My family recently found out that we own Mineral rights in LaSalle county. The property we no longer own,but when property was sold in 1951,the family retained 50% of the Mineral rights. We know this because Patch Energy wanted to buy the rights from us. The property currantly has two wells on it producing 1500 barrels of crude daily. I know this by looking at the W2’s on file with the Texas Railroad Commission. In the process of hiring attorney to prove ownership and acquire monies in receivership and begin collecting royalties. These wells at the current rate of 50.00 per barral can produce 27,000,000 annually. They are horizontal wells accessing around 500 acres. The question is how are royalties determined when the wells are pooling severals tracts of land to have this production capability?
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