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Lea, NM
Emily and Eric really did a good job guiding us through the process to sell our mineral rights.
They found a buyer quickly, and even though our records were old and scattered, taking longer than usual to document things, they patiently worked with us to complete the sale. They are the best. Ken Flake.
Robertson, TX
Texas Royalty Brokers helped me and my family navigate some tricky inherited minerals. I had great peace of mind using them versus dealing directly with a buyer. Very satisfied experience.
Houston, TX
Texas Royalty Brokers was very helpful to me in evaluating the mineral rights owned by the estate of an old man for whom I am the executor, even though they probably knew very quickly I would not end up as a client.
Stephens, TX
I had the pleasure of working with Texas Royalty Brokers LLC this past month. From the beginning to the very end and everything in between, they were very communicative, responsive and helpful. They explained every part of the process and helped when I needed something. They made the whole process simple and easy. By using Texas Royalty Brokers LLC, I was able to get 2 times the amount I was offered by others or on my own.
Harrison, TX
Eric and Emily are very good at taking care of clients. I found them after researching companies to help me with selling. The reviews I found convinced me to give them an opportunity and I am thankful.
Emily was true to her word from the beginning to the completion. I am so pleased with her that if I choose to sell other property, I will definitely contact her and trust her judgement in my accounts.
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Listing Title
Buy Mineral Rights in Howard County Texas
Listing ID
401142
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 Tuesday, November 8th.
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: $11,250/net royalty acre
- State : Texas
- County : howard
- Legal Location : Block 34, T1N, Section 13 Block 32, T1N, Sections 9 & 16 Block 32, T1N, Sections 41 & 32
- Net Acres : 38.84
- Active Lease : Yes
- Royalty Rate : 25%
- Producing : yes
- Average Income : $8,028/Month
Comments:
Update: 12/22/2022
SOLD
____________________
Update: 11/11/2022
Sale Pending
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This is an opportunity to buy prime acreage right in the heart of Howard County Texas. This acreage is absolutely surrounded by permit activity and also has rigs running around it in every single direction.
There are currently 4 allocation wells, the Lily wells under Ovintiv, that are producing the bulk of the royalty income. These wells are still relatively flush production as they are right around 2 years old. Note that we believe these 4 wells are allocation wells based upon the acreage designation. The owner has an NPRI ownership in these wells.
In addition to these 4 wells, there is also a single horizontal well under SM Energy on 642 acre spacing with 7.5 NRA owned in the unit. This spacing unit alone represents massive upside potential with room to drill at least 5 more horizontal wells in the future.
There are also some old vertical wells being produced on 2 160 acre units that are side by side. There are over 18 net royalty acres here, with no active horizontal wells. Once a new unit is formed to drilled horizontal wells on this acreage, the buyer will realize a large amount of upside.
The royalty checks are currently in the name of Daryl Zapata, who recently passed, and there are three daughter that are heirs to his estate. The ownership may fall under a trust (attached), but all three daughters are on board to sell.
The starting bid price on this acreage is $11,250/net royalty acre, or $436,950 for 38.84 NRA. This means you are getting a 4.5 year pay back on current cash flow AND a massive amount of upside potential as future drilling occurs. If you have been looking for an opportunity to acquire acreage in Howard County with a fair multiple and upside, this is it!
We are estimating a 25% royalty rate, but this is not confirmed. All bids should be based upon 38.84 NRA. Any adjustments to purchase price that reduce the purchase price by 10% or more must be mutually agreeable by both buyer and seller as there is substantial monthly royalty income being generated.
Most up to date listing files at the link below:
We will begin accepting offers on Tuesday, November 8th.
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 11/8/2022