I have been approached by a company looking to purchase my family’s 0.007 overriding royalty interest in the below two leases in Panola County:
List item Any and all rights to oil and gas produced from the M. R. Tiller Gas Unit located in the Daniel Tuttle Survey, A-668, Panola County, Texas. (I believe this is around 530 acres)
List item Reilly-Tiller Gas Unit, Property Description = Containing 484.443 acres, more of less, being a part of the Daniel Tuttle Survey, A-662 and A-668, Panola County, Texas.
Spoke with someone in my office building that has bought mineral rights for the past 50 years and he looked up wells around the area and found some big operators and new wells drilled in late 2018 that are producing around 500,000 MCF per month.
The offer is for substantially more money than we have historically been offered, and about 190 months worth of our royalty payments over the past 1-2 years average…
Seems they must be fishing OR they know of something about to go on out there…
Just curious if anyone has any thoughts or informatoin, thank you all.