Most of the information I usually need has to do with activity in Reeves County, but I am trying to help my grandmother find some information regarding her mineral rights in Midland. Hopefully, someone will be able to help us, or point us in the right direction.
My grandmother has mineral rights for Atrelle A, Section 32, Block 38. An offer was made to purchase her mineral rights, which she agreed to do. The oil company has said that she owns less than what her records show, and what previous leases show. How do I verify this on my own? One of the things that I am trying to locate is the Division Order TItle from Pioneer. I have had no luck locating it on my own.
Any suggestions? Also, what is the going rate to sell per net mineral acre?
Thank you.
Hi Stephanie - one thing to be aware of is that leases typically refer to gross acres in a given tract and not the net acres owned by the individual lessor. You may very well be aware of that. Anyhow, the only real way to verify the net acreage ownership on your own is to hire a landman to run the title for you but that could cost a pretty penny depending on the tract's history. You can also use appraisal district data to calculate the net acreage using the gross acres in the lease, royalty rate, and ownership decimal per the appraisal district. Not as much of a sure-thing, but that's typically a good indicator.
I found the lease and tract you mentioned in your post above and it is in a great area. I would guess that the going rate per nma to sell could be as high as $20,000 depending on the royalty rate and other terms of the lease. If your grandmother has already entered into a written contract, though, it may be too late to find another offer.
I don't believe that my grandmother has signed anything yet. She is waiting to get confirmation on the actual amount of ownership. Thank you for your insight! It is appreciated.