We are brand new to the mineral rights game and need some guidance. A company offered to purchase our mineral rights in Loving County TX. The unit they are interested in is Lindsay 10-15H and we are trying to determine if they are offering a fair $/NRA.
For those on the site to help you, you might give more details about what section you are in, how many net mineral acres you own, etc. Good luck. I won’t sell my interests in Loving. Too valuable. There are some great people here that will give good advise.
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The offer only said Lindsay 10-15H. However I searched on mineralholders.com it says Lindsay 10-15H 21H. Does that help?
Also, does the number of net mineral acres affect the offer $/NRA? I’m not too inclined to share the net mineral acres for privacy reasons.
RR Commission website shows that the Lindsay 10-15H is temporarily abandoned. Lease # is 283842.
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You need to fully understand what minerals you own. An offer citing a single well will take your minerals in all other wells in the same tract or tracts. Beware of language that includes everything else in the county which will take other minerals as well. Are there new permits - new wells will increase value. Any royalties being held in suspense by the oil company? You want to collect that.
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I have a friend who wants advice a lot of times but want tell you the hole story or deal! Ha! Ha!
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I’m just not willing to share information in a public forum that will lead to identifying my family, which could be easily done if providing more detailed info. I guess my best bet is to contact a landman and see what he/she could negotiate on our behalf. All of this is brand new and didn’t know what to expect.
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There are lots of posts about unsolicited offers which can often be too low because they have information you lack. Or could be pie-in-sky too high to suck you in. If title has recently come into your names thru an estate filing in deed records or change in property tax records, that is public information online and that is how you have been contacted. A good landman will need to know or determine exactly what mineral acres you own to negotiate for you and will have to be compensated for his time and knowledge. Take your time and do not get rushed by pressure tactics. Never turn over a signed deed without money up front.
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This is a fun flat circle.
If you want to see if something is fair, the easiest free way to see if it is fair is for lots of people to know what you own and what you are considering selling. Then not only can people who might give you advice give you advice, but more importantly, more people might just contact you and make you an offer. And then you have points of comparison and likely would reach different perspectives. I mean, you are in the public record already for pseudo bottom feeders scanning the public record.
If you don’t want any offers or free advice, then sure, go nuts. Don’t tell anyone anything. But then you probably also don’t want any advice or care about any offers.
The number of net mineral acres should not affect the $/NRA.
On separate note, there are a billion active wells in Lindsay 10-15 lease. Its made like 5 million barrels and 40 bcf. I’d be a little more concerned about the disconnect between “owning there” and “brand new to the game” because someone there should have been getting like $60k/NRA of revenue since 2018.
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