Let's hear from our new members, Let us know something about yourselves and your mineral rights. Where are your MR's and how many mineral acres do you have?
Yours,
Wes
Wes,
My family has mineral rights on 240 acres in Polk County near Barnes. What is the going rate for leases in the area. Would appreciate any information anyone can provide.
Paul
Paul,
I am not familiar with the Barnes area. When I started this discussion I thought I had MR's in Polk County. As it turned out my Father sold his interests there about 30 years ago. Sorry I can't be of any help. Maybe a phone call to the county clerk would give you what you need. I wish you much luck. I will help you if you think I can. Have a great day.
Yours,
Wes Luke
Paul Lindsey said:
Wes,
My family has mineral rights on 240 acres in Polk County near Barnes. What is the going rate for leases in the area. Would appreciate any information anyone can provide.
Paul
I own 40 acres of mineral rights twenty miles southeast of Livingston and have received two lease offers in the last month or so. One wanted to buy the rights outright and the other offered a one year with additional one year option for$120 per acre and 25% royalty. My impression is that the area is heating up due to horizontal fracking technology that has been productive in the "Eaglebine". I have no idea if this is a good offer but from my limited research, it seems to be ok. Gary
Hi Gary,
After starting this county forum I found out the MR's we thought we had were sold some 30 years ago.
This I can tell you though. If one oil company wants to buy your MR's and another wants to
lease them, I believe you are correct. I wouldn't consider selling unless you are old and have no
family to leave them to. I say that because it might be a long time before you realize anything
other than Bonus money. The one year lease couldn't be better in my humble opinion. I personally would tell the oil co. you want $300.00 bonus. The 25% royalty is high end normal. $300.00 is so little money to an oil co. they would never miss it. Would you mind telling how much the other co. offered to buy your MR's?
I hope I've been able to help you. I wish you lots of luck in your new venture.
Wes Luke
I discussed offers on my 40 acres of MR 20 miles southeast of Livingston last week. I have been offered $30,000 for the rights. Is that a decent offer? To the best of my knowledge there is no drilling within 10 or 20 miles of my MR's.Gary
Dear Wes or Any Other Subscriber in the Polk County, TX Area:
I am desperately seeking a sale price for my 11.27936880 mineral acres of the mineral rights in 46.03824 acres located in Leggett, TX Ben J. Harper Survey A-36, Polk County, TX. Approx. 5 years ago I was offered $7500 for it. Of course, I never negotiated or did anything with the offer, but pitched it. Does anyone know what the going rate would be today? I am also interested in lease offers as well as previous lease with Amarado Oil Company ended Dec 2013. Any help would be most greatly appreciated. Thank You!
Also, I have another question about pooled well that is located in Moscow, TX and operated by Devon Energy. They approached us a while back about horizontal drilling but offered no money or no more money than the original agreement. Is this common? The well is not producing hardly anything these days. Thanks again for your help!
MR's for Oil & Gas lease on 2772.39 acres in the Issac Pate Survey, Polk County, TX
Offer Is: O&G lease bonus $350 Primary Term: 3 yrs. O & G Lease 1/5
No mention of a lease price just the bonus. also clause 9 commits the lessor to warrant the title on the property. We absolutely will not do this. The O G & M rights were held by ancestor J Boulter and we have no idea how many heirs there are now, nor who has lived on the property or paid taxes, liens or anything else. We did know Grandfather Boulter held OG&M rights on thousands of acres of land in a number of counties and have received money in the past form other leases. However, we have never had to commit to such terminology except on property where we have complete control, owning the land and OG&M rights. We have not called this guy Taylor Land & Mineral Services Inc. and don't know how to vet him. He has sent a W-9 Tax form with the lease and we are concerned about turning social security number over to some unknown person. Other leases we have only submitted this into to the oil company when they are paying. This guy didn't send a draft for collection or anything like others have. Something just seems off kilter. We would like to discover a way to discover who is drilling on this is a legitimate deal or not.