We recently inherited 20 NMA acres in NW/4 Section 18 Twp 4S, Range 36E. Our property is not leased. Does anyone have information on on per acre selling prices and any activity going on in these areas.
Hi David:
We have mineral rights for Township 4 South, Range 35 East, Section 19: SE1/4. Appears we are fairly close. We made a visit to location a couple of years ago and no activity except for windmills on property. If you determine anything going on in area, please let me know.
Thanks, Steve
David, My Grandfather left instructions to his kids, which might be good for you and your Brother. He said: “You can sell the Land, however you can never sale the minerals”
Recently one cousin wanted to sell his minerals to make it easy to transfer his wealth at death. I said Ok, I will set up to buy them, but I think you’re making a really big mistake. During this time, we were changing trustees as BOA said we put them at risk after 75 years of watchful trusteeship they back away and we had to move. The Company that I moved the Minerals too from Bank of America, found a lease that BOA had done, however as in the their past, they close the P.O. Box that the Oil Companies send checks to. New company found $700,000 in new oil production that BOA had let go, they transferred for our Family. After Cousins $70,000 Bonus arrived and then $7500 a month started arriving, he decided he didn’t want to sell the minerals after all. I see you mentioned Relinquishment land, Our family just made a lease for 558 acres for this type of contract. This is handled much like PSL (Public School Land) You maintain the surface and then you share 1/2 of the minerals underground. However this lease is one step better than the PSL. It states that the driller has to drill in the first year of the contract. Usually a driller gets a 3 year lease, no option from us. Then they drill in the last year of the lease. But this lease forces them to drill in the first year. Hire Attorney to help you get a good price for your Minerals, but you will see your discernment that they will be paying you only 10 months of payments. This Land ain’t growing any more land in West Texas. The land we’re selling just outside Odessa that we can separate the minerals from is bringing about $26,000 an acre with out minerals. God Bless, Chris