It never hurts to have a little local knowledge to help. I sent you a friend request so we can discuss further if you'd like. I'm happy to assist in any way possible.
Kind Regards,
Ryan Williams
Thanks for all the info!!
Sandy
