JUST WANTED TO KNOW IF ANYONE HAS MINERAL RIGHTS IN LIMESTONE COUNTY.
I WAS OFFERED A LARGE AMOUNT FOR MINE THIS MONTH. I HAVE NEVER BEEN OFFERED THIS MUCH BEFORE. WANTED TO KNOW WHATS GOING ON THERE WITH THE DRILLING AND WHAT ALL IS PRODUCING. ANY INPUT WOULD BE APPRECIATED.
We own mineral rights in Limestone County. Our interests are located along the North West bank of Lake Limestone. Where are your interests located.
Limestone County has been very active in the last 6 or 7 years for natural gas drilling; although activity has lessened in the last 2 years.
DAVID, MY MINERAL RIGHTS ARE LOCATED NEAR LOST PRAIRIE CHURCH OFF OF HWY 164, ON CR 808. ROGERS GAS UNIT IN THE M. PALACIOS SURVEY A-21 AND JL CHAVERT SURVEY A-4. TRACT 6. I NO LONGER OWN THE PROPERTY, JUST THE MINERAL RIGHTS. OVER THE YEARS I HAVE GOTTEN OFFERS, BUT NOTHING LIKR THE OFFER I GOT A COUPLE OF WEEKS AGO. THATS WHAT MADE ME WONDER IF THERE WAS SOMETHING DIFFERENT GOING ON IN THE AREA. I CHECKED TEXAS RAILROAD COMMISSION WEBSITE AND IT DOESNT LOOK LIKE ANYTHING UNUSUAL GOING ON THERE. I HAVE BEEN RECEIVING MONIES EVERY MONTH, BUT LATELY THE CHECKS HAVE BEEN LARGER THAN USUAL. BECAUSE OF THE OFFER, I AM TEMPTED TO SELL. ANY THOUGHTS?
DLH
DLH,
CR 808 is FM Road 3371. Your rights are located just North of our Rickard Unit. You can research our production on the Texas Railroad Commission site by searching our operator, Berry Oil Company, in District 5.
I certainly can't advise you, but if the price of natural gas rises, your rights are potentially in a very productive area (namely the Cotton Valley-Bossier Consolidated field). It sounds like you already have your rights leased, am I correct? If so, I think you should contact the operator and get some sense of the potential production of your area. They should be able to give you information to determine whether the offer to purchase your rights is reasonable.
Please keep me informed as to your decisions. I think this area has great potential, but money is very tight right now for operators to drill deep and horizontally.
David
DLH said:
DAVID, MY MINERAL RIGHTS ARE LOCATED NEAR LOST PRAIRIE CHURCH OFF OF HWY 164, ON CR 808. ROGERS GAS UNIT IN THE M. PALACIOS SURVEY A-21 AND JL CHAVERT SURVEY A-4. TRACT 6. I NO LONGER OWN THE PROPERTY, JUST THE MINERAL RIGHTS. OVER THE YEARS I HAVE GOTTEN OFFERS, BUT NOTHING LIKR THE OFFER I GOT A COUPLE OF WEEKS AGO. THATS WHAT MADE ME WONDER IF THERE WAS SOMETHING DIFFERENT GOING ON IN THE AREA. I CHECKED TEXAS RAILROAD COMMISSION WEBSITE AND IT DOESNT LOOK LIKE ANYTHING UNUSUAL GOING ON THERE. I HAVE BEEN RECEIVING MONIES EVERY MONTH, BUT LATELY THE CHECKS HAVE BEEN LARGER THAN USUAL. BECAUSE OF THE OFFER, I AM TEMPTED TO SELL. ANY THOUGHTS?
DLH
I am new to this and certainly don’t know much, but if I were you, I wouldn’t sell unless you are in dire need of money now.
