I have had an offer to sell surface only in Pecos County. BLK 11 SEC 65, A-560. I’m not sure if this would hurt me as far as leasing goes? Would I lose the right to lease? If anyone knows the cost of surface and or leasing offers in this area I would greatly appreciate any information. Thank you, Wendy
Wendy, if you reserve your minerals, in the sales deed, you will have separated the minerals from the surface. You could do that now as well, prior to the sale. Then you will have retained your right to lease and receive royalties, regardless of who owns the minerals. You should consult an attorney on this, and preserve the rights of ingress and egress so an oil and gas developer can get on the lands to drill and operate.
Thank you so much Donald for the info! I have no idea how much the land is worth in my area, some have told me $200 - $300 an acre??? I hope I will not make a bad decision.
Where in Pecos is the land located? I can look to see if there is production or leasing nearby?
It’s in BLK. 11 SEC. 65, A-560 H&GN R.R. I looked and there are many more wells than a while ago. If you can give me an idea of the value of surface I would be very grateful! We have 20 acres there. THANKS.
Selling surface in a county (where the hydrocarbon production usually FAR exceeds the surface value) is an exercise in gaining true intelligence about what a buyer will be using it for. Understanding this can have DRAMATIC difference in how one negotiates price.
Hello fjonesiv, I don’t understand how they would benefit if they only purchase the surface? They wouldn’t have the leasing opportunity would they? Or they couldn’t do anything without mineral rights could they? I’m not very educated in all this.
Do you own 100% of 20 surface acres or a fraction of the 20 surface acres or 20 net surface acres out of a larger tract? There has been little recent oil and gas activity in this area. Surface owner has owns caliche and below-surface water and lease rights for saltwater disposal wells, pipelines and other ROW, wind and solar. Do you know who the purchaser really is - adjacent surface owner or co-surface owner or oil company? Make sure that this is not mineral classified in which case the State owns the minerals and the surface owner controls leasing and receives royalties.
Hi TennisDaze, my two sisters and I own 100% of the surface and minerals. I believe this 20 acres is part of a larger tract. The company that sent a letter is Independence Recourses LLC. I have called but have not had a return call.
A word of causion from another uneducated land owner. We recieved good $ and will continue to recieve good $ for the next 20 years for pipelines put on our property, which is the surface rights. So tread with causion. The one offering may know more than you do about what is planned?
Thank you so much for the information Kizzy! I didn’t even think of that. It pays to be educated in all your business dealings. Did a company approach you about that? Thank you again, Wendy
Yes , the pipeline company did.
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