Hi Paige, I just realized I made a typo. Their offer was dropped from $450 to $225 acre. I am having my attorney review the offer. Not really sure why they dropped the offer to $225. The location for the area though is actually Terry County, not Lynn County.
Robert Tilden said:
Hi Paige. I was contacted by Coastal about 3 weeks ago and their original offer was $450, 3/2, with 22.5 percent, and then they dropped the offer to $400 with the 3/2 and 20 percent. I am having my attorney review the proposal.
Paige Johnston said:
Mary Lou, we had offers from Caffey Group in August 2011, but they were less than other offers we’d received, and they were staying firm on their offer, so they dropped out in September. At that time they were offering $300/acre Bonus, 20% Royalty, 3/2. I haven’t heard from them since then. They must have changed their strategy since then if they’re going head-to-head against Shell. We haven’t signed anything yet with Coastal (for Shell) because they’re still doing the title work.
Verrrrry interesting…thanks for the post!
To start the good stuff first: Seagraves, Texas, where I set tonight by the railroad tracks where 100 boxcars of frack sand (7 trucks per car load per week) building new sidings to hold more rail cars. Rumors of 100 to 180 bpd in west part of Terry. Lot of fracking not producing what they really want. Well at Meadow pump down to 14 boil, 50 to 60 water per day. My drive by in Lynn last Sunday showed raw oil had most all that they had permitted completed was flaring of gas and pumping. Haven’t found any info on production in Lynn yet. The hot spot in Terry is Section 30, Section 62, Section 55 where Nolen rigs are running or about to drill. Should be about two more rigs in the next few weeks. I will be in area two more weeks.
My family initially leased out mineral rights to two different companies in three different areas in Lynn and Dawson Counties about a year ago. Several months ago, I learned that SWEPI has apparently been assigned the larger leases through one of the original companies. In addition, I just discovered that we may own mineral rights to approximately 58 more acres as well that have not been leased out. I found old documents that noted this small parcel of land was leased out about 25 years ago to an oil company. I have no knowledge our family ever sold these rights. Last year, several companies approached us about the other rights but we have had no offers on the 58 acres.
Is there an easy way to determine if we still own these rights short of traveling to Lynn and Dawson Counties to research the records? Also, is it unusual that no one has approached us about this land since we were approached by several companies concerning the other mineral rights? Is it possible to contact companies to see if there is any interest in these rights if it is determined we still have ownership?
Since I live nowhere near Lynn and Dawson Counties, this forum has been great for updates on the activity out there.
Mary, many of us are in the same boat. Keep searching. If I can help email me at edubose18@gmail.com. I will be in Terry Lynn Courthouses this week and would take a peek at records if I had more info.
Mary Johnston said:
My family initially leased out mineral rights to two different companies in three different areas in Lynn and Dawson Counties about a year ago. Several months ago, I learned that SWEPI has apparently been assigned the larger leases through one of the original companies. In addition, I just discovered that we may own mineral rights to approximately 58 more acres as well that have not been leased out. I found old documents that noted this small parcel of land was leased out about 25 years ago to an oil company. I have no knowledge our family ever sold these rights. Last year, several companies approached us about the other rights but we have had no offers on the 58 acres.
Is there an easy way to determine if we still own these rights short of travelling to Lynn and Dawson Counties to research the records? Also, is it unusual that no one has approached us about this land since we were approached by several companies concerning the other mineral rights? Is it possible to contact companies to see if there is any interest in these rights if it is determined we still have ownership?
Since I live nowhere near Lynn and Dawson Counties, this forum has been great for updates on the activity out there.
We were approached last year about section 97 NE/4 in Terry County but it fell through. My wife is a great granddaughter to MB Sawyer, and we have some wells in Yoakum County. If I were to visit friends out there what would I look for at the courthouse to see if we have other sections in Lynn and Terry Counties. I am still learning and want to help out the family as much as possible.
There are probably experts on here who can tell you a quicker way, but as a novice last year, I did the following:
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You can research at the title companies if you have the exact description of the tracts - Survey Name, Block number and Section number, but there’s a fee for that. Any deeds, leases, probates, etc., that involved that property are shown, with the Volume and page number given for where they’re recorded at the County Clerk’s office. (Or at least it was that way in Lynn County.) You’d take note of any that involved your wife’s family.
