Oil & gas discussion group for those interested in Crane County, TX. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
Chris, you posted earlier on a thread about having mineral acres in Crane. Where is your interest located?
Dear Joe,
These descriptions are less than desirable, but if you an old Landman, then you will know who to read them.
303 acres PE#47 SUR 8 CT-MC AB978, CERT 386
452 acres PE#12 SUR 10 AB 1038 CERT 1194
1280 acres Sections 2 &3 Block 22 PSL
Sincerely,
Chris Wilson
I own property in Crane County Texas. Does anyone have any information on the possibility of how to go about leasing my property to an oil and gas company?
Dear Joe,
The Descriptions of the property that I have in Crane County are below. I do not know where exactly the land is, but the 2 sections used to be located in the Middle of the Henderson Ranch, just on the Edge of Odessa and Crane County. I have heard that that ranch has been sold and broken into pieces now, so hopefully we can get to out land. I have also heard mention that the 303 acres are near the Old Jax.
Thanks for asking,
Chris
Charles,
Where is your property? Do you have a legal description? How much do you own? etc. That's a good way to start.
I'm interested to find out if anyone knows what minerals are being leased for in Sec.1 & 10 Blk. B-20 and Sec. 30 Blk. B-18 of Crane County, Texas?
We are interested in Crane County-Sec.1 and 10 Blk.B-20 and Sec. 30 Blk. B-18 and what the minerals in this area are being leased for?
Dear Sally, I have tried for years to market Family owned minerals to Energy and Production companies held in trust with USTrust, because they would not. But have come to understand you just have to wait for the Companies to find you. We have been contacted for the land listed below by some here and other landsmen working that particular area. While the bonus leasing money is higher in some areas than others, You really want the most percentage you can get from the oil from the hole. We mostly have been given 25% net from the hole, do not try to lease your land without a Oil and Gas Attorney, because you will LOSE. We have the expertise of U.S. Trust working for us, as my Grand Dad set it up before he past away. His children he told them his mantra, you do not sell the minerals, and they follow his mantra, and because of that we the Grand Children have a nice income from these leases started back in 1913. So take my Grand Fathers advice, be thankful for what you were given, be patient and hire a good Oil and Gas attorney to protect your best interests. Continued success to all.
Thank You Chris for your input.
Chris, Glad to hear US Trust has worked out for your family. If you were doing it again today, there are lower cost options rather than paying trust department fees. Family LP’s are a good option. The trick is to find the expertise to advise whoever is running the LP. You always have to look out for accountants, landmen, or attorneys who over charge or don’t know what they are doing, but there are enough good and honest ones out there that, in my opinion, Family LP’s are superior to bank trust departments. In my experience, a bank trust department just does not have the same incentive to negotiate hard or be vigilant in administering assets that the owners of the minerals have.
Of course, one of the main reasons trust departments are used is because the family does not get along or the patriarch does not trust the upcoming generation to manage it properly. These are good reasons to use them, although there are still lower cost structures.
Chris gives good advice, although I don’t like using trust departments, for the reasons given above.
Is anyone following increased leasing offers in Crane that looks related to the Texas Cline? Getting calls lately.
Dear Wade, Nice to know there are other ways other than Giant Trust departments. When my Grand Father picked First National way back then till my Mother died, Trusts departments were a service oriented organization. Only after my Mom died did they become a Giant Profit center, that no longer cared about the heirs, just the fees they could generate, and the money they could legally steal to use to invest in there own properties, without any checks and balances, while paying about a 1% return on $500,000 a year even in the good years that is what they, the specialists that should know how to make money, pay the heirs. I know trusts were originally designed to pass large estates through to heirs without paying taxes. In my opinion they are a JOKE today. When I was a teen we have a trust officer for most of our lives that took care of my mom and saw to her needs, now we get a new trust officer each year, they blow smoke, make changes, usually that backfire on them, then the new one that replaces them, asks us why so and so did this. We aren’t told what was done in the first place, so we do not know why. I knew about the trust, because my mother kept me in the loop, but the bank never communicated with my cousins that lived out of town, till their parents death. So it’s good for others to know that big banks are not the only way to go.
Chris, Sorry to hear about your experience. There are claims pending here against one big bank where it is alleged they leased 100,000 acres in the Eagle Ford for a trust for a fraction of what they are worth, because Big Bank needed the fees. If you can find evidence of mismanagement, it may give you enough leverage in a suit to get the trust terminated, and get these assets into a privately run family partnership, or a lower cost trustee.
Just rec'd offer for our 1/2 MC minerals in Sec. 8, Blk 1, Crane Co. Can anyone give me a current going rate for lease bonus in S/Crane Co.?
Offers are ranging from $150/net min acre to $750. Be careful to find out who is interested in drilling. Devon and other big guys are buying up leases and you need to make sure your attorney reviews lease language to protect you.
Joann: thanks for info. We asked what company the broker is leasing for. Will proceed with caution.
Sheila, I tried to email you, but would not go through, why don’t you just call me 817.800.4234 or send me your email to chrisgotcha at gmail dot com, and I will send you the details of our lands for lease in Crane county. Approx. 2000 acres.
Hi all, I'm a new member to this site. I have read the comments from other members and I can see that I need some education on the Mineral Lease questions. I have a mineral rights in Crane County that was left to me by my father sometime ago. In 2008 I gave a 3yr. lease to Burk Royalty Co. I have been looking at Google Maps and USGS Maps in a effort to see if anything is going on with the land but I can not seem to find it. The description I have is Section 1: All, Block 6, H & TC Ry. Co. Survey, Dawson Field Prospect, Containing 640.00 gross acres. Can anyone tell me what online site I can go to and how to find the land at that site. Sandra Launstein
See this article for websites. http://www.mineralrightsforum.com/profiles/blogs/internet-resources-for-mineral-owners There is also a video on the Home page which shows you how to check the RRC website.