Back in 2022 my mom was offered $2,300 to purchase 100% of her right, title, and interest in the oil, gas, and other minerals located in Loving County.
Tracts: NW/4 and NW/4 of the SW/4 of Section 20, Block C-24, Public School Lands, Loving County, Texas
About a quarter of an acre Net Mineral Rights.
She did not take the offer; she made a call and received another offer of $40,000; which she did not take either.
Based on what I’ve read on this site, Section 20 has been producing since 2019. Everyone recommends contacting an Oil & Gas Professional to negotiate a lease. Can anyone point me in the right direction?
this smells like $$ in suspense, attributable to this interest, that one of the wolfpack has sniffed out and is wanting to take title to. Only specific homework will bring the facts to light. Do you have any of this in writing? If so, a critical item is the effective date of transfer…. which is revealed oftentimes only in the deed of transfer.
Taking title to $$ in suspense, (dollars already in the hands of the Operator, that belongs to the mineral owner), without the mineral owner understanding what is happening, is one of the oldest tricks in the books from unethical mineral buyers. Sad but true. On occasion, ethical players will explain this to you, but I’m afraid those are few and far between.
Pro help, specifically working for you, under an engagement letter, is the way to go.
Conoco Phillips Pistol 24-20 1H has been online since 2015. They have a new well called Shockwave Unit 2151H which was completed in late 2024. The buyer wants those royalties. Contact Conoco Phillips to see whether or not your mom is in pay status or if they are holding revenue for her. Also check the state treasurer’s office for unclaimed funds. You can do that for free and then see if you need an attorney. The sections around there have multiple horizontal wells permitted, so this section also has room for more.