We had minerals leased near Idalou in the 2010-2012 activity. We were hopeful and excited but nothing came of it. I never got many details but would love to see more activity in that area! Good luck to Lubbock County!
Bobby now you know how much activity is going on in Lubbock County. The last major leasing was on 2010-2012.
Well we have acreage south on slide road. Last well drilled was west of Woodrow and slide Slide road by Enduro out of Fort Worth. There was A lot of rumors and it was declared shut in Producing. Weird.
Here I come. Lubbock has a lot of potential.
The Enduro debacle was just that. They never got anything but saltwater out of the well on west Woodrow road. The well has been sold to another company that specializes in plugging wells and salvaging the casing. The other well just south of Reese did produce some oil but very little and then the casing parted so was a train wreck from day one. It also has been sold to the same company to be plugged and salvaged. Enduro spent close to $80 million on acreage, drilling, completing just 2 wells in Lubbock county and is rumored to be on the verge of collapse.
So the average cost to drill a well in Wolfcamp is about $7million. $80 million spent for just two wells? Sounds to me like that company or person has a future in government!
Hi, Caroline–I don’t know anything about this Boulders Royalty Corp., but the extremely short deadline makes the deal “sound fishy” to me, also. I don’t know how many net mineral acres you own, so I don’t know if the $5,000,000.00 offer is realistic or not. There was a lot of activity around Wofforth a few years ago, but with mostly disappointing results as I recall. Good Luck and Be Careful!
We have mineral rights through my husband’s father’s family in Lubbock county. They were leased back in 2012 by The Caffey Group for 3 years. Last week we received a letter from Boulders Royalty Corp. offering to buy our non-active rights for lump sum and they have allocated 5000000 to purchase. They have asked for our lease paperwork and said the offer is only good till 5/12/2017. I am not sure if this is a good deal but the deal sounds fishy. We think the mineral rights are near Wolfworth but not sure.
Did they make a “per net royalty acre” offer? If so, how much and location would be nice… I’d be glad to look into these guys if I had some specifics.
They made no real offer they want us to tell them how much we own with an old least I think and then they will make an actual offer but they have set aside 5,000,000 to make an offer. I am not sure the actual location of the mineral rights except we have it on the old lease and we have like 1/16of a few 100 meneral acres. I need to find the old lease. But it really read like a car dealership add.
Ms. Simmons, 1/16th of a few hundred mineral acres would make 5 million dollars unrealistic. It sounds like bait to me.
Wow, I don’t know how people are miss reading this letter. I received it as well. They are not saying they will give you $5,000,000 for your mineral rights. They are saying that they have “allocated” 5 million dollars total.
This is nothing but a form letter, that they are sending out to all owners of mineral rights that they could find in the county records. They are just hoping someone will snap it up. I’m sure they will offer you some very low price. They are taking a gamble that the Lubbock area will heat up again some time in the future like back in 2012-2013. time frame. I personally don’t think this will happen. As anybody who owns mineral rights should know, they aren’t worth a plug nickel unless somebody is willing to lease/buy them. Why did the Lubbock area heat up? Well this is the story as I see it, others can offer their story as well. Some report was published by I think it was contractors working for Haliburton, that the Permian Basin my possibly run further north including the Lubbock area than was previously know. That caused Oil drillers to start snatching up leases. If new oil deposits had been found then these leases become hot commodities, they can then be traded around almost like stock. As we all know several test wells were drilled and came up with nothing.
If anybody does follow up on this letter, please post your experience. We would all like to know what happens.
II knew in was no 5000000 I read the allocated up to. It sounded like they where trying to real us in with a big number. And these mineral rights are not worth much now but in 10 to 20 or 50 years that could change. Even 100 years. Thank you it sounded like it was a form letter but I was not sure if it was because other family sold as we don’t talk to everyone or they don’t talk to us.
Has anyone received a real offer yet? Why is Boulder looking to buy royalty and minerals in Lubbock County? The last activity was leasing back in 2012 and prior to that it was ages ago. So what has occurred to have a company looking to buy non producing mineral rights?
What happen to Bobby Grace coming to Lubbock? Does anyone have any information on Wind Towers in Lubbock? May need to reserve you air rights, wind rights just like the mineral rights if you decided to sale land or minerals? Just a thought!
The following is a sponsored (paid) promotional notice:
If you own minerals in Texas or New Mexico, consider attending the NARO – Texas convention in San Antonio July 18-20, 2018. They have a great agenda, good speakers, and the cost is reasonable. This year also includes a special session for New Mexico mineral owners. The current agenda draft is attached, and a link to their signup and information page is http://www.naro-us.org/event-2824234
Attachment: 2018-04-30%20-%20NARO-TX%20Convention%20Agenda%20%28Hyatt%29%20invite.pdf