Mineral rights for sale in Leon County

Starting Bid: $2,750,000

• State : Texas
• County : leon
• Legal Location : Multiple locations
• Net Acres : 1,189.3
• Active Lease : No
• Royalty Rate : N/A
• Producing : no
• Average Income : N/A

Comments:

Leon County, Texas – 1,189 Net Royalty Acres 

This listing represents an exceptional opportunity to acquire a large, diversified mineral portfolio spanning multiple abstracts across Leon County, Texas.   The combined position includes approximately 1,189 net royalty acres and more than 4,318 gross acres, situated right next to the new Comstock wells in Leon.

Legal Locations

The minerals are spread across nine surveys, providing both scale and geographic diversity. The M.B. Smith and G.W. Patrick Surveys (A-815 and A-675) include 198.10 gross acres with 29.17 NRA, while the A.W. Cooke Survey (A-159) covers 383 gross acres with 168.34 NRA. In the Pedro Pereire Jose De Jesus and Mariano Grande League and M.L. Kinnard Surveys (A-17 and A-469), the ownership extends across 810.70 gross acres with 469.95 NRA. Additional holdings include the H.A. Law Survey (A-488) with 243.16 gross and 15.92 NRA, and the J.W. Hallett and W.G. Lee Surveys (A-342 and A-1318) totaling 1,041.44 gross acres with 370.81 NRA.

Further tracts include 187 gross acres with 1.73 NRA in the R.K. Manning Survey (A-569), and 101.14 gross acres with 43.71 NRA across the T.C.R.R. Company and John Smith Surveys (A-1318 and A-864). The Leroy Boulware and David Wilson Surveys (A-120, A-121, and A-906) add 229.46 gross acres with 41.30 NRA, while the Jefferson Reed, Charles Lynenburg, and F.M. Davis Surveys (A-749, A-492, and A-1287) contribute 1,124.50 gross acres and 48.37 NRA.

Comstock Wells

If you have been watching the activity in Leon County, TX, you are well aware of the new wells Comstock has been drilling in the area.  Right next door to this acreage, Comstock has drilled the Lanier CW 1H (API – 4228932181).  This well has been producing for 24 months and has generated over 14MMcf.  At $3 gas, this well alone has generated over $42MM.  Comstock then drilled 3 more wells just next door that have generated 5MM to 7MM MCF.

Our clients acreage sits just South and just East of this acreage.

Leasing Activity

In the map files provided, we created a very rough outline (in blue) of the area where our client has ownership.  They do not own within this entire blue area, but this gives you an idea of where our clients acreage sits.    This map shows all the leasing activity in Leon County within the last 3 years.  Comstock has been very active in leasing this area and has leased within the area where our client has ownership.

All of this ownership is currently unleased giving the buyer an opportunity to negotiate their own lease with favorable terms.   In addition, leasing activity can generate a near term ROI prior to drilling taking place.

Title, Ownership, and Conveyance

Seller will provide runsheets and corresponding documents to the buyer but it will be up to them to confirm their own title and anything provided is for information purposes only.

In the attached spreadsheet, we have provided the number of net royalty acres that will convey.  However, it in the intent of the seller to convey 1/3 of their overall ownership, being 1,189.30 net royalty acres.  Any adjustments to the purchase price over 10% must be mutually agreeable.

Both buyer and seller will work together on a mutually acceptable mineral deed.  The seller would prefer to put together the deed.    We can include this as an exhibit to the PSA.  The conveyance will specify a sale of 1/3.

Starting Bid

The starting bid for this ownership is $2,750,000, or $2,312/net royalty acre.

This Leon County mineral package represents a unique opportunity for investors seeking scale, diversification, and long-term potential in mineral ownership.  The seller has spent years acquiring acreage in this location providing the buyer with a unique opportunity to buy acreage right next door to the biggest wells in Leon County.

For this listing, we are requiring the following:

1. 1. Special Warranty Deed
   2. 30 Day Close
   3. Any adjustment greater than 10% to the purchase price must be mutually agreeable.  
   4. 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.  
   5. 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, November 4th. 

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.