Mineral Rights Question - one for Petros


B00Mer
-1
#1
okay, I have a question about Mineral Rights on a piece of land I purchased a while back.

It is a city lot that happens to sit on top of the Cline Shale basin.. the whole city of Big Spring, Texas sits on top of the Cline Shale Basin.

In Arlington, they are paying out anywhere from $200 to $2000 per month to some land owners..

The City of Big Spring and surrounding cities and raking in the revenue from Oil and Gas..

Cline shale cities's sales tax revenues

November sales tax revenues for a sample of cities in the Cline Shale area:

Big Lake: Up 5.64 percent at $191,149.62

Big Spring: Up 7.65 at $791,497.22

Colorado City: Up 9.93 at $70,793.92

Mertzon: Up 177.56 at $41,322.09

Robert Lee: Down 3.11 at $9,910.45

Roby: Down 9.74 at $2,856.69

Snyder: Up 149.42 at $738,815.15

Sterling City: Up 69.76 at $33,731.74

Sweetwater: Up 11.72 at $299,988.35

Source: Texas Comptrollerís Office

Read more at: Development Corporation of Snyder | News | Snyder sees sales tax increase of close to 150%

The only thing I'm sure of is the lot I purchased for $1000 dollars 4 years ago at an auction is now worth between $20,000 to $50,000... land prices are nuts!!

Workers are living in RV Parks all along I20 by Sweetwater, Big Spring, Midland and Odesa.. It's just crazy! $300 to $500 a month just to park an RV on a dirt patch of ant infested desert.



Howard County, Texas Land for sale, Howard County, Texas Acreage for Sale, Howard County, Texas Lots for Sale at LandWatch.com


Very old picture


Left of Rosemount, South of Wood St. edged against back alley
Last edited by B00Mer; May 25th, 2014 at 03:06 PM..
 
petros
+1
#2  Top Rated Post
Are they being paid royalties or lease income?
 
B00Mer
#3
https://www.google.com/maps/place/11...c369e24fd96ba3

most of the trees have been cleared..

Quote: Originally Posted by petrosView Post

Are they being paid royalties or lease income?

In Arlington, Royalties.

Trying to find out my rights as to royalties for this land.

I was going to sell it, but was told to first check out if I have Royalties coming

I couldn't pass it up at $1000 knowing that Oil and Gas was pushing east.
 
petros
#4
1/8th that's the high side. I should have mentioned earlier.

Is anyone extracting from below the city at present?
 
B00Mer
#5
Quote: Originally Posted by petrosView Post

1/8th

? huh ?
 
petros
#6
6.25% to 12.5% of revenues based on you sq footage of the deposit IF there are no civic or municipal express reserves on the minerals under your property. Check your deed.
 
B00Mer
#7
Quote: Originally Posted by petrosView Post

6.25% to 12.5% of revenues based on you sq footage of the deposit IF there are no civic or municipal express reserves on the minerals under your property. Check your deed.

Thanks will do.
 
petros
#8
I hope it pays. Good luck.
 
captain morgan
#9
Bear in mind that you or the Expl Co. would need to get approval to develop the resources underneath.... Damned unlikely if that property is inside the muni limits
 
petros
#10
Quote: Originally Posted by captain morganView Post

Bear in mind that you or the Expl Co. would need to get approval to develop the resources underneath.... Damned unlikely if that property is inside the muni limits

Urban oil is common in the US and it doesn't kill Indians.

 
B00Mer
+1
#11
In Arlington, Texas they will tear down a house and build a well right next to your house..





Right behind the WalMart... LOL

It's called progress.
 
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