Need leasing information on Dimmit County, TX

RE:
Our family has been contacted about leasing our mineral/oil & gas rights for property owned in Dimmit County, TX. The paperwork was email to us with all the terms defined but we need more information regarding the fair market value, etc. for such leases in this area. Where do we go to find this information and some assurance that we are not taken advantage of due to lack of knowledge?

Ms. Moreland:

I own property in Dimmit County too and since I live in Alabama it is hard to discern what is going on in Texas. . I have received a couple of phone calls from petroleum landmen, but have not been offered a lease; however, a survey permit was sent to me last week. I am proceeding cautiously… This website has been helpful to me.

Ms. Moreland, I have heard recently of bonus rates in Dimmit county ranging from $500 to $2500 per acre, depending on its location, with a 1/4 royalty and a 3 year term. You might want to check with local landmen or attorneys in the area of Dimmit County for more current information.

It is difficult to know what to do when you do not live in a state nor are you familiar with their laws. I tried to look at every resource available and talk to folks from the area to get some feel from objective people. We have reached a tentative agreement with a company which we feel is fair. Thank you for responding. I do know how you feel.

Lynn McFarling Hicks said:

Ms. Moreland:

I own property in Dimmit County too and since I live in Alabama it is hard to discern what is going on in Texas. . I have received a couple of phone calls from petroleum landmen, but have not been offered a lease; however, a survey permit was sent to me last week. I am proceeding cautiously… This website has been helpful to me.

These terms are pretty much in line with what we heard from folks. So many variables from the percentage of royalty, proximity to the gas transmission lines, paved roads, etc. This blog has been a big help. Thank you for providing this information it was kind of you.

David B. McCall said:

Ms. Moreland, I have heard recently of bonus rates in Dimmit county ranging from $500 to $2500 per acre, depending on its location, with a 1/4 royalty and a 3 year term. You might want to check with local landmen or attorneys in the area of Dimmit County for more current information.

My family has 342 acres in the Cometa Area. Zavala Dimmit County line. We back up to the Perlitz Ranch. Most are getting $1500 and 24%.

Ready to sign so get with us.

Ms. Moreland, may I ask what your final agreement was, in terms of signing bonus and monthly fracional rate? I have mineral acreage that I am now in the process of negotiating as well. Thanks in advance,

kl

Debbie Moreland said:

It is difficult to know what to do when you do not live in a state nor are you familiar with their laws. I tried to look at every resource available and talk to folks from the area to get some feel from objective people. We have reached a tentative agreement with a company which we feel is fair. Thank you for responding. I do know how you feel.

Lynn McFarling Hicks said:
Ms. Moreland:

I own property in Dimmit County too and since I live in Alabama it is hard to discern what is going on in Texas. . I have received a couple of phone calls from petroleum landmen, but have not been offered a lease; however, a survey permit was sent to me last week. I am proceeding cautiously… This website has been helpful to me.

Mr. Wenzel, same question, please. May I ask what your final agreement was, in terms of signing bonus and monthly fracional rate? I have mineral acreage that I am now in the process of negotiating as well. Thanks in advance,

kl

Brian Wenzel said:

My family has 342 acres in the Cometa Area. Zavala Dimmit County line. We back up to the Perlitz Ranch. Most are getting
$1500 and 24%.

Ready to sign so get with us.

We went with a local attorney, John Petry. There were too many variables and got lots of information from lots of sources. After reviewing it all we felt that it was best to let the landmen work with him. He managed the contracts for several other family members and our terms seemed good but it was all of the other details that are made me seek his help. The average prices seemed to run around $1,200/ac - $1,250/ac with 24% - 25% royalty if that helps. Good luck.

Kenny Love said:

Ms. Moreland, may I ask what your final agreement was, in terms of signing bonus and monthly fracional rate? I have mineral acreage that I am now in the process of negotiating as well. Thanks in advance,

kl

Debbie Moreland said:
It is difficult to know what to do when you do not live in a state nor are you familiar with their laws. I tried to look at every resource available and talk to folks from the area to get some feel from objective people. We have reached a tentative agreement with a company which we feel is fair. Thank you for responding. I do know how you feel.

Lynn McFarling Hicks said:
Ms. Moreland:

I own property in Dimmit County too and since I live in Alabama it is hard to discern what is going on in Texas. . I have received a couple of phone calls from petroleum landmen, but have not been offered a lease; however, a survey permit was sent to me last week. I am proceeding cautiously… This website has been helpful to me.

Thanks so much…much appreciation.

kl

Debbie Moreland said:

We went with a local attorney, John Petry. There were too many variables and got lots of information from lots of sources. After reviewing it all we felt that it was best to let the landmen work with him. He managed the contracts for several other family members and our terms seemed good but it was all of the other details that are made me seek his help. The average prices seemed to run around $1,200/ac - $1,250/ac with 24% - 25% royalty if that helps. Good luck.

