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Question about mineral rights
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<blockquote data-quote="backhoeboogie" data-source="post: 1183622" data-attributes="member: 3162"><p>I'm telling you! We were all excited back in '80. They punched a well about 1/4 mile from the house. Dry hole quelled our excitement. They went through Barnette Shale. Many folks sold land. We all thought there was no need in retaining minerals. No one bothered. Now you can lease for more than what the land was worth. </p><p></p><p>Know a guy who bought 645 acres for around $650 an acre. Leased it for $2400 an acre and 27% royalty 12 years later. The kids that sold off the family farm are crying foul. The new owner is set for life with mail box money. </p><p></p><p>Barnette is nothing tho. Haynesville is way more richer over in far East Texas. Problem is the stuff is way deeper down. Takes big rigs and they're not readily available.</p></blockquote><p></p>
[QUOTE="backhoeboogie, post: 1183622, member: 3162"] I'm telling you! We were all excited back in '80. They punched a well about 1/4 mile from the house. Dry hole quelled our excitement. They went through Barnette Shale. Many folks sold land. We all thought there was no need in retaining minerals. No one bothered. Now you can lease for more than what the land was worth. Know a guy who bought 645 acres for around $650 an acre. Leased it for $2400 an acre and 27% royalty 12 years later. The kids that sold off the family farm are crying foul. The new owner is set for life with mail box money. Barnette is nothing tho. Haynesville is way more richer over in far East Texas. Problem is the stuff is way deeper down. Takes big rigs and they're not readily available. [/QUOTE]
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