Hard-working Texans live by a cowboy code of ethics. That code includes going all in, being tough but fair, and taking pride in the work. This code may help explain why Texas is the undisputed #1 producer of crude oil and natural gas in America.
Those who can handle the industry work long hours and often put themselves in risky, uncomfortable situations for the rewards. It’s in their DNA to ‘do what has to be done.
Work hard and play hard is also in the makeup of tried-and-true Texans. A passion like a thrilling game of poker may be the best way to unwind after hours. Card games are a popular pastime in the state of Texas. The state has 84 poker rooms with regular tournaments and special events. Viewers can watch the action on a screen at their favorite bar with friends. The more serious gamers will hit the card rooms and try their luck.
If the game isn’t going one’s way, stubbornness can tell them to and hang in there for a few more rounds. They might even pool their cards with other players to gamble on getting the best five-card hand to turn their luck around. That’s Texas hold ‘em. Each player’s results depend on their own cards.
When it comes to owning mineral rights with others, the game is different; you win or lose together. If it’s a joint family investment, some may be asking if it’s time to find out who buys mineral rights, while other members may stubbornly want to hang in there to see if their luck turns around.
Wise cowboys know where to draw the line
Maybe your family enjoyed a bit of ‘beginner’s luck’ when receiving their mineral rights. The royalty checks were flowing, and one trustworthy relative took charge of the details. It’s no secret the oil and gas industry is a volatile market requiring an investor with steady hands. Maybe over time, that trustworthy relative has been complaining about wanting to simplify their life and let go of managing the family investments. No one has stepped up to manage the communication and family updates. The royalty checks have started to dwindle, and there’s talk of horizontal drilling looming nearby.
This may be the time to remember that the cowboy code also means knowing when to walk away. This isn’t giving up; it’s being realistic. And considering all the options might turn things into a winning game for the entire family. If a family member says, ‘I want to sell my mineral rights in Texas,’ it could be time to sit back and consider the strategy.
Receiving a lump sum and breaking ties from a join investment can appeal to everyone in the family. No more confusion over what is and isn’t legal in the oil and gas industry. No more family squabbles over percentages and royalty payouts. Everyone walks away a winner.
We are a family-owned business that buys mineral rights. Yep, we are a company that buys Texas mineral rights. The process involves investigating what a family owns, the current status of the wells, and future potential. We bring the data, options, and a fair, quick offer everyone can be happy with.