Good morning all! I have a question - my mother and several of her family members have shares of land that they have been leasing for years. As of about 6 months ago, she (as well of the rest of them) have been getting letters on a daily basis wanting to “purchase” the land instead of leasing.
She is very interested in doing so but I worry that she will not receive a fair offer.
How can I tell if they have actually found something on the land? I am her Legal/Durable Power of attorney and have reached out to each of the companies to see what their offers are.
Any advice would be appreciated!
Great question! I would start by going to the Texas Railroad Commission site Public GIS Viewer (Map) and checking out their GIS viewer, and navigating to the property locations that your mother owns in and seeing what the activity looks like. From there, if you all are serious about selling, I would consult a professional through the Directory on this forum and have a pro take a look at it for you. A “fair” offer depends on a lot of factors, but often times, if out of no where you start receiving a flood of letters in the mail to purchase, that means there is new activity on your property and investors are wanting to buy it for the potential income from the new wells. Hope this helps!
Is this minerals under an oil and gas lease or surface being leased for grazing or other use or both surface and minerals? You can look at well permits or producing wells in the area on RRC. Or post the county and abstract or section information and someone on this site can guide you to the information. The surface may be also be increased in value due to possible data centers or other such use, particularly if adjacent to an electric substation.
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If you don’t mind me asking.. what county is the property in? Thanks