Kenny Love said:
Ms. Moreland, may I ask what your final agreement was, in terms of signing bonus and monthly fracional rate? I have mineral acreage that I am now in the process of negotiating as well. Thanks in advance,

kl

Debbie Moreland said:
It is difficult to know what to do when you do not live in a state nor are you familiar with their laws. I tried to look at every resource available and talk to folks from the area to get some feel from objective people. We have reached a tentative agreement with a company which we feel is fair. Thank you for responding. I do know how you feel.

Lynn McFarling Hicks said:
Ms. Moreland:

I own property in Dimmit County too and since I live in Alabama it is hard to discern what is going on in Texas. . I have received a couple of phone calls from petroleum landmen, but have not been offered a lease; however, a survey permit was sent to me last week. I am proceeding cautiously… This website has been helpful to me.

Kenny,

We have had offers form $500 to $1000 for 3 years. The last guy offered $1250 per acre bonus money and 20% royalities. The deal went into the crapper after they mailed a contract that wanted us to help pay for the set up of production.

We are still waiting on a company to lease the 342 Acres without the fun and games.

Thank you,

kl

Brian Wenzel said:

Kenny,

We have had offers form $500 to $1000 for 3 years. The last guy offered $1250 per acre bonus money and 20% royalities. The deal went into the crapper after they mailed a contract that wanted us to help pay for the set up of production.

We are still waiting on a company to lease the 342 Acres without the fun and games.

Ms. Moreland, Could you please tell me what the attorney chared for his services?

Debbie Moreland said:

We went with a local attorney, John Petry. There were too many variables and got lots of information from lots of sources. After reviewing it all we felt that it was best to let the landmen work with him. He managed the contracts for several other family members and our terms seemed good but it was all of the other details that are made me seek his help. The average prices seemed to run around $1,200/ac - $1,250/ac with 24% - 25% royalty if that helps. Good luck.

Kenny Love said:
Ms. Moreland, may I ask what your final agreement was, in terms of signing bonus and monthly fracional rate? I have mineral acreage that I am now in the process of negotiating as well. Thanks in advance,

kl

Debbie Moreland said:
It is difficult to know what to do when you do not live in a state nor are you familiar with their laws. I tried to look at every resource available and talk to folks from the area to get some feel from objective people. We have reached a tentative agreement with a company which we feel is fair. Thank you for responding. I do know how you feel.

Lynn McFarling Hicks said:
Ms. Moreland:

I own property in Dimmit County too and since I live in Alabama it is hard to discern what is going on in Texas. . I have received a couple of phone calls from petroleum landmen, but have not been offered a lease; however, a survey permit was sent to me last week. I am proceeding cautiously… This website has been helpful to me.

Hi Debbie, If you have not leased your property as if yet, I would welcome an opporunity to disuss with you further. Please do not hesitate to contact me. Jeanne Smith jsmith@qx3telecom.com

I appreciate you offering to do this. We did lease our rights to Cheasepeake a few months back. Any activity in the area other than surveying? Do you know a Joe Cantu? Worked with him a few years back.

Lucio J Cantu said:

These posts are a bit old but if any of the mineral owners would like a map of Eagle Ford with what some of the major oil companies have paid for land leases I will be happy to provide.

lucio-cantu@satx.rr.com


Do you mind sharing land bonus and % royalty info? DImmit county is pretty hot right now. Not sure on your specific area but I would imagine well activity to take place on your property soon. I don't know Joe. Cantu is a pretty common last name in the area. We take up several pages in the phone book.

Our property is located just outside of Catarina with paved road frontage and city water. We also have a pond on our property. We did lease the rights for 3 years. Currenlty running cattle on the property but might be interested if leasing for commercial.

Lucio J Cantu said:


Do you mind sharing land bonus and % royalty info? DImmit county is pretty hot right now. Not sure on your specific area but I would imagine well activity to take place on your property soon. I don't know Joe. Cantu is a pretty common last name in the area. We take up several pages in the phone book.

On a related note if there is commercial real estate potential on your property I would be interested in speaking with you if you are receptive to selling/leasing land (not minerals). As you may be aware there is quite a big demand for space for the oil related companies to set up shop, rv parks, housing, etc. Carrizo Springs is a good example in the area of this need.


Debbie Moreland said:

I appreciate you offering to do this. We did lease our rights to Cheasepeake a few months back. Any activity in the area other than surveying? Do you know a Joe Cantu? Worked with him a few years back.

Lucio J Cantu said:

These posts are a bit old but if any of the mineral owners would like a map of Eagle Ford with what some of the major oil companies have paid for land leases I will be happy to provide.

lucio-cantu@satx.rr.com

There could be some commercial potential depending on demand for space in the near area. In large part Carrizo Springs is taking off because of its stratigic location with amenities. Basically, its the largest town in the area where you can get groceries, gas, food, lodging, etc.

EDITED by ADMIN:

Please refer to our member guide,

http://www.mineralrightsforum.com/page/member-guide