Purchase Minerals in San Augustine County Texas

Starting Bid: $225,000

• State : Texas
• County : san-augustine
• Legal Location : Various, please see the attached wells table and associated maps.
• Net Acres : 24.42
• Active Lease : Yes
• Royalty Rate : 12.5%
• Producing : yes
• Average Income : $695/month

Comments:

Update: 8/1/2022

Sold

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Update:  6/29/2022

Sale Pending

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If you are looking for solid royalty income from gas production this is an excellent opportunity with huge near term upside.  The seller is currently receiving almost $700/month in royalty income.   The bulk of this income is being generated from just 2.9 acres on the La Salle unit.

The upside is in the Oglesbee unit.  We estimate they have 19.19 NRA in this unit and there are currently 4 new wells that will be coming online.   There are 2 wells in DUC status, one well currently drilling, and 1 permitted well that will likely get drilled after the current well being drilled is finished.  With high gas prices, these will likely be completed and put online in the near future meaning great upside potential for the mineral buyer.

Note:  This new unit being drilled on is a larger 1,313/acre unit which looks like it encompasses the original Oglesbee unit.  You can see this on the included Baret Oglesbee permits.

There are some smaller units also included giving further upside for the buyer.

For title, the seller listed on the check stubs (Veda Bobbitt) is deceased.  Payment from the operator has been going into a checking account for Veda, and then distributed via check to her 3 children.  An affidavit of heirship has been filed naming her children as the successors.   All three children are on the same page about selling.  To our knowledge, probate has not been done on the estate.  The buyer will be responsible for creating the deeds and all three children can sign individual deeds for their 1/3 or a single deed transferring ownership from Veda to the buyer can be done.   The sellers would like 3 separate wire transfers for each heir.   The listed starting bid is for 100% of Veda’s ownership and the 3 heirs will split the total.

All bids should be based on the NDI listed on the check stubs from Aethon.  We have provided our estimated calculation of NRA, but the bids should be based upon the NDI’s they are being paid on.

Note:  The seller (Veda) has other interests in the same county.  These are all very small fraction of an acre types of ownership.  We do not have any documentation on this ownership as it’s not part of the sale and too small to be marketable.  The final deeds will need to be specific to the tracts listed on the Aethon check stubs as those are the only interests being sold.

We are showing a small amount ($25) in property taxes owed:

Property Taxes

Left hand side, select “Property tax search”, then search property tax by owner name and enter “bobbitt veda”

Files are available for download above.  Alternative download:

Download Files

These mineral rights will be in the evaluation phase until Tuesday, June 21st.   No bids will be considered until we are accepting offers on June 21st.

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.