I am trying to help evaluate the value of my friends minerals on this tract in Grayson County, Texas. She owns 0.002117 interest. Thanks!
If you will post the survey name, abstract number or more detail on the location of that interest someone might be able to help you.
After sending that earlier response I located the Payne-Terry Unit in the H. Symcox Survey, Abstract 1164. Attached below is a plat of the unit.
It looks like the original well drilled there in 2001 produced until 2014 but made only a few thousand barrels. Felderhoff Production recompleted that well in 2014, and as of December it was still reporting enough crude production to continue holding the leases. But over 7 years since it was recompleted it’s produced a total of only 11,000 barrels, which means the operator probably will never recovered what they spent on drilling it.
Nothing new has been drilled in that part of the county since 2015. There are a few wells a couple of miles south of the Payne-Terry unit that have made 200,000 to 400,000 barrels since 2015 and are still producing.
Maybe someone else will be able to give you an idea of the potential value of your friends interest, but if there are mineral buyers interested in that area, and the acreage you are talking about is currently under a lease that is held by production, I expect a purchase offer based on some multiple of the small annual royalty that has been received from that current well is probably the kind of number you would be looking at.