Has anyone ever had business dealings with Mayflower Exploration in New Braunfels, TX
We received a letter from them offering an outrageous amount to purchase land that we own in Culberson County, TX
You know the saying that if it sounds to good to be true...it probably is!
Also, my family owns undivided interest in 685 Acres in Culberson County, TX my share is 34.25 Acres. Some family members have shown interest in selling their shares. Any idea how to go about selling this land and how much it is worth.
Depends on the location and what you mean by "outrageous". Culberson County is very active in leasing these days. The GLO lease auction had lease bonus ranging up to $15,000 per acre.
Mayflower is a mineral buyer. If you end up selling minerals, surface, or both, treat it like the real estate transaction it is, I.e. Swap the deed for a cashier’s check or wire transfer, not a company check, draft, or promise of a check. Assume whatever they give you to sign needs to be reviewed, and watch out for deals where you are selling more than you think you are.
Thanks for the information! Can you recommend any lawyers in the Culberson County area?
Wade Caldwell is a very respected Attorney that has helped numerous Forum members with their leases. He is a member of the Culberson County Group and very knowledgable about leasing in Culberson County. I'm sure there are other Forum members that will speak up on Wades qualifications. You're in good hands with Wade Caldwell.
Thanks for sharing your wealth of information! Cyndy
I have been traveling and haven't been keeping up with The Forum the past few days, but I would advise that you do not sign anything or even verbally agree to anything until you know more about what is happening "on the ground".
If you will post your family's legal description(s), I will be happy to look the area up for you. If you would prefer to send it or them to me more privately, then accept my invitation to become A Friend on The Forum. You can send your information more privately that way.
In the meantime, contact your other family members and suggest that they "hold off" signing anything or even verbally agreeing to anything as well until I have had a chance to take a look.
I can do that this weekend when I get home.
I was recently contacted by a family that received an offer of $6,400 for their interests from a mineral buyer. I asked them to hold off a little while until I had a chance to research their properties.
I explained to them that while most mineral and royalty buyers are legitimate, some take the Low Road. That sometimes the company knows more than they do. That perhaps they had royalties from oil and gas production being held in suspense by the oil company(ies) because they couldn't find them and maybe, just maybe the mineral buying company was trying to buy their minerals "using their own money".
Sure enough, when I researched their properties, it turned out that they are owed something over $320,000.00.
The Pond Scum at the mineral buying company were trying to buy their minerals, not only using the family's own money, but at an incredibly instantaneous profit.
I advise no quick decisions. Patience is a virtue.
Charles Emery Tooke III
Certified Professional Landman
Fort Worth, Texas
OMG...thanks for the wealth of information! We are sitting tight! Our lease expires July 2017.
I will pass on the information to the rest of my family!
Will be in touch when we need legal counsel. We are sitting tight until our lease expires in July 2017!
Send me the legal descriptions. A copy of your lease may have it or will reference a Deed that has it.
Otherwise, maybe your Tax Bill.
Hello all, so happy to find this group as I am at a loss. I received an offer to sell mineral and or surface rights to 49 acres in Culberson Co from TAS. The offer was not large but I am at a loss as to what the value would be. I see a lot be acre and this was only 200 or so per acre. Could someone advise as to worth of the mineral and or land. Ab2328 blk 82 sec 1swss. Thank you in advance
After checking the GIS(Geographic Information System) Map I see no production or activity for at least 20 miles in all 4 directions. Some wells have been drilled in the past in the distance but apparently they came up as dry holes. It's hard to say what the surface and minerals are worth. Hopefully someone else will chime in with their opinion.
GIS Map of Culberson County A-2328/Block 82/Section 2 and surrounding area:
CLICK ON MAP TO ENLARGE
Thank you so much for the information I appreciate it Mr Liles. My father always thought it was the water that might be valuable never considered minerals or gas/oil. I’ll wait to see if anyone has additional info thank you again.