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Trusted by Mineral Owners
San Augustine, TX
I am so grateful for the guidance during the process of selling my mineral rights. This was a huge decision! Eric and his team are top notch professionals, answering any and all concerns/questions along the way. I would definitely recommend Texas Royalty Brokers!
Anderson, TX
I went into the listing and sale of mineral rights knowing nothing! TRB made the process easy. They explained every step of the process with frequent updates and were patient and prompt in answering any questions. I could not have navigated this process without them. I am truly grateful for their help and highly recommend TRB for anyone looking to sell their mineral rights.
Harrison, TX
I dealt with Emily and she did a wonderful job. She did research for me into the value of mineral rights and gave me the option to sell through them or to wait. I choose to hold on to my mineral rights for the time being but had a great experience working with her. I would definitely recommend to anyone needing help with their oil and gas mineral rights to give her a call.
Anderson, TX
They have great communication throughout the whole process. They are thorough in answering questions and are quick to respond. I am very satisfied with the service I received and will use them again.
Loving, TX
My sister and I had inherited some mineral rights from our mother’s estate, and we didn’t know where to begin. Emily and Eric both answered every question, gave us all the guidance we needed and we walked away with an offer/sale that was well above any that had been offered before. I would highly recommend Texas Royalty Brokers!
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Listing Title
Reeves County Texas - Mineral Rights For Sale
Listing ID
401196
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: $4,000,000
- State : Texas
- County : reeves
- Legal Location : C5, Sections 3, 4, 5, 8, 9, & 10
- Net Acres : 177.78
- Active Lease : Yes
- Royalty Rate : 25%
- Producing : yes
- Average Income : $14,175/Month
Comments:
Update: 8/22/2024
Sold
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Update: 7/12/2024
Under Contract
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Update: 6/27/2024
We will be accepting offers on the initial round of bids until July 8th. Please submit your initial bid on or before July 8th.
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This is an exceptionally rare opportunity to buy acreage that has everything positive happening. Deals do not get better than this. Whether you are looking for a cash flow deal, a deal with upside, or a buy and hold deal, this is it.
Below are the important details on this listing:
Rare Unit – This is a very rare unit configuration with a large 3,840 acre unit. The seller has 177.78 NRA, so you get a large amount of acreage setup in an extremely diversified unit that will produce new income for years to come.
20 Active Wells – These wells are generating $14,175/Month in royalty income. These wells are all between 5 years old and 10 years old. This means we are past the initial decline from new production, but the wells still have decades of production remaining for long term income.
10 Completed Wells – There are 10 brand new wells that were just completed in April/May 2024. The seller has not yet received DO’s, and the buyer will receive all royalty income from these 10 new wells.
6 Permitted Wells – There were 6 new permits approved on 5/21/2024. VTX Energy drilled the most recent wells just months after getting permit approval.
Upside Potential – In sections 8/5, there are just 4 wells drilled across both sections. In sections 9/4, there will be a total of 12 wells once the recently completed wells come online. This means that in Sections 8/5, there should be room for an additional 8 wells in the future on top of the permitted wells in Sections 10/3.
We estimate the seller has a total of 177.78 NRA. The lease agreement is attached, which shows a 25% lease with no deductions. This can be verified by looking at the check stubs which show no deductions on the revenue. There is also a depth clause within the lease.
The seller on this property is an individual and he is very easy to work with. He wants to move forward on a sale to simplify his estate and we feel confident he is moving forward on a sale at or above the starting bid price.
The seller has around $16K in past due taxes owed. This is being paid off this week and will be cleared prior to closing.
Important Notes:
- All bids should be based upon 177.78 NRA. Any adjustments greater than 10% of the purchase price will require mutual agreement between buyer and seller.
- Buyer is entitled to receive all royalty income from the 10 completed wells regardless of the effective date.
- The seller has other ownership in Reeves / Ward County. This sale is only for the Waha unit ownership, and nothing else. No land (if owned) would convey.
- A special warranty deed is required.
- A maximum 30 day close is required. Any extensions to be mutually agreeable.
- A $25,000 deposit is required. This deposit is only refundable if a title report / supporting documents are provided which prove a title failure of greater than 10%.
We will start accepting bids on June 26th. Please hold your bid until this date. All buyers will be given an equal opportunity to bid and no deals will be accepted until we open this up for bids and buyers have been given a few days to submit a bid.
To view/download the listing files, please visit the link below:
We will begin accepting offers on Wednesday, June 26th.
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 6/26/2024