Offer for my mineral rights - is this offer low?

General Mineral Rights Discussion
1

Hi I have had an offer for my mineral rights, firstly for the 5.1 acres $40,000.

Then I was told the 10 acres is near the 5.1 acres and they will check the price.

I was asked if I own the mineral and surface rights.

Thoughts please. Texas 5.1 Lot Plan 2017.jpg (please click link)

2

Hello Mavis. WELCOME TO MINERAL RIGHTS FORUM. After checking the area I see that Centennial Resources has 2 approved permits next door to the West of Section 3. Centennial also has some very good Wolfcamp oil/gas wells in the surrounding area. I would probably guess that the folks that are wanting to buy your minerals are planning on at least tripling their money on what they have offered you for your minerals.

Link to approved permit for well 35736:

http://webapps2.rrc.state.tx.us/EWA/drillingPermitDetailAction.do?methodToCall=searchByUniversalDocNo&universalDocNo=490744100

GIS (Geographic Information System) Map of Reeves County Section 3/Block 52 Township 8S/Abstract 5824/T & P RY:

CLICK ON MAP TO ENLARGE

3

Hi Mr. Liles,

What happened to all the honest people? Honesty is the best policy, I guess these people have never heard that term. Once again Mr. Liles, thank you for all your help. Now what would be your suggestion for my next move? Wait for other offers or hire a landman or a lawyer? Or does the oil company send offers? I have absolutely no idea what to do.

Regards Mavis Palmer

4

Good Morning Mavis. You will be getting other offers for sure. There are some very good oil/gas wells in the area. If they were my minerals I would keep them, lease them and enjoy the royalty checks for years to come. In Reeves County there may be 3, 4 or 5 different formations with possible production. There may be producing wells in this area for the next 100 years. Pass the minerals on down to your kids or grandkids. With no more acreage than you have the cost of an oil and gas attorney or landman would eat most of your bonus monies but you would get a much better lease with some help. JUST MY OPINION.

Mr. Charles Emery Tooke/Ft. Worth is well qualified to help you get a good lease. He is a well-respected member of this great Forum. He is a Professional Independent Landman with 38 years of experience. His hourly fees would possibly be more in line for you.

Good luck with your minerals.

5

I would not sell.

6

Good Evening Clint, This is great advice. I will wait for other offers. Patience I have. I will contact Mr. Emery Tooke (thank you for the referral). I agree wholeheartedly with everything you’re saying. We have children and 4 grandchildren. It is better to pass it on, and Mr. Emery Tooke can help me with negotiations. I also agree his hourly fees would probably be more in line for me too.

Thank God for Common Sense and Honesty.

God Bless You.

You have a Nice Day too, tomorrow.

7

Why sell when you can lease and “guide the reins.”

Good luck,

Pat

8

Thank You Pat, I love this site, everyone is so helpful and you’re right, I will guide the reins… Thank you again.

9

Update: I received a call this morning telling me there is bad news. We do not own the mineral rights on our 2 parcels in Reeves County, Texas. Only the surface rights. When I replied then if anyone wants to drill they will need our permission to go on our land. Silence on the other end… then I was told that no one will drill there for years.

I have both Deeds and I called the county, they gave me the number to check on the mineral rights.

The person who called did have the list of people who owned the land before us.

If this is true, what do I do with the surface rights? HELP

10

Deeds convey and/or reserve minerals. Anything related to minerals would be stated in the deeds you hold.

A “what if” - Let’s say these people later contact you for anything surface-related, i.e., easements/right-of-ways. Personally speaking, I would hire Mr. Buddy Cotton (a Forum member) to represent me. There are many issues to negotiate when one is a surface owner and “up against Goliath,” ex., roads, reclamation, maintenance, access, restrictions and uses, abandonment, temporary impositions, how much you should get paid, liability, etc., etc.

You can still hold the reins here … if you have a “tight” Surface Agreement.

Surface Agreements can cover a lot of ground … no pun intended.

Good luck,

11

Hi Pat,

I am listening… I already contacted a Landman and sent him the paperwork by email. We talked for a long time and he was making me laugh. He is going to check everything out for me and see if he can help me.

You’re making me laugh too, got to keep a sense of humor.

Thanks for all the advice.

12

Hi Pat,

You know so much about this… my head is spinning, so it is a relief to have your input.

Thank you again.

I will keep you posted.

13

Sounds like you’re making tracks. He can run you title and confirm what you do own.

Keep one eye open.

Good luck.

14

It’s sad we have to double check everything. All these lies are wasting our time, when we could all be relaxing in the sun.

I’ll keep both eyes open and watch my back.

Your advice is great, thanks Pat I’ll keep you posted.