We inherited lease rights in Leon County, tract 1, legal (part of) Thomas B Cox Sur,A-167 ABST/ID 167) 46.470 acres.
We were contacted by a landman for EOG in 2012, requesting to renew the lease for a second term. At that time, we had just inherited and didn't really know anything about leases and were thinking of selling. He said not to sell that our neighbor was getting royalties and made it sound as if EOG was going to drill. 3 years later nothing has transpired and the lease is up in August.
How do we find out where the land is located and whether it has potential so we can made an informed decision as to whether to keep the land or sell?
Click on the magnifying glass icon at the top of the opened page
Click "Surveys"
Choose "Leon" county from the drop down list
Enter "167" in the abstract section
Click "Query"
The map viewer will zoom to A-167 and highlight it in blue
If you see a well of interest, go to the icons at the top of the map viewer and choose the blue circle circumscribing the blue letter "i". Choose "Wells" and then use the mouse to place the cursor on a well and click to reveal a pop-up information screen.
After checking the GIS Map I don't see any activity or prior activity close by your minerals in A-167. The nearest production is to the West Southwest in the area of and surrounding the Hilltop Lakes Golf Course.
You are welcome. Don't forget that there is almost certainly potential or EOG would not have leased. How sad if you sell your minerals for a few hundred dollars an acre and Spindle Top #2 comes in on A-167. If you need the money badly, perhaps you could sell 1/2 of the minerals outright or pursue some sort of loan (see Mr. Tooke's comment) http://www.mineralrightsforum.com/forum/topics/can-i-pull-loans-out...
Carol M Godfrey said:
thank you for your response. The land was sold a long time ago and the minerals were kept.
We don't need to sell the minerals but because there are 5 heirs scattered about the country, the question became is it worth it to keep them or sell. Sounds like keep so keep we shall do. Thank you again. What is Spindle Top #2?
We don't need to sell the minerals but because there are 5 heirs scattered about the country, the question became is it worth it to keep them or sell. Sounds like keep so keep we shall do. Thank you again. What is Spindle Top #2?
May I suggest that you Call Morgan Landry 337-280-9251. He's a contract landman for BRG, Operator out of Tulsa. But, don't hold that against him ... he's a really nice guy, and so far, has been totally honest with me. We have been negotiating terms on an O&G lease for my land in Robertson county since September. I heard that BRG is moving towards Leon county. I don't think it would hurt matters much by calling Mr. Landry. Just give him the exact location of your property and see if BRG has any plans on leasing in that area. Maybe you might be able to "stir up" some competition!
