Updated almost 13 years ago on .
LAND PURCHASE/MINERAL GAS
Good morning BP family. I am placing a contract on 70 acres of land outside of DFW. It is zoned residential. It is a growing area. Few neighborhoods around the land has been developed in the last 12-18 months. This land is an REO. The price has dropped significantly. I have many options if I get this property. The minerals are sold and leased already, so I do not own the minerals. There are few gas drilling that is taken place within the land. I need to know what is the spacing laws in Texas as it pertains to gas drilling. What else do I need to be aware of as far as the land and potential issues that I may be blind to. I look forward to everyone's feedback.