Owner decimal = .01562500, indicating seller owns 80 acres of mineral rights under the Mcllrath #1 well assuming gas well spacing of 640 acres and royalty of 1/8. NOTE: We have NOT confirmed these well spacing or royalty fraction figures. Buyers should do their own due-diligence prior to closing.
Most recent three royalty checks covering October, November and December gas and NGL production from the McIlrath #1 well averaged $150/month. Per Texas RRC, well averaged about 2000 MCF/month in 2021. Decline in monthly production has been minimal over the past ten years.
Lease is located in NE Sherman County, near the Hansford County border.
Checks come in owner’s name. View the three most recent (December, January, and February) checks stubs at below link:
Sherman County, TX
Section 45, Block 2, GH&H Survey (A-485)
80 (potentially...see listing)
Make offer (SOLD)