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Client Reviews
La Salle, TX
They were so Great… always up front, they did all the work and we got a very fair price… Didn’t have to bother with all the calls of other brokers with bait and switch offers. TRB are the Only way to sell your royalties and get a fair price.
Reeves, TX
My experience with Texas Royalty Brokers was excellent. Communication at every step in the process was maintained. The price received for the royalties exceeded our expectations. The entire process was completed in six weeks. I’d recommend Texas Royalty Brokers to anyone that considers selling.
Harrison, TX
Texas Royalty Brokers was easy to work with and were able to answer all of our questions quickly. We had a pleasant experience working with them.
Howard, TX
Working with Eric Winegar was a wonderful experience. He was always available to answer questions and helped get us to our closing quickly. I would definitely work with him again.
Ector, TX
I have had several correspondences over the recent past with Eric. Five stars is simply not enough! Navigating and trying to understand the mineral interests I inherited has been daunting, and further crazy with offers of purchase. Not knowing what to do or what to expect, I reached out to Texas Royalty Brokers and fortunately Eric responded to my inquiries. Has has been informative, up front, he has researched and quite honestly, has gone way above and beyond any expectations I had. Thank you, Eric!
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Listing Title
Reeves County Texas Mineral Rights for Sale
Listing ID
401166
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: $175,000
- State : Texas
- County : reeves
- Legal Location : Lots 9 and 16, Section 18, Block 55, T4S
- Net Acres : 10
- Active Lease : Yes
- Royalty Rate : 12.5%
- Producing : yes
- Average Income : $3,233/Month
Comments:
Update: 12/15/2023
Sold
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Update: 11/21/2023
Under Contract
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Update: 11/17/2023
Best and Final bids are due by end of day on Tuesday, November 21st.
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Update: 11/14/2023
All bids due by Friday, November 17th at Noon.
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Important: Acreage is mineral classified status.
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This is an opportunity to buy some nice PDP acreage in Reeves County Texas.
The Laramie wells are operated by Andarko/Oxy, and represent the bulk of the royalty income. A number of wells were drilled in April 2021. The owner is also being paid for the Wendy State by Devon. The Wendy State ownership overlaps with the Laramie State wells.
This acreage is mineral classified, and the seller has a total of 10 net mineral acres / net royalty acres. Due to this being mineral classified, the land would also be included in the sale as required by law.
According to DI, we are showing another potential well, the Laramie State 22H, which is in drilled status. We can’t confirm whether this is an additional well that was actually drilled or whether DI is just showing incorrect information. If that well is drilled, this represents additional upside for this ownership.
This seller also has some additional ownership in Reeves County, the Johnny Ryall wells under Conoco, which are not included in the sale. The seller is unlikely to sell this acreage as they want to hold onto it for now, but you are of course welcome to throw out an offer for that portion. The average income for the Ryall wells is $6,500/month.
The starting bid price on this acreage is $175,000. This represents just a 4.5 year pay back. While the wells are still somewhat flush production, you also get the surface included on the sale.
All bids should be based upon the cash flow value. No adjustments will be allowed if more or less acreage is owned. This ownership seems pretty clear cut at 10 NMA/NRA.
To view/download the listing files, please visit the link below:
We will begin accepting offers on Tuesday, November 14th.
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 11/14/2023