Mobile County Alabama oil and gas mineral rights discussion group.
I have inherited mineral rights from my father who passed a few years ago. I have questions in regards to a leases I signed. Did I do the right thing? Is it a good deal? and Does anyone know whats going on in this area Mobile County, AL.
1st. The 2 different lease terms in Mobile County, AL are 3yrs or for so long as oil and gas are being produced. 1/5 or 20% of the value of oil and gas produced, with a signing bonus of $50 & $75 per net mineral acre per lease.
Is this a good deal.
2nd The areas are Sections 4,5,8 & 9 Township 1 South, Range 1 West and Sections 21 & 28 Township 1 South, Range 1 West
The company is planning on re-entering the Newman 21-11 well. If anyone knows anything about the Turnerville Prospect or Cold Creek Field Prospect in the mentioned areas above It would be truly helpful.
3rd I am a Golf Pro so I am really out of my element and currently unemployed as well as my wife. Suppose this hits what kind of time frame am I looking at in regards from siging lease to, drilling to producing, to cashing a check. I pray this hits as life gets more stressful everyday.
PS this is a reentry well with that got fouled up previously in 2006 and I found out that the operator is now waiting on a rig. How long can that take? I know there is a shortage of rigs.
Thank you,
Grant
I am the spokesperson (and payer of property taxes) for a tract of 5 parcels of non-waterfront land, including mineral rights, on Mon Louis Island in South Mobile County. SEVENTEEN additional family members share this inheritance with me and we need to know if this property has any potential value regarding the minerals. Property tax is only $50+ each year, so it is not highly valued for other purposes at this time. We've had this property for close to 20 years and have already had shares transferred due to deaths, etc. and I fear it will only become more and more a problem as it becomes shared with more people and new names. My great uncle thought he was doing something nice for his family, but we aren't so sure. I know there is natural gas activity in the area as well as off the coast but does anyone think this land (a very long sliver running east to west between Mobile Bay and Fowl River but not including any waterfront) could have the potential to help any of us financially? We need advice if anyone is out there with knowledge of how things are looking in south Mobile County.
We've had this property for close to 20 years and have already had shares transferred due to deaths, etc. and I fear it will only become more and more a problem as it becomes shared with more people and new names. My great uncle thought he was doing something nice for his family, but we aren't so sure. I know there is natural gas activity in the area as well as off the coast but does anyone think this land (a very long sliver running east to west between Mobile Bay and Fowl River but not including any waterfront) could have the potential to help any of us financially? We need advice if anyone is out there with knowledge of how things are looking in south Mobile County.
Thank you and I hope to hear back from someone with advice for us! I want to strike oil, but I seriously doubt that will happen!
Carolyn Fogarty
PS - I have the legal descriptions if that might be helpful to you.
Miss Carolyn, if you let me know the legal descriptions then I can give you my opinion. You can send me a friend request if you prefer to discuss this topic privately.
Stephen, sorry for the delay. I forgot how to connect to this site again! My parcels are: 4202190001004; 4202190003004; 4202330008004; 4202190002008; and 4202190002007.
Will that help or do you need key numbers, etc.? This is what I use to pay taxes. Thank you and I hope you can shed a little light on what we should do with these five tracts of land.
Dear Miss Carolyn, let me check and see what I can find out.