Have been trying to negotiate selling mineral rights (just one area) with oil companies. They low ball. Anyone have any suggestions on the best way to get highest price or other avenues to take ?
I would be interested in what you find out
Good luck
Get a good Landman or attorney who can negotiate for you. O&G companies always give you low ball offers to start, hoping you bite. A local Landman will also know the going price for the area, which is invaluable if you live out of the area. I pay mine a percentage of the sale or a set amount. Attorney I hire hourly to do the paperwork and escrow. Pays off!
My daughter introduced me to ChatGPT, it is an AI chat and I got some incredible advise about where to go to sell other than Gas & Oil companies. Ask anything. So great
What county are your minerals located in? Buyers typically hone in on specific locations. To get the best price, you’ll want to shop offers around. I can possibly help you find some reputable buyers if you let me know where you are selling.
201.6 acres of land J.Y. Aguilera Survey, A-2
(22.6) My share.
Freestone County Texas
Tract One 160.00 acres of land Tract Two 41.6 acres of land
There has been a lot of leasing activity in Freestone, particularly by Comstock. It’s still a fairly new play for mineral acquisition, so there are not many buyers yet. It may be worth holding onto the minerals for a while to see if more development happens. Comstock is having success with the wells they are drilling in that area, particularly in Leon County. Your offers are probably low since it’s still a speculative location.
Where do you find chat?
Just type ChatGPT it will bring it up. you can either join or just ask questions but it is good to join they save your questions. No cost. It’s pretty amazing.
Keep in mind that ChatGPT is not 100% accurate. It is ok to use for ideas. It is not advisable to rely on this your sole source of reference for financial or legal decisions. You need to take the time to do a full range of research and analysis.
At the top of the page, click on the magnifying glass and search “auctions” Also at the top of the page, click on “Directories” and choose “Mineral Services” from the drop down menu.
Thank you for the suggestions.
I have heard this also, but get so confused as I am trying to sell, but get different opinions from brokers and oil and gas companies. One oil guy is telling me to hold on with the same as this message I am replying to (on other NMA’s) but this particular one he says , is not being looked at much to drill, not like the others. He could have been like all the rest and asking to by all my rights, I felt he was very honest and knew the business. A broker that I am thinking of listing with told me just because you sign a lease does not mean they will ever drill? Back in 2007-2008 my sisters, and cousins and I were getting a lot of leases (2000.00 for a 3 year lease to drill was about average) (my parents never made much money), so we were thrilled. I think it was $22.000.00 that year we made of signing leases. Then 2008-2009 it all stopped. We never saw any oil or gas, and have no clue if they ever drilled. How do you even know that they do? So then 12 years later in 2023 we were got almost $40,000.00 in leases (not just the $2000.00) ? We were so excited thinking all the technology is new and were told Jerry Jones had invested millions in Texas for “Gas” production. Then in 2024 we got a lease for 16,000.00 for 3 years..amazing that they spend this kind of money and then may never drill. So if you are just an owner of NMA’s that were passed on how in the world do you know what is REALLY going on?
Drilling is all about geology and making money, so it can take time for new plays to develop. Operators send out brokers into areas they are thinking about developing. If something better comes along, they will switch focus and let leases expire while they drill elsewhere. You can follow what they do by getting familiar with the GIS state maps and knowing where your acreage is with respect to the wells and permits shown on the maps.
The Aguilera Survey is a “hot” leasing area. Comstock, Mitsui, and Aethon have leased more than 10,000 acres in it.
Oh wow thanks for letting me know
Where do you find the GIS maps?
Okay found the maps but no clue on what I should click on or what I am seeing. How do I find Aquilera ? I see the counties, Leon and Freestone,
Find State Oil & Gas GIS maps above under Directories.
I as well have land in Leon County and Freestone County. My family was part of the Mitsui lease 2 1/2 years ago. Many offers for my mineral rights have come in, well over 100. It’s known that more leasing is happening now. Be careful with your mineral rights Your land is in the middle of a big play that’s going on.