Upton County, TX oil & gas discussion group. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.”
I have been approached by veritas to lease my mineral rights in Upton County Anything good or bad about them and what should I expect to negotiate for bonus and royalty?
Veritas is a land broker. They are leasing for someone else.
Bonus and royalty will depend on where in Upton County you are.
Thank you,
I’m in abstract 64 but live out of state so I don’t have access to local county records. Is it possible to research bonus and Royalty’s in the area so I have a foundation for negotiating?
There's already quite a bit of production on that tract. EOG, XTO and Chevron appear to have the section leased. Is your interest depth severed? If so, your bonus money can go down some since you don't have all depths. As to a royalty, ask for 1/4th. Ask who Veritas is leasing for. Know thy operator.
Morning tom,
The initial copy of the lease draft I wanted to review does not indicate any limit of mineral rights ownership or depth limitations. The one thing that did stand out for me was this three part decrease in acreage. As if to say of this larger tract and of this smaller track you own this portion. If I am heir of the mineral rights would I be wrong in saying that covers all depths? The producer is not one of the ones you mentioned. Would this give me leverage during negotiations on the bonus? Would this be counterproductive and should I communicate with one of the existing providers? What should be my professional next step.
Tom,
Towing a fully apologize as it is abstract 164 not 64. My error caused you to research information for me that was not relavent due to my error and I apologize.
“Owing you a” voice recognition error.
Most of the established fields are north and west of your property. But, you might be able to get $500/acre. What was the initial offer?
I can see why the acreage is divided. The railroad tracks go through the southeast corner, leaving a sliver of land on it's own. Also, you are right outside of Rankin. It could be divided into plots.
Yeah I noticed that on the texas railroad commission website ( producing wells north and west of me). Inital offer was 250 plus 1/4. My other concern was time line since there are no active wells there directly, getting a rig and pipeline in and producing royalties.
I'm in need of someone who can do a tile search in Upton and Crane counties to follow up on a lease my familiy had back in 1993 where we did a letter agreement with Nearburg Exporation to do Seismic testing and then they drilled a dry hole.
SURVEY 3, ABSTRACT 229, GC & SF RY. CO . SURVEY
UPTON COUNTY, TEXAS; AND BEING THE SAME TRACT AS
SURVEY 3, ABSTRACT 750, GC
& SF RY. CO. SURVEY,
CRANE COUNTY, TEXAS
If anyone has a name and contact information for me I would a prreciate the help.
This is in response to Mike Hickman's post on 6/14.
My son can do your title search in Upton and Crane counties if you are still interested. He is in Lubbock today.
Contact me at 719-440-7700 or kddieterich@gmail.com.
Dirk Dieterich
Hello. I'm relatively new here and not sure where to post my question so if this is wrong, someone pls let me know.
I'm trying to get as much info as I can about oil royalties. My mother-in-law passed away a while back and left her royalties to my husband. All we have as an Amended Division Order that is now in my husbands name and a Quick Claim Deed that was set up so everything went to him when she passed. We have no lease and are currently being paid by Pioneer but they've said that they are leasing through Exxon and our lease is with them, though I have no info on that at all. We have very little info and aren't sure if we have any options to renegotiate any percentages, etc. If anyone can share some (any!) info or point us in the right direction, we'd sincerely appreciate it. I've been trying to read through posts on here hoping to educate myself but alas, I've only gotten more confused. LOL
Thanks!!
Dani
Dani, This article may help get you started. http://www.mineralrightsforum.com/profiles/blogs/i-may-own-minerals-so-now-what
Thank you for the info, Wade. I appreciate it. I’ve read though that and it helped a bit but there is still so much we don’t know. We have a current lease but we don’t have a copy of it and we were told they (Pioneer) can’t give us one because the actual lease is with Exxon so they’d have it, even though our checks -and division order, come from Pioneer… Next step, I would guess, is to get in touch with Exxon to see if they’ll give us a copy? We also only have a quick claim deed that lists all land we have mineral rights on but I’ve tried looking up info online and none of the info needed (well names, numbers, field, etc) is listed. I was thinking we should also contact the local county courthouse, see what they may have on file in our family’s name? Any advice would be fantastic…Thx!
Dani-
Yes, see if Exxon will give you a copy of the lease. Next step would be to see if it is recorded at the courthouse, but many companies only record memorandums of lease, not the actual lease.
If you have legal descriptions from the quitclaim deed, look at the Video on the Home page of this site on how to check the RRC website for info on activity on or near your minerals.
I’ll look into that. Thx!
Another question, is it possible to look up a well’s production just from a well’s name and number? That’s all I have for one of our wells, no legal description…
My uncle has minerals near McCamey. Is there any leasing in the area? If so, who is active and what is a reasonable bonus? He says he has been contacted, but has nothing in writing. He can’t remember who contacted him. Thanks Dj
Hello just curios if anyone has any information on the area of section 41 block 40 T5S TP&RR. And to say thank you to Clint for all you do for everyone that visits mineral rights forum.