Oil & gas discussion group for those interested in Grayson County, Texas. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
I joined on June 16, 2011.
Does anyone know about Jetta Oil in Ft Worth? They are drilling on my minerals in Southmayd TX. I am new to this and just wanted any info. Thanks
How can we go about finding out what mineral rights are leasing for in Grayson County? I don’t know the exact location of our mineral rights, but do have a legal description.
Just received a Memorandum of Oil, Gas and Mineral Lease, along with paid up oil, gas & mineral lease from a company called Jetta. My late father had an 8th of an acre split between his 3 kids. So, apparently I own .0416666 net mineral acres, of 189.198 gross acres. Jetta is offering me a 3/16 royalty. Can someone explain to me what this all means? I live in California and never knew my father had any mineral rights out in Texas. Is there a way to find out what other mineral rights might be out there floating around in his name? Thanks!
There are some articles on the Home page that may be of help, especially the one on Internet Resources.
New to the forum looking for guidance. I am a non-resident (reside in Illinois) owner of 1.7 mineral acres (Jonathan Morris Survey) in Grayson County. I have been approached by a principal or agent offering a $150/acre upfront bonus and a 3/16 royalty for a 3/2 option year lease. Is this a reasonable offer? Any thoughts appreciated.
Frank, depending on where they are located in Grayson County, with you having such a small acreage, I would not take less than 1/5 and $175.00 per acre. I leased some for zero bonus and took a 1/4 interest in Grayson County. It doesn’t take long to make up the bonus money if they make a well; if not, you don’t get anything. So if you need $300.00, take it. I would still ask for 1/5th. Lot of luck.
Carolyn - thank you for your response and suggestions. I’m not really sure where in Grayson the property is. All I have is a copy of the mineral deed with the legal description of the land and the survey number. Is there someplace I could go to determine the location? Also, are there any resources that could tell me what other leases are going for in Grayson recently?
There is an article on the Home page with Internet resources, including Texas maps.
Wade - thanks, but I’m new to this website and I’m not finding the internet links or link to Texas maps you mentioned. Could you possibly be more specific or post a link to what you are referring to?
Here is the GLO map link
http://www.glo.texas.gov/GLO/agency-administration/gis/index.html
Hello - since my original posting concerning a recent offer I received for my mineral interest in Grayson County I’ve learned some additional things. Carolyn Turner asked about where the property was located in the county. It is located in the northeast area of Grayson adjacent to the Big Mineral branch and might be part of the Hagerman Wildlife Refuge as the property itself was sold to the US Govt. in the 1940’s. The offer is from Jetta Oil Co. and is for a $150 bonus per NMA and a 3/16 royalty on a 3 year lease. So … with the foregoing in mind is this a decent offer?
Can anyone tell me what the going rate is for oil & gas leases in the area east of 1417 and about 1 mile south of 121?
150 is not bad but should get 1/5 NMA
Just received similar offer. Any concerns I should know about?
I got an offer from Silver Creek for $150.00 and a 1/4 but still working on the amendments.
We are adding amendments also to protect our surface rights.
Who is trying to lease you?
Energy Land Resources