It’s just frustrating to be getting “mixed” messages from the oil and gas people, brokers who say they can list if you want to sell, and people on this forum. I am needing money quickly as I am a widow and cannot afford to rent any more, and hoping to use the money to buy something, and I am also 70. I have 3 adult children and 12 grandchildren and these leases are all I have to leave them. I just wish I knew for sure what was happening with the drilling. It is a very tough decision for me to give this up, but a dilemma in not knowing for sure. I am told to look at maps which I have no clue how to use to find out if drilling is even going on. These NMA’s have been leased more than once and never any production. Mind boggling for sure.
This is always a tough process. First Rule of Selling - If people are contacting you to buy your property, then it is worth more than they are offering. Trying to assess the future potential of a property is very difficult even for a professional. If they fully develop the property in the near future, you are most likely better off to keep the property. Just because a company drill 1 or 2 well does not mean the will continue with development. Best advice is to get a professional involved whom you pay a fee for the assessment, not a commission. So many mistakes are made by people that do not perform research and do not want to pay for solid advice. Patience is in your favor. Good luck.
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That makes sense. If you really need the cash, then it may make sense to sell for you. There is a lot of development activity in the area, but keep in mind that that area is very large. Comstock, one of the largest players in the Western Haynesville (where your acreage is located), is only planning to drill 20 wells there in 2025. There is no guarantee your acreage will get developed any time soon. If you need cash now, you may want to entertain the market for the highest offer. Feel free to let us know what you find out.
Use the County link on the upper left and pick your county. Then use the magnifying glass to go to Surveys. Put in your abstract number, block and section. Be sure and spell the abstract correctly. I typed in A-2. You may be in a smaller section of the larger abstract. if you zoom in, you can see the current wells in the area. https://gis.rrc.texas.gov/GISViewer/
Thank you for taking the time to do that. I am still unsure of what the map is saying. Is the whole turquoise area just the Aguilera area and what are the squiggly blue lines for?
The blue area is the whole Abstract for Aguilera Survey. It is subdivided into smaller sections. You may have a more specific location listed in a deed or probate documents with the section number listed. Since we are so many generations away from the original patent grant at statehood, most folks only have a small amount of acreage in a specific section.
I am looking into selling NMA’s (about 11) that have no leases for several years, many have not been leased for quite a while. Leon County, Freestone, and one in Anderson (but not sure it’s on a farm so would need to discuss with relative.
I have worked with many people trying to sell this type of package. You are trying to sell something that has not been leased in several years to a likely market that will be professional mineral buyers. The no leasing during a very active period indicates a low value for future development. You should prepare yourself for limited and low value responses. Pros look for returns on their investments and subject the analysis to strict parameters.
I still have properties in my portfolio that I purchased 40 years ago that have no development. If you receive low offers, you may want to consider retaining the properties for their limited speculative value. Good luck in your efforts.
Find done hot property or properties in your portfolio (I have interests in the same area), and tell buyers they can get the hot stuff if they buy your other stuff that’s not so valuable.
Thank you for the suggestions.
We are also trying to sell in Bastrop county 677 acres
@Twinee On a practical basis with your proposal the Seller receives the same price for the “pasture” properties and sells the more valuable properties as an inducement. I can tell you as a buyer, I have people make the same proposals to me. My response is generally the same. Unless they have to sell the properties for very little value or for some other purpose, they are better off holding them for the speculative value.
Why don’t you discuss it with your children. If you are intent on selling give them the first chance to meet or beat the best written offer you got. Most of the buyers don’t have the money to start with and can’t close the deal most likely.