Questions re: sale of mineral rights and tax liability

1,737 Views | 82 Replies | Last: 11 yr ago by Tree Hugger
arson keg
How long do you want to ignore this user?
quote:
quote:
quote:
quote:
West Texas has done more for you people that you realize or are willing to admit.

I'd be a little more appreciative of that area as it tends to take one for team in terms of smells, oil and gas production, and ugly windmills if I were you, rather than being a bunch of suburban new strip center ingrates.


I'm from Gonzales. You act like West Texas is the only place in TX that's taken some crap for the better of the state. My hometown has turned into a freaking RV camp with crime up across the board compliments of the trash that O&G tends to bring with it.



What's your take on the economic boom O&G has brought to the area?


Honestly, not too much has changed. There are a few more businesses, but the people that had the money before are the ones that are getting all the new money from the O&G. Not that I hold anything against them for it, it's just the way that works with land and mineral rights. I've got some mineral rights there, but it's super small compared to others. A lot more of the money is leaving the town than is staying in it.


More money leaving then staying???!?

Might be one of the dumbest things I've read on texags
histag10
How long do you want to ignore this user?
I'm from small town Texas, and my family still lives there, including my brothers. None of them are lolpoors, or government leaches on welfare, or druggies.

They are all very successful, pay for their own crap, and employ other people. And none of them work in O&G

[This message has been edited by histag10 (edited 8/14/2014 11:22a).]
80s Guy
How long do you want to ignore this user?
BS - The smart one will, but I have seen what happens when they don't. A few years ago I had a cousin that was rolling in oilfield money but then he hurt his back and was out of work. He hadn't saved any money but had a nice truck that he ended up having to sell to make ends meet. My dad and I bought a small piece of land with an old church on it and gave it to him to live in. He now makes his living fixing old engines, squeaking by paycheck to paycheck.
Tree Hugger
How long do you want to ignore this user?
I must say this has gotten interesting
arson keg
How long do you want to ignore this user?
I sent you updated info



boy, your family owns some suckass land
IIIHorn
How long do you want to ignore this user?
Tree,

Even 20 acres of mineral rights can provide substantial worth in terms of both market (sale) value or future income.


It is wise to have Skran look at this for you. He should be able to provide you with a reasonable expectation of market value and/or a basis for future income predicated upon offset activity.


BarnacleScraper
How long do you want to ignore this user?
skran is trying to low ball you so he can scoop it up and drill another dry hole.
arson keg
How long do you want to ignore this user?
dry holes are for retail investors


you know, drill, perforate, don't stimulate, claim a dry hole, then "sell" it to a friend for P&A liability nyuk nyuk nyuk
Beer Baron
How long do you want to ignore this user?
quote:
skran is trying to low ball you so he can scoop it up and drill another dry hole.



Something, something, NA's Mom, something.
IIIHorn
How long do you want to ignore this user?
Stale, Oversimplified and Cartoonish Map:

histag10
How long do you want to ignore this user?
hmm.. My parents live right where everything seems to overlap. Is that good?
IIIHorn
How long do you want to ignore this user?


[This message has been edited by IIIHorn (edited 8/19/2014 2:37p).]
NellCote71
How long do you want to ignore this user?
As a long-time royalty owner--and given the current state of drilling technology--I definitely would not sell. You are looking at short-term gain for a possible, and likely, long-term pay-off. I get about three or four letters like these a week. Never been tempted. Ever.
Tree Hugger
How long do you want to ignore this user?
I got skrans reply, it looks bleak but I think mom should hold onto it, you never know.
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.