What is the best way to find out your net mineral acreage in a section?. My family was recently offered $5350 an acre but we are unaware of how many acres we own. Below is the details.
Undivided interest in Northeast Quarter of the Northeast quarter Township 2 north, Range 3 west of the Indian Meridian
Was the offer to lease or sell?
Peak energy would like to purchase it.
Do you know what royalty your lease is? If so, get a paystub and see what your decimal is, then
decimal divided by royalty (12.50, 18.75, 20 or 25) then times 1280 (unit size)
Welcome to the forum.
You should have a bit more information in the description line such as a 1/10th interest or something like that… Very rare to have the whole 160 acres after so many generations after original patent.
Section 2 has a long history as it was part of several water flood units. Do your check stubs have a well name on them (Wacker or Lambert wells) or a waterflood unit name on them? You have a horizontal well in the unit as well. Kessinger 1-11-2XH. That well is positioned to leave room for more horizontal wells in the future. Your decimal interest may be tied to the earlier water flood unit or it might be to the newer well. Do you have the Division Order from the new HZ well?
Just be aware that cold call offers to buy are generally lowball amounts just to see if folks will bite. They are trying to buy what is left in the ground and they will make a profit off of you. If you do not need to sell, then just ignore the offers, but keep track of them. Can’t hurt to ask the guys offering how many acres they think you have. If they cannot answer you, then they have not done their title work and they are probably just fishing…
I will have to look through all of my paperwork again but believe all I have in the mineral deed for this track. We haven’t received any paystubs
Thank you all for the information. The deed says an undivided interest so I do believe we own the entire track. The deed is under “The roller family special needs trust”. We haven’t received any information reguarding horizontal well. Unfortunately the records I have do not go that far back so it is possible we have received paystubs but not in the past 8 years. Last year I received letters from Casillas for sections 23,26 and 35 but nothing for section 2.