Our family received a letter from Petroleum Landman, San. Miguel Energy Resources, stating our family owns 80 mineral acres in:
S/C of section 103, Block M, EL&RR Ry Co Survey, Dawson County, Texas.
They made an offer on 1/7/2011. We would like to try and obtain more information from people with - past and present experience on any mineral rights in this area - than we have.
One of our family members was told to contact a lawyer in the area who may know if the offer is fair. Before we do that I would like to find out more from this forum as to the best path to take on these mineral rights and the very best way to go forward.
Any input and assistance would be very much appreciated.
Les C
Yes, def get a lawyer with oil and gas experience in the area. Also, there is good information here.
Thank you very much David. I will look for the good information here as I go forward
David Mark McDonald said:
Yes, def get a lawyer with oil and gas experience in the area. Also, there is good information here.
The advise to consult a lawyer is very good and I recommend as well. Facts: I leased my land in western Dawson county last May for $400 bonus per acre mineral right for 3 years with an option for an additional two years at $400/acre mineral right. In addition I will receive 25% of production royalty and pay no fee for drilling, recovery, pipe lines, etc.
Kool: Thank you very much for your input. We live in the very north of the country and were wondering if you or anyone else can recommend a Lawyer who has expertise in this area of dawson County.
We were initially offered $300 per mineral acre for a five year primary term and $250 per mineral acre for a 3 year extension option and 3/16 royalty.
Seems you have a better deal but not knowing the rules and regulations your location may be much more lucrative. Thanks again for your quick response.
Les–
We own in Sec. 108 Blk. M. We had an offer about 6 months ago from someone who said he represented Chesapeake. He offered $400/acre + 1/4 royalty for a three year paid up lease. I asked him to send their lease form and when I got it we decided not to lease as the lease form had a pooling provision and other terms that would in effect allow Chesapeake to hold and tie up the minerals indefinitely. It was almost like selling your minerals to Chesapeake for $400/acre. Play your cards close to your vest. Get a lawyer especially to review the lease.
Roy
Roy:
Thank you, great reply. We will take your information and use it.
Can anyone out there recommend a straight shooter Lawyer?
Fulbright & Casselberry: Fulbright William
211 North Houston Avenue, Lamesa, TX 79331-5441
This is one of the best mineral right law firms in west Texas. They are quite busy and Mr. Fulbright recently is deceased, but if you contact them they will give you the needed advise to take.
Do you still own the surface to Section 103?
Hello Les,
My family was offered a 3 year lease with a 2 year option at $450 per acre, 1/4 royalty back a few months ago - but had to talk the lease terms up to that offer.
Thank you Emily that is good info at least you could talk them up. Can you share the company you were dealing with/
Do you own the surface of section 103?