New to Mineral Rights


#1

I have just become the POA for my parents and although I knew they had mineral rights in Texas, that was all I knew. I now know that they have leased the land 5-6 times since 1975 for little to nothing. I am trying to learn the value of their land and the best way to negotiate leases. Here is the information I have: Northwest Quarter (NW/4) of Section 15, Block 25, Howard County, TX (164 acres more or less)

Any information on current activity in this area or the value of similar property leases would be greatly appreciated.


#2

Hello Deborah. Thanks for helping your parents. In Section 15 I see 1 plugged oil/gas well, 4 plugged oil wells, 2 abandoned permitted locations and 1 injection/disposal well and no producing wells. To the West about 1 1/4 mile are 2 permitted locations(39511 & 39600)39500 operator is Harmonia Petroleum. Location 39600 operator is High Peak Energy. Location 39600 was spud(began drilling) on May 04, 2018. No completion or production data found.

Further to the West and Southwest are several good producing horizontal wells and permitted locations…the operators in that area are Apache Corporation and Grenadier Energy Partners.

http://webapps2.rrc.state.tx.us/EWA/drillingPermitDetailAction.do?methodToCall=searchByUniversalDocNo&universalDocNo=491714001&rrcActionMan=H4sIAAAAAAAAAL1QwW7CMAz9GjhGSQodO_hQoe28DTQOFYfQWiVS2lROqjEpH4_baRIrO3PK8_PL87OTkhJ0UlKBWhJVRRWt7z4qqkt5hIn_wpPp-6AFt0WIJqKIFzGERVZsJCs0LPTry6FgmI2wJuuc7Zo3pNbG8D4gff_YitqzaAUtxrOv935rnGNiDYRxoG7vd2ioOjO1AXmXpgxTt6AmiN6QaT-NG3AKyRm0fsqeczkGYsMTNrYLBxtHM3b7Uys9q2_1s7HqcUcIv8vn0JsG6WbJfy-ijuVcN4YFlTQomTIGK5BpzW_OxP3vh9zzCv4dRT5hAgAA

GIS map of Howard County Section 15/Block 25/A-25 or Abstract 25 and surrounding area:

DOUBLE LEFT CLICK ON MAP TO ENLARGE

Your parents NW/4 is in RED.

Clint Liles

3toy@suddenlink.net


#3

Clint, Thank you for the information. I had located this map and am happy to know I was correct in my location of their property. The last lease my parents had in 2015 was with Harmonia. I believe they were given a dollar an acre. I have had several companies contact them with requests to offer. Any suggestions on how to proceed?


#4

Deborah, has this lease with Harmonia already expired? I’ll bet if it was leased now it would bring a lot more than $1 per acre. How many acres of minerals do they own? Your parents got took back in 2015.

Clint Liles

3toy@suddenlink.net


#5

The lease was originated in March 7, 2012 and extended for 2 years which expired 3-7-17 and was executed by Gary Lamb. The origins lease stated it contained 164 acres (whether it actually comprises more or less) whatever that means.


#6

Deborah I suggest you go to the Howard County General Discussion and post the question of what minerals are leasing for in the area of your parents minerals. Give the complete legal description…

Section 15/Block 25/A-25

And possibly someone will give you a ballpark figure of what they are leasing for in that area.

https://www.mineralrightsforum.com/t/howard-county-tx-general-discussion/28078

Clint Liles

3toy@suddenlink.net


#7

I moved the discussion over to Howard.


#8

Thanks Martha.

Clint


#9

Thank you Ms. Barnes