DAVID,
YES, STROUD PETROLEUM. WHEN I CALLED THEM THEY ACTED LIKE THEY NEW NOTHING ABOUT ANYTHING. IT WAS LIKE I WOKE THEM FROM A NAP OR SOMETHING. THE GUY FINALLY GOT BACK WITH ME A FEW DAYS LATER AND SAID HE COULDNT SEE ANYTHING UNUSUAL IN THE AREA. HE WAS VERY SURPRISED AT THE OFFER I GOT. I AM STUMPED AS TO WHAT TO DO. I KNOW ITS A GAMBLE AND A RISK TO KEEP IT IN HOPES OF HITTING SOMETHING BIG AND ON THE OTHER HAND CASH IS KING. I THOUGHT I'D CHECK AROUND TO SEE IF I COULD GET ANY BETTER OFFERS THAN WHAT I GOT SO FAR AND SEE WHERE THAT LEADS ME.
THANKS FOR THE INPUT
DLH
DANA,
THANKS FOR YOUR INPUT. I APPRECIATE IT. I'M NOT IN DIRE NEED, BUT IT SURE WOULD FREE US OF OUR BILLS TO LET US BREATHE EASIER. I KNOW I'M GONNA KICK MYSELF IF I DO SELL. WOW, WHAT TO DO?
DLH
DLH,
How many acres of mineral rights do you own? You might look into selling a portion of your rights. I'm like Dana, I don't think you should sell all of them, especiall while the price of natural gas is so low.
David
DLH said:
DANA,
THANKS FOR YOUR INPUT. I APPRECIATE IT. I'M NOT IN DIRE NEED, BUT IT SURE WOULD FREE US OF OUR BILLS TO LET US BREATHE EASIER. I KNOW I'M GONNA KICK MYSELF IF I DO SELL. WOW, WHAT TO DO?
DLH
David G. Rickard said:
DLH,
How many acres of mineral rights do you own? You might look into selling a portion of your rights. I'm like Dana, I don't think you should sell all of them, especiall while the price of natural gas is so low.
David
DLH said:DANA,
THANKS FOR YOUR INPUT. I APPRECIATE IT. I'M NOT IN DIRE NEED, BUT IT SURE WOULD FREE US OF OUR BILLS TO LET US BREATHE EASIER. I KNOW I'M GONNA KICK MYSELF IF I DO SELL. WOW, WHAT TO DO?
DLH
Don’t sell the farm, surface, mineral, water, or your air rights. I can’t believe anyone would even think in that direction.
BTW: XTO leased 3 years ago in this area and Units were formed, wells were dug and they have production where they want it, but they are not making any monies from production in this area. Now, they are exercising their option to renew another 2 years. This morning they said they are not taking new gas leases in this area. They are not making any money from them and they are renewing because it is cheap for them to exercise their option to keep what they already had. Some leases are being let go …
If anyone knows of an Operator who is leasing in the following areas, please let me know.
Robertson County
Manuel Cresencio-Rejon Survey - Eleven Leagues Survey - A-37 - Tract 26
Limestone County
M.C. Rejon-West Survey - A026W and A567-Charles Welch Survey- Tract #14
Thanks,
Pat
David G. Rickard said:
DLH,
How many acres of mineral rights do you own? You might look into selling a portion of your rights. I'm like Dana, I don't think you should sell all of them, especiall while the price of natural gas is so low.
David
DLH said:DANA,
THANKS FOR YOUR INPUT. I APPRECIATE IT. I'M NOT IN DIRE NEED, BUT IT SURE WOULD FREE US OF OUR BILLS TO LET US BREATHE EASIER. I KNOW I'M GONNA KICK MYSELF IF I DO SELL. WOW, WHAT TO DO?
DLH
DLH…I think the reason we are being offered this large amount…extensive seismic work has just been completed in this area. They must have found something !!
David G. Rickard said:
We own mineral rights in Limestone County. Our interests are located along the North West bank of Lake Limestone. Where are your interests located.
Limestone County has been very active in the last 6 or 7 years for natural gas drilling; although activity has lessened in the last 2 years.
David, I think I have interest in that same area…2 300 acre tracts. They are leased. 80 acres in a unit…James Oates Unit. The rest to be put in unit and to be drilled in next 4 to 5 months because some of it…lease to be up early fall if they don’t drill. Just leased the rest of it . XTO has these leases. Some of this is under lake but plenty of room to drill on land.
