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Leon, TX
I had no idea how straightforward and very simple it would be to sell mineral rights in Texas. Texas Royalty Brokers, represented by Eric Winegar provided guidance on the complete process. Confirming exactly how the TRB website described each step of the sales process. Eric and his staff followed up immediately on every question I presented. I had limited information about the value of the mineral rights prior to the final offer presented which exceeded my expectations. Working with TRB, I became educated about the process of selling mineral rights and convinced me I would never try to sell without having the representation offered by Texas Royalty Brokers.
Midland, TX
I had an excellent experience working with Eric Winegar at Texas Royalty Brokers. Eric was professional, knowledgeable, and responsive. He clearly explained every step and made the process easy and stress-free. His attention to detail and commitment to getting the best outcome for me exceeded my expectations. I highly recommend Eric and Texas Royalty Brokers to anyone needing trustworthy royalty services.
Leon, TX
Texas Royalty Brokers did Everything they said they would do. They communicated often, they always answered my questions quickly and I had a lot of questions.
Very professional company. They negotiated a very good price for my mineral rights.
I would recommend them highly.
Winkler, TX
I had an excellent experience with Eric Winegar and Texas Royalty. I found him to be very knowledgeable about big and small aspects of the industry and of my particular situation. He also was very timely in communications. I highly recommend them based on my experience.
Pecos, TX
I had a very good experience working with Eric and his team. Eric was very professional and due to his knowledge added a lot of insight into helping me sell my mineral interests. I was kept well informed on a weekly basis and once there was a buyer, Eric continued to help me understand the process. From the start to the finish, during the entire process I wasn’t ever disappointed. Eric has a great deal of experience and knowledge of mineral values and he also has many connections in the industry. If you are interested in selling minerals you own, I highly recommend you contact Eric and the good folks at 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