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Listing Title
Mineral Rights for Sale in Howard County Texas
Listing ID
401141
Listing Status
sold
- Listing Posted - complete
- Listing Evaluation - complete
- Accepting Offers - complete
- Client Review - complete
- Best and Final - complete
- Under Contract - complete
Please take a moment to learn more about each listing phase.
We are currently in the listing evaluation phase for these mineral rights. We will begin accepting offers on Wednesday, October 26th.
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: $5,750/net royalty acre
- State : Texas
- County : howard
- Legal Location : Block 34, T1S, Abstract 423, Abstract 1256, and Abstract 1258.
- Net Acres : 48.89
- Active Lease : Yes
- Royalty Rate : 12.5%
- Producing : yes
- Average Income : $870/Month
Comments:
Update: 11/21/2022 – Mineral rights have been sold.
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Update: 11/2/2022 – Under Contract
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Best and final offers due end of day on Tuesday, November 1st.
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Accepting offers until end of day, Friday, October 28th.
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If you are looking for a nice size acreage position in Howard County Texas with huge upside, this listing is a good opportunity.
These mineral rights are currently generating an average of $870/month in royalty income. There are a few vertical wells and only a single horizontal well. Oxy has two rigs running right next door to this acreage. When a permit is filed on this acreage, the value of this ownership will increase dramatically before they even drill a well.
We estimate the owner has between 30.24 and 48.89 net royalty acres. We feel confident in the 18.61 NRA in the Lela Bell. However, it is unclear how much acreage is owned in the Tidwell / Adkins Tidwell units. We are representing a total of 48.89 net royalty acres, but we feel the actual ownership could be lower around 30 NRA. Ultimately title will need to prove out the ownership.
Note: The data in the tax rolls for this owner appears to be incorrect. They are showing him with double the ownership in the Lela Bell, and a higher NDI in the Tidwell wells. We are using the check stubs attached as the basis for the calculation.
All offers should be on a per net royalty acre basis. The seller would like to start negotiations at $5,750 / net royalty acre. The contract should be written assuming 48.89 with the price adjusting higher or lower based on how many acres are proven in title.
This seller also has ownership in the same tracts via the Bonita G Wrather Trust. The seller does not wish to sell that ownership at this time. The ownership does not perfectly overlap this ownership and has a different NDI.
The mineral deed must be specific to ownership by Christopher Wrather individually only. The mineral deed must specify that no ownership from the Bonita Trust is being conveyed and must specify the NDI as listed on the check stubs for Christopher Wrather only as what is being conveyed. It is also possible that the owner has other mineral rights in Howard that are unknown. The deed needs to specific to A-423, A-1256, & A-1258.
Alternative download link:
We will begin accepting offers on Wednesday, October 26th.
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 10/26/2022