Oil and Gas Lease Offer in Leon County, TX

Texas Mineral Rights Leon County, TX
1

I recently received an offer from William H. Underwood, CPL on behalf of Surprise Valley Resources for a mineral interest passed down from my father. Years ago, I remember hearing something related to this, but it is long since forgotten and I have NO idea where to begin my investigation regarding this matter. Frankly, the more I research the more complicated all this becomes! I have several pertinent questions, the answers to which, I hope can help me get started.

Question #1:

  1. The lease offer is for

    “102.00 acres of land, more or less, out of the Edward Davis survey, abstract 242, Leon County, Texas County and being more particularly described in that certain deed dated December 23, 1919, from JM Scott and JM Sharp to WR Halsey, ET Holloman, DA Sullivan, LT Gresham, et al, recorded in volume 53, page 56 of the deed records of Leon County, Texas.”

I have tried to locate this property using the Leon County online deed records but have been unable to access it. Should I try calling them or what is my next step in accessing the deed and location?

Question #2:

  1. My sister and I were the heirs of Billy Ford Witherspoon who owned a mineral interest passed down from his parents, Hezekiah and Mary, but my sister is now deceased. Do her rights now pass down to her daughter, who to my knowledge, has not received any correspondence relating to this?

Question #3:

SVR has offered the following: “$500 per net mineral acre, five-year primary term lease, with a two-year option to extend, and 1/5 (20%) royalty.”

I have attempted to compare this with offers on this site in Leon County, but as exact location is unknown, my results are limited. Can anyone with current experience/expertise in mineral rights leasing in Leon County, TX offer any advice?

Thanks in advance for your responses and suggestions.

2

Here is the relevant paragraph from that deed, indicating that the 102 acres is located about 6.5 miles south of Jewett:

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3

Here is a map view of the E Davis A-242 Survey. The 102 acres is located within the boxed area:

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4

Consult an attorney at this point.

5

Surprise Valley is a leasing agent for Comstock. They have one or more leases already for a 102-acre tract in that survey. It is likely that is the same tract as yours. Do you know the other mineral owners involved in that tract? If you do, you should check with them to see what lease terms they agreed to.

6

I have access to an O/G industry data service called Enverus. I was able to look up the existing leases for that tract. There are several lessors named Gresham and Streeter. I also saw that several were able to get 25% royalties. Bonus amount of $600 was also shown.