Buy Mineral Rights in Martin County Texas

Starting Bid: $1,275,000

• State : Texas
• County : martin
• Legal Location : Block 35 T2N, Section 32 and 33
• Net Acres : 32
• Active Lease : Yes
• Royalty Rate : 12.5%
• Producing : yes
• Average Income : $25,800/Month

Comments:

Update:  2/10/2023

After having a discussion with their landman, the seller now feels the interest is worth greater than $2.4MM and is no longer interested in selling at this time.  They have decided to pull the listing and see what happens on this acreage in the future.

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This is an opportunity to buy excellent cash flow in the absolute heart of Martin County Texas.

There are over 30 wells currently producing with royalty income being generated from both XTO and Scout.  The acreage from XTO and Scout is in the same location.  We have attached an ownership estimate that shows 32 net royalty acres.  We did not include the Scout acreage in the calculation because this acreage is in the same place as XTO so we believe this is 32 NRA total.

If you look at the most recent check stub from XTO, you will note that some of the Mims wells had a very large month over month decline. It appears these wells well choked back or shut in temporarily.  If you look at the past production, this has happened a few times for just a month or two and then production ramps back up.   We believe the lower January check is temporary and it will likely go back up again as those wells go back to full production as they have in the past.

The starting bid price for both XTO and Scout combined as a package is $1,275,000.   We are aware that the Norris wells are still relatively flush production right now.  If you are not able to meet the starting bid price, please feel free to submit your best offer and the seller will take it into consideration.

While we estimate 32 NRA, we are not making any representations as to the number of NRA owned.  We believe this acreage is effectively a cash flow deal, and as such, all bids should be made on a cash flow basis.  Any adjustments at closing would have to be mutually agreeable and no adjustments will be allowed based on how many acres are owned.

Note:  The seller may also be the surface owner as well. This sale is for oil and gas mineral rights only.

To view/download the listing files, please visit the link below:

Download Files

We will begin accepting offers on Monday, February 6th.

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.