Buy mineral rights in Gregg County Texas

Starting Bid: $325,000

• State : Texas
• County : gregg
• Legal Location : Multiple locations: A-173, A-219, A-68
• Net Acres : N/A
• Active Lease : Yes
• Royalty Rate : 12.5%
• Producing : yes
• Average Income : $5,388/Month

Comments:

Here is a great opportunity to purchase mineral rights with excellent cashflow in Gregg County, Texas.

Our client owns mineral rights in her father’s estate in multiple units.  We are not representing an estimated NRA in this listing, but are listing the  NDI on which our client is in pay. The unit breakdown is as follows:

CB Parker Unit:

Our client is in pay on an NDI of 0.20 in this unit.  There is one 10.5 year old vertical well on 40 acre spacing.

Lena Gaines Unit: 

There is one vertical well in this unit and our client is in pay on an NDI of 0.0625 in this unit.

Vivian Parker Unit: 

There is one vertical well in this unit and our client is in pay on an NDI of 0.125.

EL Dr. Walker Gas Unit: 

Our client is in pay on an NDI of 0.022051 in this unit and there is one vertical well.

These units have established vertical oil and gas wells producing an average of $5,388/Month from 3 operators.

Additional Notes:

***This listing is priced as a cashflow opportunity, all bids should be placed on cashflow value and NDI represented in the check stubs. No adjustments to the purchase price unless mutually agreeable. 

***Our client may have mineral rights outside of the represented units in this listing. Only the acreage within the producing units conveys.  Any unleased acreage not included in the producing units does not convey.  

**Past Due Taxes –   The seller is aware that there are past due taxes related to these mineral rights.  These taxes are related to 2024 so they are not very behind.  The amount owed is around $3,897.  At closing, the buyer will pay off the taxes out of the amount due to the seller.   We have attached the past due amount in the attached images.

For this listing, we are requiring the following:

1. 1. Special Warranty Deed
   2. 30 Day Close
   3. No adjustments to the purchase price unless mutually agreeable. 
   4. No ownership outside of the represented units will convey in this sale. No unleased acreage will convey in this sale.  
   5. Buyer to pay off past due taxes out of seller proceeds at closing
   6. 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.   
   7. 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 Tuesday, May 13th.

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.

We have other mineral rights for sale.