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Listing Title
Howard County Texas - Mineral Rights For Sale
Listing ID
401188
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.
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: $475,000
- State : Texas
- County : howard
- Legal Location : Howard County, Block 34 T1S, Abstract 423
- Net Acres : 45.25
- Active Lease : Yes
- Royalty Rate : 12.5%
- Producing : yes
- Average Income : $620/Month
Comments:
Update: 6/7/2024
Sold
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Update: 4/29/2024
Under Contract
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Update: 4/23/2024
Best and final offers due on Friday, April 26th.
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This property is located in a very active area of Howard County and is owned by a trust, we have provided the ownership breakdown below. The combined average monthly royalty income is $620/Month.
We believe the these owners have 45.25 NRA in this 480 acre unit. We have listed this excellent property at just under $10,500/NRA.
The 4 vertical wells in this property are located in the Tidwell unit with 480 acre spacing, leaving plenty of room for additional new horizontal wells.
Please note, there is an Adkins Tidwell horizontal well running through the 480 unit. We believe this is an allocation well, in which the trust does not have ownership. We also see some discrepancy in the tax roll vs the owners’ check stubs. We are basing NRA off of what is represented in the check stubs.
Trust ownership breakdown:
B. G. Wrather Revocable Trust fbo Christopher Wrather: 36%
B. G. Wrather Revocable Trust fbo Linda Wrather Finocchiaro, controlled by Christopher Wrather: 36%
B. G. Wrather Revocable Trust fbo Molly Dolle (deceased): 24% whose assets have now been distributed to Molly’s children (6% each)
B. G. Wrather Revocable Trust fbo Jason Wrather (deceased): 4%. These are now owned by Jason’s daughter Penelope Wrather.
Important: There are just two entities that own 72% of this, and one individual has signature authority over the 72%. The remaining acreage is split between 5 different owners. While all family members wish to sell, the 28% portion involves multiple parties.
All bids should be based upon the attached estimated NRA. If less NRA is proven in title, only the NRA proven in title would convey. Any adjustment over 10%, on a tract by tract basis, must be mutually agreeable.
To view/download the listing files, please visit the link below:
We will begin accepting offers on Tuesday, April 16th.
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 4/16/2024