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If you have the Vol. and pg. number, you can then look at the document at the county clerk’s office and have copies made (for a small fee per page). I made copies of all transactions involving my family, both when it was bought, any past mineral leases, any sales, etc., because often the mineral rights were kept even if the surface rights were sold.
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If you don’t have the specific book and pg., then there’s also an alphabetical listing, both one for who it was ‘from’, and who it was ‘to’. You could find the names involved, and it will show you the Vol. and pg. number to look at the document.
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I also researched any recent mineral leases on properties surrounding ours to get an idea of any surrounding activity.
It’s time-consuming and tedious, but a lot of fun to learn this aspect of family history! And maybe you’ll get lucky and find other mineral rights or royalties you didn’t know you had!
Good luck!
Mary, you can hire someone at a local title company to do the research for you, or they could probably tell you of someone you could hire to do it. IF you still own the rights, you can contact the oil companies who are leasing in the area and see if they’re interested. As in real estate, so much of it is location, location, location, but there are other factors at play, too, including the number of acres available.
Good luck!
mary Johnston said:
My family initially leased out mineral rights to two different companies in three different areas in Lynn and Dawson Counties about a year ago. Several months ago, I learned that SWEPI has apparently been assigned the larger leases through one of the original companies. In addition, I just discovered that we may own mineral rights to approximately 58 more acres as well that have not been leased out. I found old documents that noted this small parcel of land was leased out about 25 years ago to an oil company. I have no knowledge our family ever sold these rights. Last year, several companies approached us about the other rights but we have had no offers on the 58 acres.
Is there an easy way to determine if we still own these rights short of travelling to Lynn and Dawson Counties to research the records? Also, is it unusual that no one has approached us about this land since we were approached by several companies concerning the other mineral rights? Is it possible to contact companies to see if there is any interest in these rights if it is determined we still have ownership?
Since I live nowhere near Lynn and Dawson Counties, this forum has been great for updates on the activity out there.
Robert I was a friend of Toms Sawyer years back. Tell him if you see him to contact me through our other friend at the law school, a Texas Tech, he will know who I mean. To the rest of you, his name is really Tom Sawyer. There was other stuff in Terry that fell, I think it will come back soon. I am in Gaines County tonight, should make Lynn and Dawson next week. Will give some kind of report on all of this. It is taking me longer than I had thought it would. Talk to Tom, he once had quite a lot of knowledge of the Sawyers as I recall. I will try to find Tom and see what he is up to.
Robert A Mack said:
We were approached last year about Section 97 NE/4 in Terry County but it fell through. My wife is a great granddaughter to MB Sawyer, and we have some wells in Yoakum County. If I were to visit friends out there what would I look for at the courthouse to see if we have other sections in Lynn and Terry Counties? I am still learning and want to help out the family as much as possible.
I drove by the Shell location on May 27th. They had about 30 frac tanks on location, workover rig rigged down, and the wellhead treed up, so looks like they’re flowing back to see what they have.
Thanks, Steve - that’s encouraging! (I learned a lot looking up the terms you mentioned.)
That does sound encouraging. Thanks Steve! That’s the one on 380?
yes it is, also drove out east of Meadow and they have ran casing on the well just drilled there and also seen another location built.
Paige - I was wondering if there is any update or new information on what Shell is doing out in the Lynn/Dawson County area. I have mineral rights in both counties that Shell now holds the leases to. Raw Energy has a third lease. In addition, another company sent me an unsolicited letter 2 months ago about possibly buying some or all of my mineral rights out there. However, I never heard back from them and I thought this was odd.
There was a posting today from Steve Stroup on the Terry County Group that he’d driven by the Shell well on US 380 between Brownfield and Tahoka and it looked like it might have been a dry hole. I really hope that’s not true. (I haven’t been able to get any response from the RRC’s GIS Viewer all weekend, so can’t check to see if Shell has reported anything.) Shell has over 300,000 acres leased in Lynn County, so I hope that doesn’t discourage them from pursuing other tracts.
Lots of unsolicited letters to buy mineral rights have been reported, but my experience was that if I ignored them, they wouldn’t follow up.
I’ll be in Tahoka for Homecoming the week of Sept. 14, and will share any more that I learn.