My siblings and I are owners of some land in Ward County inherited from our father in Block 34 Section 124.
We just received an offer from a landman on behalf of Callon Petroleum to either lease or buy the mineral interest.
Not sure which would be better to do. They were confused about a mineral and royalty conveyance that our father signed in 2002 over to American Assurance for a sum.
There is also a Stipulation of Interest where I and my siblings have executive rights and a company called Chisos Minerals has non-executive rights.
I don’t understand all of this and would like some advice on best decision to make.
In my opinion, NEVER sell your mineral interest. Lease them but never sell. Find an experienced lawyer and spend a little money reviewing the lease contract and start making money!
Your section is surrounded by horizontal wells. This link will open Texas RRC GIS Map Viewer so that you can see where your minerals are located. The green dots are producing wells. As Joe Long suggests, seek advice from a good oil and gas attorney.
Thanks so much for looking up the info. Wow, I had no idea what was out there! A lawyer saw my post and reached out to me so I will be contacting him soon. Thanks again.