Mineral rights for sale in Robertson County

Starting Bid: $1,345,480

• State : Texas
• County : robertson
• Legal Location : A-25
• Net Acres : 336.37
• Active Lease : Yes
• Royalty Rate : 22.5%
• Producing : yes
• Average Income : $100/Month

Comments:

Robertson County, Texas – 336.37  Net Royalty Acres

This is an exceptional opportunity pick up a large acreage position in Robertson County.  This ownership is right next to the border of Leon County, and within 2 to 3 miles of the Jennings wells drilled by Comstock.

There are 242.3 net royalty acres currently held by production by a single vertical well under Diversified.  This acreage sits just 3 miles East of the new Comstock Jennings wells.

Our client has an additional 188.21 net royalty acres that is currently leased by Comstock.  They are selling 50% of this ownership or 94.1 net royalty acres.  This acreage sits just 2 miles North of the Jennings wells.

At just $4,000/net royalty acre, this is a rare opportunity to pick up a large acreage position sitting at the doorstep of the biggest wells being drilled in Robertson County and Leon County.

Producing Acreage – 242.3 Net Royalty Acres

The seller has a total of 242.3 net royalty acres spread across 3 units.   The vast majority of this ownership is in the Manzikert unit under Diversified.  The seller has a total of 229.68 net royalty acres in this unit.  With just a single vertical well producing and Comstock drilling exceptional wells just East of this location, this acreage will provide huge upside in the future.   The royalty income being generated at this time is nominal at only around $2,000 in 2025 and $1,500 in 2024.

To the Northwest, there are two additional units currently producing.  The Mary King and Emma Reagan, both operated by Hilcorp.  These produce effectively no income and they are very small units.  Combined, these two units provide another 12.6 net royalty acres in this area.

Leased Acreage – 94.1 Net Royalty Acres (Selling 50%)

The original owner of this acreage leased to Comstock in 2022 for $650/net mineral acre at a 22.5% lease rate.  This was a 3 year lease with a 2 year option to extend.  The owner (our client’s Grandfather) subsequently gifted these mineral rights to our client.   Our client just received the lease bonus extension in October 2025 for $67,966.60 to renew this lease for an additional 2 years.  This lease extension shows Comstock’s commitment to move forward with drilling on this acreage.

If you look at the attached “Comstock – Lease Ratification” document, you will see that the lease includes 104.56 total acres.   With the lease bonus being $650/net mineral acre, this works out to within a couple dollars of the lease bonus extension that was just paid to our client.  This gives us confidence that the seller has the full 104.56 net mineral acres leased at 22.5%, giving them 188.21 net royalty acres.  Since they are selling 50%, this means the sale will include 94.1 net royalty acres of ownership lease to Comstock.

The location of this 104.56 acres is split.   There are 6.52 NMA sitting Northeast of the Manzikert unit and just West of the Comstock Jennings wells.   The remainder of the acreage, being 98.04 NMA, is sitting 2 miles due North of the Comstock Jennings Wells.    Please see the attached “Erwin Reagan Surface Ownership” map.  This shows a total of 98.01 NMA and matches the lease by Comstock pretty closely.  In addition, this map appears to show the same volume and page numbers referenced in the Comstock lease.  We feel this the correct location of the lease acreage, but it will be up to the buyer to determine via title.

With no active production in this area and a recent lease bonus extension to retain this lease, we believe this points to Comstock taking action at some point over the next two years to get this acreage HBP.

Comstock Wells

If you have been watching the activity in Leon County, TX, you are well aware of the new wells Comstock has been drilling in the area.  Comstock has drilled the Lanier CW 1H (API – 4228932181).  This well has been producing for 24 months and has generated over 14MMcf.  At $3 gas, this well alone has generated over $42MM.  Comstock then drilled 3 more wells just next door that have generated 5MM to 7MM MCF.

The Jennings wells, which are closest to this acreage, have only been producing for 4 months so we have limited data.  However, during that time these wells have produced 1,971,531 and 2,923,454 Mcf and generated between $5.9MM and $8.7MM respectively in just 4 months time.   This assumes $3/Mcf gas, with gas currently sitting north of $4/Mcf.

Ownership Information

Our client was gifted these mineral rights from his Grandfather.  Our clients Grandfather was Erwin Reagan.  We have pulled some prior leases and deeds related to Erwin Reagan and included them within the files.  It appears there is a pretty clear chain of title going back, but it spans a number of different legal locations.  He inherited from his parents who appeared to have a lot of ownership within this abstract.

Our client’s grandfather intends to convey all oil and gas ownership in Robertson County to our client.   An attorney is currently preparing a correcting deed to convey all ownership within the county so any other ownership that falls under Erwin Reagan will be our clients ownership.  We have requested that our client not file this deed until the buyer has reviewed it to ensure it doesn’t create any issues.

Note:  Our client is not in pay on the producing acreage at this time, but is in the process of getting it switched over with the operator.

Additional Ownership Possible

In researching our clients ownership, and the ownership held by Erwin Reagan, we believe there is other non-leased / non-producing acreage that falls in this area.  We are not making any representations about how much acreage it is or a specific location.  This acreage will not be part of the sale.  Only the Comstock lease and the currently producing units are a part of the sale.    However, for the right price, our client may consider selling some or all of any other ownership the buyer locates while running title.

Closing Requirements

For tax reasons, our client is going to require this sale to be split into two closings.  The first closing will be for the sale of 50% of the Comstock acreage.   This portion of the sale will close in 2025.   The producing acreage portion of the sale will close at the start of 2026.

This will provide our client with substantial tax savings and is a non-negotiable part of of the transaction.  Please note:  Even if you have the highest bid, if you cannot split the closing in this way, our client will be moving forward with a different offer.

For this listing, are accepting offers immediately.  Our client has an existing offer on the table from a reputable and high quality buyer.  If no higher bid are received prior to 11/14/2025, they will move forward with this offer.  In addition, they have received other bids

Closing Timeline & Starting Bid

For this listing, are accepting offers immediately.  Our client has an existing offer on the table from a reputable and high quality buyer.  If no higher bids are received prior to 11/14/2025, they will move forward with this offer.  They have additional backup offers already secured, so if the closing terms and price are not met, they will simply accept their previous offer.

The starting bid for this ownership is $4,000/net royalty acre, or $1,345,480.

For this listing, we are requiring the following:

1. 1. Special Warranty Deed
   2. 30 Day Close
   3. The sale of 50% of the leased Comstock acreage must be closed in 2025, with the remaining producing acreage closed at the start of 2026.  No exceptions allowed. 
   4. Any adjustment greater than 10% to the purchase price must be mutually agreeable.  
   5. Our closing process included in the PSA, which is:   At closing, buyer will provide the mineral deed.  The seller will execute the mineral deed and return it to Texas Royalty Brokers.  Texas Royalty Brokers will provide buyer with a scanned copy of the deed, and buyer will then wire funds to seller and Texas Royalty Brokers respectively.  Once funds are confirmed, Texas Royalty Brokers will overnight the deed to the Buyer.  
   6. Buyer must close within 14 days or sign our qualified buyer agreement.

To view/download the listing files, please visit the link below:

Download Files

We will begin accepting offers on Thursday, November 6th. 

All buyers are required to either do a 14 day close or sign our qualified buyer agreement once a deal has been verbally agreed upon.  In certain situations, we may require a $25,000 earnest deposit at the sole discretion of Texas Royalty Brokers.

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.

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