I own mineral rights in Huxley Texas. I have been contacted by a company to purchase the rights. It is A-287. Is there something happening that I should know about? New Activity? Thanks.
I wouldn’t doubt it. There is activity going on in the Eagle Ford Shale area, especially in LaSale Co, TX and near by counties.
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Someone probably has an inkling of pending activity. Exxon had some expired horizontal permits in the abstract and nearby. There are two rigs running nearby just south of Huxley for long horizontal wells. So if you don’t need to sell, sit back and see what happens. First offers are usually low to see who will bite.
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Don’t sell your rights! If some company is trying to buy them, that means there’s potential for future income for you. Whatever they’re offering you is a fraction of what they think the future potential of your mineral rights could payout. My brothers and I own very small amounts of mineral rights on 4 sections in Ellis County, OK, and we’ve been getting under-$100 checks per month from 10 wells combined. But the buyout offers have been coming for years. That tells us they know something we don’t. Now, all kinds of legal things are going on with those sections, and two more oil companies are vying for a permit to drill into a new source of supply at 10,385 feet deep. One proposal is to drill a new horizontal well under 3 sections that would be 25,385 feet deep. 4.8 miles. NOBODY would be planning to go to that much expense to drill a well like that unless they expect a huge payout! We’re hoping our little bit of rights will give us some decent revenue. We didn’t even know we had mineral rights until a few years ago, this land was our great-grandparents ranch, who we never knew. So if you own rights, hang onto them! Don’t let someone else pay you pennies for your future dollars.
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