Midland County Texas - Buy Mineral Rights

Starting Bid: $133,500

• State : Texas
• County : midland
• Legal Location : Multiple locations
• Net Acres : N/A
• Active Lease : Yes
• Royalty Rate : 12.5%
• Producing : yes
• Average Income : $1,722/Month

Comments:

Update 9/25/2024:

This listing is no longer available

_______________________

This is a great opportunity to buy in Midland County, Texas in a very active area.

The seller owns mineral rights in Midland, Texas in the Sally unit with additional income from some Frank Sally wells that fall into the Sally unit.  He wishes to sell 50% of his mineral rights.

Per our clients check stubs, he is in pay on 24 wells.  15 of the 24 wells are in flush production and 9 are greater than 6 years old.  There are 2 active permits in the units, which are the Sally W26P 16H and Sally W26Q 17H wells.

Due to the flush production on this acreage, we are representing the royalty income as his most recent check in July at $3,444.  Since the owner is selling 50%, we are showing $1,722/month in current royalty income.

We are not representing an NRA amount in this listing.  The reason is that there are multiple allocation wells.  We do not feel comfortable representing any specific NRA and all bids should be based upon the NDI on the check stubs.

This property would present good income for a buyer as well as potential upside as new wells come online.

The seller is firm on pricing.

Important Notes:

• We believe our client has other ownership within Midland county.  This listing is specific to what is on the check stubs.  We are only conveying ownership that is on our client’s check stubs and the NDIs represented on his check stubs.  The owner is selling 50% of what is represented on the check stubs.
• Our client wishes to withhold any future inheritance that may or may not occur in the future and not convey that in this sale.  This language will be added into the deed at the time of closing.

For this listing, we are requiring the following:

1. Special Warranty Deed
2. Deed must be specific to the acreage on the check stubs and must not convey any future inheritance and be specific to what he owns and is in pay on today.
3. 30 Day Close
4. There are no adjustments allowed unless you prove less NDI than what the seller is currently in pay on, and buyer and seller mutually agree.  If a lower NDI is proven in title, only the NDI proven in title would convey, and the seller would retain any NDI not proven in title
5. 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.   
6. Buyer must close within 14 days or sign our qualified buyer agreement.

We will begin accepting offers on Tuesday, September 3rd.

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

Download Files

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 $5,000 to $10,000 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.