Known Minerals in Fannin County?

[dukemontrose]

All---thanks you for your comments. You've been very helpful. My wife and I will procee with the sale, the mineral rights issue notwithstanding. My sense is that we will own the mineral rights with this transaction, and at some point in time in the future, we might hire a landman to confirm this just for the heck of it. I'll keep you guys posted :-)


Love2Read---understood. I merely meant that I would talk to the oil/gas leasing co and see if the mineral rights in the County might be worth anything based on their current knowledge. Thanks.

Duke

[austinnetx]

Originally Posted by loves2read

ok--this is my take--
no one thought the Barnett Shale leases were worth persuing until about 6 years ago and people thought land they bought did not have minerals that would interfere with their living arrangements--bought the land but not the minerals--?

Not true.

The Barnett Shale was known to contain large amounts of Natural Gas since the 19th century. But it was too thin to get at economically. It was not until the 1980s with the advent of horizontal drilling and pressure multipliers that it could be recovered economically. Furthermore, The Barnett Shale is a caprock sealing in oil and gas and was the source of many small wells prior to the 1980s.

The rocks under Fannin and Hunt counties do not contain gas nor oil at all. In fact, most of the rocks underlying the Blackland area are non producers.

Barnett Shale - Wikipedia, the free encyclopedia

[austinnetx]

Originally Posted by loves2read

At least two operators are planning remote shale tests in the extreme eastern (non-producing) part of Bryan County Oklahoma within 3-10 miles north of the border with non-producing Fannin County, Texas. Additional companies have recently initiated E&D programs in the greater Ardmore Basin region.

?

The geology rapidly changes in N Fannin County where it joins the Red River watershed.

[loves2read]

I meant to say that people who bought the land w/o mineral rights thought there was no/little interest in drilling--since (as you say) at that point in time the NG price made recovery not cost efficient due to the depth and horizontal nature of the drilling
Trevor Rees Jones did his leasing on the anticipation of rising gas prices...and improved technology and he was right on both accounts

[austinnetx]

Originally Posted by loves2read

I meant to say that people who bought the land w/o mineral rights thought there was no/little interest in drilling--since (as you say) at that point in time the NG price made recovery not cost efficient due to the depth and horizontal nature of the drilling
Trevor Rees Jones did his leasing on the anticipation of rising gas prices...and improved technology and he was right on both accounts

So did T Boone Pickens and he was wrong and lost a lot of money.

This time it looks like he will be right, now that they are building the transmission grids.

[Terri Rijos]

Mineral rights automatically transfer to the new owner at the time of closing, unless the current owner retains them. The only way to find out if you own the mineral rights is to hire a "Land Man", that's what they do for a living. don't know the cost, but, if there was ever drilling in your area, the oil/gas companies do a search, and you'd definitely get a letter in the mail offering to lease your rights.