Mineral rights total newby here! Received an offer from Sean Butler, Drake Exploration, LLC for mineral rights I didn’t know I had inherited in Houston County, TX. Got the typical lowball initial offer, but was wondering if anyone has an idea of what the NMA should be for this survey. I don’t see this survey mentioned anywhere on this site so far. I already plan to counter at 22%, rather than accept their 18.75%.
In my research, I see that the Joseph Walling Survey is about 12 miles northwest of Grapeland, TX. Exact reference in an old document is “Joseph Walling Survey 1056, lying about 12 miles N 30 W from Grapeland, TX”. Abstract number is 1070. I also have not been able to find any of the wills or deeds with my family’s names in the online searches of county records or TexFile. So, do I take the landman’s word that he has found the specific documents he says he has? He said he has both. Should I hire someone to find them for me? I’m 1000 miles away, so going to the county myself is not possible.
Last, the offer was verbally stated as coming from Drake, but the actual lease refers to agreement between me and Expand Exploration, LLC in Oklahoma City, OK. Any problem here that any of you have experienced? I know Expand belongs to Chesapeake Energy - correcrt?
Many, many thanks in advance.