I have inherited mineral rights in Dawson county Texas, specifically block 36 sections 16 and 9. A broker is offering 1/5 royalty and $200 NMA 3+3 years. I believe that 1/4 is more customary and I am trying to find the current $NMA in my area of the county. I have seen $200 to $3000 in Dawson co. Any advantages/disadvantages with a Broker.
Several brokers are working the area. Brokers are common. Most of the leases that are posted with info have 25%. if you are in Block 36 4N, section 16. 5N may be a different story. I will not do an extension. If you are new to the industry, it is wise to get an attorney to review any draft lease as they are rarely in the mineral owner’s favor.
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M_Barnes is correct. Our answer is different depending on whether you are in T5N or T4N. T4N appears to be actively developed by SM Energy. Also, I would use an Oil & Gas Attorney, not just a general practice attorney.
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I am T5N, sorry about the omission. And thank you for the reply and I will consult with an attorney, the lawyer that handled this with my decedents has also passed unfortunately. There are active wells on both east and west sections to ours by New Heights energy. My emails to them go unanswered. Whereas we retained 100% of the minerals when the surface was sold 5 years ago, what obligations do we have with the surface owner beyond what was spelled out in the sale contract.