My family & I recently discovered that we inherited 7.095 net acres in Leon County Abstract A-448 we have had many offeres starting with 10,000 for all to most recent 10,000 a net acre. We I’ve also been contacted by a company saying they’re doing a curative title cleanup So they can put non-participating royalties in to pay. Our dilemma is, we don’t know whether to sell or to hold on or how to get the title into our names. I feel like we would’ve had many more offers, but companies have to jump through hoops to get to us since our name is on nothing. My father inherited from his grandparents and he is now deceased so the original names are on title. Any insight would be greatly appreciated!
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The lateral for Comstock’s WA Harrison 1H runs right through the CM Jones A-448 Survey. That well went into production on March 13, 2024.
If someone is doing curative title work regarding a non-participating royalty, that suggests that your acreage is in the unit for the Harrison well.
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Do not be too quick to sell. Suggest that you get a probate attorney to help you get the rights into the proper heirs names asap. You need to get any current royalties that are owed to you into pay status. You need to check the unclaimed funds with the state of Texas Comptroller’s office. You would have to get title cured to sell anyway. Much better to have your own attorney working for YOU and not a buyer attorney working for them.
It is likely that you only have a portion of the 7095 acres due to fractionation over the decades. So you need to find out exactly what you own.
Look up your abstract on the Texas Railroad Commission site and get a feel for how many wells are on your property and nearby. Multiple offers mean that multiple folks know a lot more than you do and they plan to make a profit off you. Your family needs to decide if they would rather have that profit instead. Horizontal wells produce high volumes in the early years and then lower volumes in the outgoing years. You might have mutliple wells in multiple horizons.
Please get informed before making any decisions.
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You have very simple solution’s. DON’T SELL. The company doing curative title will most likely give you the title and help get it settled. Don’t be fooled by multiple offers. It’s nice to get them but you don’t have to take them. Maybe you will get the title work corrected and get your monthly checks. It takes time. Be careful what you sign.
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Do not sale…lease what we did.
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Sometimes the reason you get offers to sell is because there are already monies in suspense. Don’t make decisions on information you don’t have. Don’t sell until you find out what you actually own and what it is worth. There are many professionals that help out mineral owners from mineral managers to appraisers to attorneys that can walk you through this process. @M_Barnes has laid out a lot of good information for you. Get in the know about your property before you make it someone else’s property.
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Thank you all for the advice! I believe we know what we own because title work was done by a potential buyer. If I understand correctly there was 87 acres on original deed but we own 7.095 net acres.
@Stacyerin I’d be careful with that kind of statement. If you were selling a bushel of apples by the apple, would you let the potential buyers count the apples?
One of the great shortcomings in the mineral buying and selling arena, is that many, many owners do not know exactly what they own, but because they know very little about how to determine that, and how the overall process of selling should be properly handled, many have been taken advantage of over the years. It is fair to state this is not the case all the time to be sure, but it happens not so infrequently. Another wrinkle to this is understanding and concurring on exactly the legal description of what is being conveyed.
Ideally you have professional help, being paid for by you alone, with a fiduciary responsibility and obligation to have your sole interests as their objective.
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Great Advice your exactly right! But most people just want take it!
There are good reasons not to share all your specifics online. Some people put too much information out there.
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My name is James Guleke and I am an Independent Landman based out of Austin, Texas.
From what I can gather, it sounds like you own an unratified non-participating royalty interest in a drill site tract. I would not sign anything before consulting with a Landman or Attorney.
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Not a lot of lawyers in South Carolina who are up on this. How would we go about finding someone we could trust?
You need to find an attorney or mineral manager who understands oil and gas law in the county and state where your property is located.
David, you cannot lease an NPRI. It is a dependent interest.
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Unless you really need the money, it might be worth it to sit on your mineral rights. We have noticed the inevitable uptick in proposed buyers when an oil company is about to drill some new wells (sort of a signal to anticipate something positive). We have also noticed that many of these prospecting companies share similar addresses, employees and board members. So, they are not competing with each other in any true economic sense.
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If you will provide a county and State for your properties, I can offer some suggestions for attorneys and possibly landmen.
“Leaks” within companies?
I’d be interested in any suggestions for attorneys/landmen in Leon County, TX.
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I have used Kelly Morton as a landman on a property review in Burleson, but Leon should be in her work area. She did a good job for me. 361-798-0117. The attorney I have used on some TX matters is Rick Strange, Hamm Law Group (Midland, TX) 432-695-4185. If you need someone local to Leon Co, then he may be able to make a referral. Good luck.
It’s not difficult to follow pre-permitting/permitting online via public filings. The conspiracy that every mineral buyer has someone on the inside is such a joke.
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