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Listing Title
Dimmit County Texas Mineral Rights for Sale
Listing ID
401160
Listing Status
sold
- Listing Posted - complete
- Listing Evaluation - complete
- Accepting Offers - complete
- Client Review - complete
- Best and Final - complete
- Under Contract - in progress
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: $115,000
- State : Texas
- County : dimmit
- Legal Location : Various, please see attached files and maps.
- Net Acres : 56.6
- Active Lease : Yes
- Royalty Rate : 20%
- Producing : yes
- Average Income : $1,078/Month
Comments:
Update: 9/15/2023
Sold
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Update: 8/22/2023
Sale Pending
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Update: 8/8/2023
We have updated the listing with the latest check stub information, an updated revenue summary, and a chart showing the production from the JIC #1 well. The production has declined from when we originally posted this listing, so we have updated the royalty income on this accordingly.
The asking price has been reduced from $140K to $115K.
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Update: 7/21/2023
Large 25% price reduction from $185K to $140K on this listing.
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This is an opportunity to buy mineral rights in Dimmit County Texas. There are 56.6 net mineral acres with a 20% lease. These mineral rights are currently producing around $2,180/Month. There are two operators, CML and Contango.
The JIC #1 well is a relatively new well. We used the average income from the first 6 months of 2023 to come up with the average number, as we only have two check stubs available.
There is a new “JIC Buda” well that appears to be in the same unit as the JIC well. However, the seller has contacted the operator who has told them they are NOT included in this well. This JIC Buda well doesn’t appear to be an allocation well or a PSA well, so we are not sure the reason why the seller wouldn’t be included on that particular well. The seller has asked for clarification on why, but so far we have not gotten a response from the operator.
The Huffman unit well appears to overlap the JIC unit. The owner has a different NRI here, but we believe this ownership to be overlapping the JIC unit. We are using the larger NMA calculation from the Huffman unit, and it appears there is less acreage that fell into the JIC unit.
The seller would like to start the bidding at $185,500. The seller does have offers on the table here in the ball park of the starting bid price.
A family member has an identical interest, and if the pricing is right, they may consider a sale also meaning this deal could double in size.
To view/download the listing files, please visit the link below:
We will begin accepting offers on Monday, July 17th.
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 7/17/2023