Thanks Brenda. Great info.
Hi Brenda we are in the Toyah Valley Grape and Alfalfa subdivision H & GN Ry. Co. Survey
The same amount for a lease extension in Section 265 Blk 13 for my cousins' small holding of 20 acres.12k nma.
The area is scheduled for drilling.
I have small acreage in the general area, but haven't gotten more than an offer of $850/nma from Apache. Who is offering the larger bonuses in this area? all over the map? or a few companies?
I just found out that I own mineral rights to Section 270, Block 13, H&GN Survey; lots 1 & 2 of block 8 of the Toyah Valley Grape and Alfalfa Company Subdivision of the N/2 of Section 270, Block 13, H&GN Railroad Company Survey, is accordance with a map or plat of said Subdivision recorded is Volume 25, Page 423 of the Deed Records of Reeves County Texas, containing 10.00 acres, more or less. Can someone explains what this means to me. My letter says that I’m the owner of an undivided 0.833334 net mineral acres under the above-described land.
If someone can explain what this means to me, I would really appreciate it. I’m 59 living in Florida & know nothing about this sort of thing.
Your acreage is in the “sweet spot”. Make no quick decisions and seek counseling.
do you know what 10 acres “undivided 0.833334 net mineral acres” means? is it less than an acre, more??
and thank you for the feedback very much appreciated.
My cousins inherited mineral rights in Section 265, of the Toyah Valley etc, the last lease signing bonus was12,000 per nominal mineral acre, with 25% royalty on production once production starts.
This spot, because of the number of layers of petroleum deposition of shale bound oil, natural gas, and petroleum liquids, somewhere around five to seven or maybe more layers, has the potential to produce, over the period of the oil field’s production life of some 40 years, a barrel of oil per square foot of surface area. This means, that for practical purposes, you own a small piece of valuable mineral rights which should get you a few thousand dollars for a lease bonus, and once production starts, a few hundred dollars a year for royalty payments. Right now, oil companies are swapping and buying the signed leased acreage amongst themselves, in the range of 25, 000 to 40,000 dollars and even more. Now what this translate to those of us who have small holdings is to be yet seen.
But roughly, 80% of 12,000 per acre is $9600,oo Take your time and study. Turn it into a hobby. have fun. It is a good turn to the history of land swindle of the Methodist University and Methodists at the turn of the beginning of the 20th century before The Great War, the First World War.
thank you for the information
Can anyone tell me if there have been any applications to drill yet in Sections 270 & 271 block 13 H & GN RY County survey? Signed a two year extension lease early last year with Rosetta/Noble.
All I know is I’m getting great royalties from Anadarko and Centennial. Signed a 2 year extension with Double Eagle last October 2018.
I got the same offer 2 years ago in 271 block 13 , but 5000 pnma.
That’s about right for 2 years ago. They started offering $12K last fall. Heard from relatives Noble was offering $20K now. I think if they drill on your property, you don’t get any more bonuses. Unless they shut down the well.
My big question ? will they drill on my property. I look at almost all the sections around me and they all have some kind of action happening. I guess it is, just a wait and see. Carl
You will probably see drilling. If it’s all around you, the chances are very high that you will get activity. Like you said, when??
Hi Brenda. I have 25 NMA in 266/265 Blk 13 leased with Noble, expiring July 2019. Where are your relatives’ minerals located? Is the $20K for lease or purchase?
Depends on the language in your lease Brenda if they lease or not. Language in my leases release all acreage not included in any one well. This way I can re-lease the other acreage in the property. Make sure you have this added to your lease if you don’t already have it.
We received 10k an acre for section 271 Carl.
I guess next time I’ll hold out for more… lets hope they start drilling there soon