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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
Purchase Minerals in San Augustine County Texas
Listing ID
401129
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.
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.
Listing Maps
Listing Files
To view the available files for this listing, please download the zip file using the button below.
Listing Details
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:
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:
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.
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 6/21/2022