I have mineral property in this area. I have had an offer to lease or purchase. What does one do next?
Depends on the location of your acreage and the specifics of the offers. I own minerals in Reeves and am pretty in the know on what's going on throughout the county. Feel free to email me and we can discuss direct. XXXXXXXXXXX Terms Violation. Do not put email addresses in Posts. 1st warning.
Hi, Ann -
Brian is right, it depends upon the location of your interests and what is happening in your area.
I will add, however, that over the coming months and perhaps even years you will be receiving additional offers. Some will be legit, some not so much so.
You need to learn as much as you can about your situation and the industry before you make a decision. I advise that you do not agree to anything, not even verbally, and not sign anything for the time being.
Reeves County, Texas is one of the most active Counties for drilling in the Country and the Alpine High area has become one of it's biggest areas. Google "Alpine High - Apache" and you will be overwhelmed with information and maps.
The people making any offer(s) to you will not be going away anytime soon, so you don't have to worry about losing out on an opportunity by taking it in small steps. Besides, if you can hold off longer the offers will probably increase substantially.
First, please accept my invitation to become A Friend on The Forum. You can send me your legal description(s) and the terms of the offer you have received privately that way.
I will be happy to look up the area and review the offer you have received and get that information over to you.
You should also consider consulting an experienced Oil and Gas Attorney in anything like this. The costs are well worth the peace of mind. If you need the names of a few, there are plenty of people here on The Forum that will be happy to help with that.
Hope this helps -
Charles Emery Tooke III
Certified Professional Landman
Fort Worth, Texas
One thing is ask what they are going to do in addition to an offer. Did they do their due diligence? Are they willing to help with title issues? Have they provided you geology reports? Well data? Production reports? If they are above board they will also help you make a sound educated decision. Go with a company that is pretty transparent. Make sure they want the same thing you do. A smooth mutually beneficial transaction.