My wife has a small interest in several wells in McMullen County and will periodically get offers to buy her rights. It’s usually in the $500 to $700 range but yesterday she received an offer for over $7000. She’s not interested but wondering if anyone knows what might cause this offer to jump up like that. Is there new activity in the area?
What is the legal description? Who is making the offer?
The offer is from a Denton Creek Investments out of Addison but the grant is to three companies in varying percentages. Freedom Pacific Trust, Redrock Petroleum and Panther Ridge Resources. There are nine wells listed. I’m not fluent in the legal descriptions of all this but it whats on the offer for one of them is AB 1007&181/Fisk, J G & O & Elliott. I do have the RR Commission number for a couple of the wells, 20643 and 20656 if that helps locate them.
Just spitballing, could be the PDP value over the next 10 years, possible space for a few more wells, refrac current wells…
My sister and I have also received an offer from Viking Oil for 10 acres in Naylor Jones. Have received offers before about $7000 per acre but Viking if offering a LOT more. Dont need the money but royalties are $100-$200 for each of us. Not sure what to do. What’s going on?
What unit #? Looks like EOG has lots of production and permits.
Naylor Jones Unit 30 #1 & 2 H. Thank you for your help.
Those guys are scam artists. Their offer has fine print stating that they are acquiring everything you own in Texas, under the guise that they are only buying specific properties. It may be likely that you own additional mineral rights that you didn’t know you had.
I would never do business with that group.
Well if there is one thing about EOG, it is that they drill. I drew a rough outline of the unit on the map, but the plat is attached at the bottom. There are five permits just north of you…prob anticipating the same in your unit.
PR0006748698_0001.pdf (672.2 KB)
Is there any value in selling only the mineral rights and keeping the land?
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