What I would like to know is what areas are being leased in Smith County?? In other words, what is the leasing active areas?? My family has mineral properties in Smith County, and would be interested in any help out there on leasing. George (Dick) Gaut
I would appreciate information concerning bonus payment and royalty being offered in the area of Wm. S. Hines Survey, A-463 in Smith County, Texas. The property is 35+ acres in the area of Pine Springs Road (near the Pine Springs Baptist Church) and County Road 334.
The initial offer is for $200 bonus payment and a one-fifth royalty of oil and gas production on a three year lease. The proposed lease provides for a 2 year extension for a payment of an additional $200.
Rick,
I have noticed you have not received a response to your question. I personally don't have minerals in Smith County but a friend has mineral acreage just to the East of Lindale and he leased his minerals several months ago I think for $200 per acre. The 1/5th royalty sounds good and the 3 years with a 2 year option is normal for this area.
I notice on the GIS map not far from your A-463 is an oil well that was drilled in 1982 in A-762--API 423-30597
Not much activity or production in the immediate area but a lot of wells and production to the Northwest of your acreage.
GIS Map of Smith County A-463 and surrounding area:
Clint Liles
My family has mineral interests in Elisha Stephenson Survey, A-940; John Bushnell Survey, A-164; James Jacobs Survey, A-503, TG Gardner Survey, A-373; James Bench Survey, A-67; JS McDonald Survey, A-649, AR Clark Survey, A-280, and H. George Survey, A-367 all located in Smith County. Clint, can you tell me how I can get copies of those surveys - hopefully at no charge? Aren't they part of the public record somewhere? Thanks for your help!
Donna
Donna,
Call the Smith County County Clerks office and I'll bet they can help:
http://www.smith-county.com/government/electedofficials/CountyClerk/Default.aspx
Clint Liles
Clint, you were such a help with our Henderson County interests, can you give me the same information about the surveys I have listed below?
PS - I was recently offered $1,250 an acre for our 1/3 interest in this 767 acres.
Donna,
I'll be glad to get this info for you but it will be simpler to do it by email.
My email address is:
Send your email address
Clint Liles
I am a new member to this forum. I would like to know what is a fair bonus price for 113 acres located between Chandler and Tyler. It is the Robert Sanders Survey, A-914 and the E. D. Holland Survey, A-477, Smith County, Texas. It is near Lindsey Park off of Spur 364. Thanx.
Has anyone heard of an oil and gas development company called South Bend Resources LLC? I received an offer from T2 Land Resources on their behalf offering what I consider an inflated amount to lease my mineral interests in the A H Watkins Survey, A-1055. When I looked them up on line, their website is under construction and it says they were founded just this year. Also, T2 Land listed their address as Scott Avenue in Ft. Worth, which is also the address of South Bend. However, when I googled T@, it shows they are located at a different address in Ft. Worth. All of this has raised a red flag in my mind - anyone have anything to share that might help me?
I have recently been informed that my grandfather has mineral rights in this county and in 1990 signed a lease for a oil company to drill in1990. My grandfather is deceased and my brother and I are next in line. Am I to notify anyone or take any action?
Do not sign a "standard lease."
Make sure your oil and gas lease contains a valid "Cost Free Royalty" clause. Not just any clause will work - if a clause refers to "market value" or "at the well" - it may not do you any good.
The problem is that some court rulings have favored operators in some tricky accounting practices - where the operator's costs of transportation and marketing and other fees are deducted from the royalty. Sometimes the royalty is diminished by half. Search the web on "Heritage Resources, Inc v. NationsBank", a 1996 Texas case that is often cited. A number of good law firms have blogs to explain the legal issues in laymen's terms. The topic category is post-production costs.
JPR check your inbox.
Clint Liles
Merry Christmas and Happy New Year to Everyone.
Clint Liles
The following is a sponsored (paid) promotional notice:
If you own minerals in Texas or New Mexico, consider attending the NARO – Texas convention in San Antonio July 18-20, 2018. They have a great agenda, good speakers, and the cost is reasonable. This year also includes a special session for New Mexico mineral owners. The current agenda draft is attached, and a link to their signup and information page is http://www.naro-us.org/event-2824234
Attachment: 2018-04-30%20-%20NARO-TX%20Convention%20Agenda%20%28Hyatt%29%20invite.pdf