ANYONE WHO WOULD KNOW,
DO I HAVE A CHOICE WHO I LEASE MY RIGHTS TO? IF SO, HOW DO I GO ABOUT GETTING THE BEST PRICE?
THANKS
DLH
I agree with Dana !!
Dana Bratcher said:
I am new to this and certainly don't know much, but if I were you, I wouldn't sell unless you are in dire need of money now.
Shirley---are you related to Imogene White? She had property next to both sets of my grandparents, and SM Energy has a big gas plant on some land that was hers (on LCR 788).
Our interest is in the Acosta Survey just north of Lake Limestone--SM Energy has the wells. I have a total of about 40 acres out of 118 acres that are not in a unit but are tied up with a lease that covers part of this land. Apparently my grandparents didn't know to hold out for a Pugh clause.... It is very frustrating having a well on your own land but 450 feet away the line is drawn (since the 1960s) and right now I apparently can't collect on those 40 acres.
Dana, navigate to www.allexperts.com (oil & gas) and write James H. McConnell bout your situation and see what he says.
Pat
Dana Bratcher said:
Shirley---are you related to Imogene White? She had property next to both sets of my grandparents, and SM Energy has a big gas plant on some land that was hers (on LCR 788).
Our interest is in the Acosta Survey just north of Lake Limestone--SM Energy has the wells. I have a total of about 40 acres out of 118 acres that are not in a unit but are tied up with a lease that covers part of this land. Apparently my grandparents didn't know to hold out for a Pugh clause.... It is very frustrating having a well on your own land but 450 feet away the line is drawn (since the 1960s) and right now I apparently can't collect on those 40 acres.
Shirley,
Good luck! XTO is now owned by Exxon; much capital available for drilling. I hope all goes well. Keep us informed as to progress.
David
Shirley White said:
David, I think I have interest in that same area...2 300 acre tracts. They are leased. 80 acres in a unit..James Oates Unit. The rest to be put in unit and to be drilled in next 4 to 5 months because some of it..lease to be up early fall if they don't drill. Just leased the rest of it . XTO has these leases. Some of this is under lake but plenty of room to drill on land.
SHIRLEY,
BUT I NO LONGER OWN THE ACREAGE. 65 ACRES WERE SOLD BACK IN 1998. I ONLY KEPT THE MINERAL RIGHTS. MY QUESTION IS, HOW LONG WILL IT TAKE TO MAKE $63,000.? THE TOTAL OF MY PREVIOUS YEARS INTERST WAS ONLY $1,200. AND LAST YEAR WAS THE MOST I HAVE EVER GOTEN IN ONE YEAR AND THAT WAS ONLY $8,000. I AM NOT A SPRING CHICKEN. WILL I LIVE TO REAP THE BENEFITS? DO YOU FEEL THERE IS MAJOR MONEY ON THE NEAR HORIZON? HOW NEAR?
Here is what little I know about my grandparents properpty...
The #1 well on my grandparents place has been producing for close to 30 years. It was one of the first in the area. There are now 12 wells in the 740 acre unit. The unit was formed back in the late 60s/early 70s. It started out with Pennzoil and has ended up with SM Energy. The companies will jack around and not tell you anything...make you think it is worthless and a dry hole, etc. Then, when they get everyone in the unit for as cheaply as they can and jack around some more, they finally start drilling and paying. I would say it took about 20 years (from the 60s to the 80s) for the lease to start really paying...some checks to my grandmother in recent years were $10,000 per month on about 300 acres (and 150 acres of that had only 1/2 mineral rights left..or 1/32nd). Of course, the monthly payments depends on both production and the price at the wellhead. Production is controlled depending on demand. My grandparents should have never sold part of their mineral rights to the "lease hound" who hunted my grandparents down and offered $$, but they thought it was all pretty worthless since companies had been "testing", etc., and not done anything. Of course, while the oil companies are acting like there is nothing there, they wouldn't give up the leases either. That is why I say hold onto your mineral rights if you can. If you have children, they will appreciate it...lol.