Buy Mineral Rights in San Augustine County Texas

Starting Bid: $210,000

• State : Texas
• County : san-augustine
• Legal Location : Multiple - Please see attached files.
• Net Acres : 24.12
• Active Lease : Yes
• Royalty Rate : 20%
• Producing : yes
• Average Income : N/A

Comments:

Update:  7/26/2023

SOLD

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Update: 5/18/2023

Under Contract

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Update:  5/16/2023

Initial bids due 5/17/2023, end of day.

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There are a few moving parts on this listing.  Please check the map attached at the top where we have highlighted the different abstracts where this seller has ownership.

This listing is based on both leased and non-leased ownership.

In 2021, the seller leased 13.48 NMA in A-77 and A-194.   We have highlighted these sections in blue on the map.   This lease is attached and is at 20%.    We are not sure the split on how many NMA are in A-77 vs A-194.

In addition, we believe the seller also has 10.64 NMA that are unleased in A-231.  This is also highlighted in blue on the map.  However, the seller has been offered a lease at $1,000/acre for a 25% lease on this acreage.  The offer to lease also indicates that a permit may be filed very soon with intent to drill soon as well.  Please contact us for more details on this.  The seller is not going to accept the lease and will allow the buyer to negotiate their own lease and collect the lease bonus payment.

Important:  The asking price on this package is for the above acreage.  Both the non-leased and leased acreage in those 3 abstracts as a package deal.    Adjustments are allowed based on how many NMA title proves out, however, if less NMA are owned you will need to provide a deed with a specific number of net mineral acres to convey.

We believe this seller may also own additional acreage in San Augustine.  In 2022, the seller sold some mineral rights to the Alexander unit.  The deed that was filed appears to show multiple legal locations in A-220, A-103, A-88, and A-192.   However, if you look at the top of Exhibit A, the deed states that the sale is “limited to the interest located within the Comstock Alexander Unit”.  In our opinion, this means the conveyance only covered A-88 (part of the Alexander unit) and the seller may still have ownership in A-220, A-103, and A-192.  These are highlighted in black on the map.  We assume this acreage to be unleased and we do not have an estimate on how many NMA they own, if any, in these locations.    The seller is open to sell any ownership he has in these locations as well.  Once title is complete, this portion of the sale would be negotiable.

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

Download Files

We will begin accepting offers on Monday, May 15th

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.