I am not very experienced at mineral rights as you can tell. That is why I am turning to this forum for help and understanding. I recently recieved an offer with a check for over 7000 on one well in Harrison County. That is the first page. The second page, the one that I sign says $10 and other good and valuable etc etc. Is this a legitamate offer? It seems very high. Or is someone trying to trick me into selling the well for $10? This is for the BPX Operating Company Delcia M Young Gas Unit B. Thank you for any help. Mickey
The offer is what the check says. The $10, etc. is standard conveyance language. You need to find out how many acres you own. Below is the plat for that unit: you can multiply the decimal on your paystub * 661.22 acres * 8 = Net Royalty Acres (NRA). At the bottom is the map with the unit roughly drawn. There are 3 permits close by and Sabine has been drilling some decent Haynesville wells.
Are you sure that the offer is for one well or for all of your acreage? With horizontals in the area, do you want to give up the future potential? Always wise to get an attorney to review any legal wording to make sure that you completely understand the consequences.
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Thank you for your excellent informed reply. I cannot find acreage on tax statements or transfer orders.
Acreage shown on the offer is 661.22 acres. How large is the Blankenship survey A-71? There is one sentence I’m a little worried about. It is, "…covering lands in the L B Blankenship Survey A-71 and other surveys in harrison County, Texas I own several mineral rights in Harrison County. The Delcia Young transfer order shows 5 wells of which only 2 are currently producing according to the information that comes with the occasional check. I’m assuming horizontals means horizontal drilling? Perhaps this is what Comstock did that paid off so well for about 1.5 years. If so then these 5 could conceivably do real well for a short time. Thank you for your reply and help.
In Texas, that clause will transfer ALL of your Harrison County acreage, no matter where located, to the grantee.
That’s what I was wondering. So it’s a crude attempt at ripping me off.Thank you, Todd.
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