I have been researching and having conversations about mineral property I own in the subject line description. My next move, it seems, may be to hire someone to complete abstract/s on these properties. This way when I do receive more offers, I will be in stronger position to negotiate. Also, I have been told that a trip to see and have feet on the ground there will be in my best interest. Anyone have something to offer on these points?
We're in the same position, but in Culberson County, Delaware Basin - Wolfcamp (we think). I'm trying to find someone to appraise our interests, but having a difficult time. Heck, we're just trying to figure out how many net mineral acres we actually have.
If you have any luck, please let me know!
Good luck!
Go to the "Groups" section and select Reeves County, then on the Comment Wall post your question along with as much detail as you can about the specific location of your mineral interest...survey name and abstract number if you have it. Think you'll find folks there who can give you worthwhile suggestions.
Hi Ann! Hi Traveler!
The Davis Mountains are beautiful, but most of what you would find in Reeves and Culberson Counties would be rocky desert with little vegetation.
If you will send me your legal descriptions I will be happy to zoom in on Google Earth and send you pictures of your land. Most of what you will see is just scrub brush and rocks.
Title Abstracts or Title Runsheets can be really expensive to have put together. That's what Landmen do and we ain't cheap.
The most cost effective way that I have ever seen for an individual Land or Mineral Owner to obtain Title Abstracts or Runsheets is to add a provision to their leases that requires the company to provide them any that they prepare or obtain. That would be thousands of dollars worth of information for free.
Hope this helps -
Charles Emery Tooke III
Certified Professional Landman
Fort Worth, Texas
Charles,
Thanks for the information.
Is a Title Abstract or Title Runsheet getting the information about the deed from the county seat, or is that an actual assessment of the O&G potential of the property? Sorry for being so dense.
Unfortunately, the boat has sailed on the lease. We signed one of those a few years back.
I have been on Google Maps. I can see two lovely wells on my properties. ;-)
Thanks!
Traveler
An Abstract or Runsheet is a chronological history of all of the documents in your chain of title, from Sovereignty (Spanish Land Grant, Mexican Land Grant or Texas Patent) to the present. Landmen prepare them by researching the County Clerk's Records and the County and District Court Clerk's Records, typing up the Runsheet and typically preparing copies of all of the documents to turn in to an Attorney who reviews the whole thing and prepares a Title Opinion setting out who owns the Surface, Minerals, Royalties and Oil and Gas Leases.
If you have Wells on your property you should have received or will be receiving a Royalty Division Order setting out your decimal interest in the Wells. Once you sign and return it, they will begin sending you your royalties.
If you want to know about the Wells, send me your legal description(s) and I will be happy to look them up for you.
If you want to send it privately, accept my invitation to become A Friend on The Forum and you can sent it that way.
Culberson County from printed Runsheets Sovereignty to date? Wow! What Abstract Company?
Charles,
Although I can't put my hands on the Division Order paperwork (unless it was folded into the lease document), we do know the decimal interest of both properties. I just don't know what those decimal interests translate into regarding Net Mineral Rights, which seems to be important.
We have been getting royalties for 2 - 3 years now, along with the payments for infrastructure development of the area before that.
Looking at the property tax records from the online Culberson Co site, it looks like there were only two previous owners for both properties.
I appreciate your assistance. I'll accept your invitation.
Traveler
Thanks! That beats the heck out of the drive from Fort Worth.