I own mineral rights in Matagorda County, which were inherited from my father about 10 years ago. He had them since the early 1930’s and the area produced for many years. However, slowly the royalties have been diminishing, the leases have been transferred, and/or production has stopped. My taxes for Matagorda County in 2019 were very low. I’m wondering whether anyone knows what is going on in this area. Is it depleted for good? Are there any possibilities for the future? New technology? I have not received any offers to buy recently either, which also makes we wonder… I imagine there’s nothing I can do, except just hold on and see what happens. However, I’d love to hear from someone in the business what the current thinking is about this area. Many thanks…
Dear Ms. Wylie,
Matagorda County is not a good county for horizontal drilling. However, for decades and decades is held wonderful exploration opportunities for conventional (straight hole) exploration.
Most of the capital exploration money is going to horizontal drilling opportunities. At some point, that may change.
Matagorda County has had all of the land evaluated by 3D Seismic. That data is available for any geologist/geophysicist to acquire and explore for trapping mechanisms that perhaps have been overlooked in the past.
Until there is a change in technology and availability of capital, there is not much hope for new exploration (continued development drilling, of course).
Wish you the very best,
Buddy Cotten
Dear Buddy, Thank you so much the the information. It is very helpful as I am reaching an age that I need to inform my heirs what this is all about. Your last sentence contains the phrase (continued development drilling, of course.) Would you explain that to me? Does it refer to present drilling still going on? …or?? Thank you, Dee