Texas has seen over a century of oil and gas exploration and production. Many have forgotten that the East Texas (Woodbine) Oil Field in Gregg, Upshur, Rusk and Smith Counties was the largest oil field in the world for a time. Texas has seen the up and down cycles of oil and gas prices, having to navigate through the ripple effect on the overall economy, often a boom or bust scenario. Fortunately, Texas has diversified its economy thereby lessening its dependence upon oil and gas.
With the Eagle Ford in South Texas, the Wolfcamp, Sprayberry, and other zones in the Permian Basin in West Texas, Granite Wash play in the panhandle, and the Cotton Valley and Haynesville plays in East Texas, Texas is rich in natural resources.
However, with all of these areas being developed with expensive horizontal drilling and huge fracks, well economics can become challenging during oil and gas price downturns. Many wells in the past that penetrated oil and gas reserves have been plugged and abandoned because they weren’t economic at low prices. We stand at such a time, when mineral buyers and sellers, and oil and gas operators, don’t have a crystal ball to view the future of our industry. Many of us have lived through long downturns, and have minerals that were worth significant amounts of money for a season, only to see those minerals lose much of their value as the industry cycled down.
As you evaluate your overall financial position as it relates to the question of selling some portion of your minerals, we would welcome the opportunity to work with you. You will receive personal service as we research your mineral values, and promptly inform you of our offer. It all starts with you filling out our assessment form.