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Glasscock, TX
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Listing Title
Washington County Texas Mineral Rights for Sale
Listing ID
401158
Listing Status
not available
- Listing Posted - complete
- Listing Evaluation - complete
- Accepting Offers - complete
- Client Review - tbd
- Best and Final - tbd
- Under Contract - tbd
Please take a moment to learn more about each listing phase.
Listing Maps
Listing Files
Please click the download button below to view the listing files. Listing files include maps, check stubs, and other documentation.
Listing Details
Starting Bid: $112,500
- State : Texas
- County : washington
- Legal Location : Various, please see attached files and maps.
- Net Acres : 23.71
- Active Lease : Yes
- Royalty Rate : 12.5%
- Producing : yes
- Average Income : N/A
Comments:
Update: 6/29/2023 – No longer available for sale.
_______________________________
The owner has mineral rights located in two units within Washington County. These wells are operated by Magnolia who is currently drilling in surrounding areas. Both units have active permits surrounding the properties.
Currently the production from this well and the Bradley unit is very low with minimal income. The owner receives checks every few months.
The bulk of this ownership is in the Sara Beth 1 RE well, where they have a total of 22.85 net royalty acres. We are unsure about the lease rate so we are showing 12.5%.
For the Bradley unit, the seller has just .86 net royalty acres. However, this will likely be drilled on soon.
Please see the attached “Magnolia Letter and Co-Op Agreement”. This letter is addressed to the client’s mother (Shelly Epstein) who has a larger interest than our client. This letter appears to show intent my Magnolia to create a very large unit combining multiple units. They indicate directly that the plan is to drill 8 new wells in the Austin Chalk. Given the low production on the Bradley, it would make sense that this would be drilled soon.
The owner currently has an offer on the table from Magnolia for all of these mineral rights, including the Sara Beth, which shows further evidence that there are likely positive things happening on this acreage in the near future.
The seller, Seth Brand, also has 2 sisters with an identical interest. If the price is right, they may also consider selling as well so this deal could triple in size. The mother may also consider selling, but it is less likely.
The seller would like to start the bidding at $112,500 for the 23.71 net royalty acres.
To view/download the listing files, please visit the link below:
We will begin accepting offers on Tuesday, June 13th.
All buyers are required to either do a 14 day close, make a $5,000 deposit, or sign our qualified buyer agreement once a deal has been verbally agreed upon.
The mineral owner has exclusively listed with Texas Royalty Brokers. Please do not contact the mineral owner directly. To make a bid or ask questions about this listing, please contact Texas Royalty Brokers using the contact form below. Our team will quickly be in touch.
We have other mineral rights for sale.
Exclusitivity Notice
All listings posted at Texas Royalty Brokers are exclusive. The seller has agreed to exclusively sell through our company and will become personally liable if you close a deal directly with the seller. Please direct all offers and communication directly to Texas Royalty Brokers.
Accepting Offers on 6/13/2023