I just sent you an email asking the difference between a mineral acre and a NET mineral? Got to thinking that maybe some others might need to know that too, so will ask you here too… Sammye
Sammye Moore Hughlett said:
I just sent you an email asking the difference between a mineral acre and a NET mineral? Got to thinking that maybe some others might need to know that too, so will ask you here too..
Sammye
Great information, Thank you for sharing this with us.
Lance White said:
Hello Gentlemen:
Been reading with great interest the posts on this forum. My wife and her family have mineral interest somewhere in Anderson County (not sure where exactly) of approximately 7-9 different parcels covering some 2600 acres, give or take.
Recently they were approached by a company with a proposal offering $250/acre and 1/4 royalty. This was the initial offer, which I was a little surprised by.
Any ideas where in Anderson County they would be offering these kind of terms?
I am currently trying to purchase a good map that will help me identify and locate the various tracts linked to our mineral interests.
If anybody has any suggestions where such a map can be purchased, I'd appreciate knowing.
I really need to get better aquainted with these properties for obvious reasons. Been neglectful in the past.
Thanks for all the comments. Been very educational to say the least!
regards,
Kelly
Most of these high dollar leases are in the Frankston and Brushy Creek areas in the northern part of Anderson Co. You can contact the Anderson Co tax and appraisal district office and get copies of maps but you should try to find out what survey your interest is in. Search old deeds and other records for this info. You can buy survey maps from the General Land Office in Austin , 1-800-998-4456 for $15 a copy but Anderson Co requires two maps, one for the east and one for the west. But the best way to get this info is to visit the County Clerk's office in Palestine if it is convenient. If you find your survey, let me know and I can make a copy from my maps and mail it to you. [email protected]
Charlie....you still out there? :) I have not checked the board in quite a while. I just sent an email to John C. to ask him the same question. We just received an inquiry from a San Saba Royalty about 40 acres that we have in the Cantrell Survey. Do you know anything about them? Please fell free to email me anytime directly at my email [email protected]
Hi Jerry,
I'm still around, but haven't had much to say in a while. We finally agreed to the lease terms back in April and lately it's been mainly a matter of just following the drilling activity in the area including the Cowan 1H well in Smith Co. and the Jamex Herrington well now drilling near Brushy Creek. Haven't heard of San Saba Royalty. If they have been active in the area, John Cundieff, Clint Liles or Alan Herrington would be the most likely to know.
Jerry White said:
Charlie....you still out there? :) I have not checked the board in quite a while. I just sent an email to John C. to ask him the same question. We just received an inquiry from a San Saba Royalty about 40 acres that we have in the Cantrell Survey. Do you know anything about them? Please fell free to email me anytime directly at my email [email protected]
Hello Jerry,
Beware.
http://en.allexperts.com/q/Oil-Gas-3147/2012/10/selling-mineral-rig...
Clint Liles
Thank you very much Clint. I really do appreciate your input.
Jerry
Jerry - What abstract number is the Cantrell Survey?
Was San Saba inquiring as to buy a lease from you or to buy your minerals outright? They are from what I understand a group that buys/accumulates mineral rights in however big pieces they can in areas in which they are interested. I know they already own some minerals across Anderson County - my guess is they have seen enough leasing interest in their own minerals in the area to prompt them to try and buy more interests that have yet to be leased but that they think will soon be leased based on activity to date. They also DBA Olympia Minerals. Also, (warning: unsolicited advice alert) a good rule of thumb is to never sell your minerals. Leasing them is great because you still own them and will make money on oil found on your lease, but there is generally no upside to selling them outright.
Jack...I believe that it is A - 212.
My brother has been contacted..not me, and I believe that they are trying to buy his mineral rights. I have told him basically what you mentioned; that is, don't sell....lease.
Thank you for your input
Jerry
Any news on the Herrington 1H well north of Brushy Creek? I was home for Thanksgiving and again at Christmas and activity at the site seemed to be building.
-Dan LaRoe
Dan, welcome to our forum. We own land and minerals about 8 miles SE of the Herrington well so we are hoping for a good well to come in. We leased in Nov. 2011 to Graem Resources and they are probably the largest leasing agent in Anderson Co. but I know of least 20 other companies that are leasing as well. EOG seems to be the largest exploration and producing operator in the area and I have heard they may have as many as 50,000 acres leased up. Where is your interest located and who has contacted you? Let me know what survey your interest is in as I like to track the trends. As I hear news, I'll try to separate the truth from the gossip and send it on to you. Good luck, John
John, thanks for the response. Our place is about 3 miles west of Brushy Creek. We have not had any serious contacts. We have land in the D. G. Harding and A. D. Lattin surveys.
-Dan
Dan I have a large survey map of Anderson Co. and the Isaac Lindsey survey joins the NW corner of your Lattin survey and there was a 15,000 ft. gas well drilled on it in recent years and just west of you in two different Anderson Co School surveys there has been some activity, some wet and some dry.
A local says the Herrington 1H, north of Brushy Creek, made a well and the rig has moved.
-Dan LaRoe
Made as in it is a good well that is producing or just that they drilled?
All I know is - It was not declared a dry hole.
-Dan
Believe some locals were going to drive out there today, hope we get an update soon. I have leased some acreage about 2 miles NE of this well to the same operator.
John, I have a cousin who has not signed a lease with Leasehold Interests, L.L.C. being represented by RWT Land Services, L.L.C. for a 3 Yr lease with 2 Yr Option for $175/acre and 3/16th royalty in the James Hall Survey, A-29 (185.6 acres). In the cover letter, they state, "Lessee hereby reserves the right to rescind this offer if the executed lease is not returned to our office within 30 days after the date of this letter. At Lessee's option, any executed lease received after the 30 days will be returned to Lessor and all terms, including bonus payments, will be void."
Also, which "State Agency" would the money go to?
Thanks for all of your help on this forum!
john cundieff said:
If one member doesn't sign it does not affect the contract of the others. Should production occur on the property, the royalties produced on the unleased portion are held in an account with a state agency for a peroid of time and the person who did not sign the lease must act in this time by paying their share of the cost of the drilling expence to get their share. This is determined by their" fraction "which is the percent of their mineral acreage divided by the number of acres in the well unit multiplied by their their royalty percentage, and if they do not participate, the royalty money is then deposited in a state fund.