Florida Owners on the Conroe Oilfield

The Conroe Oilfield — discovered June 1931 by George W. Strake in Montgomery County, Texas — has been producing oil continuously for 95+ years. Many of today's mineral interests are owned by Florida residents who inherited them from a parent or grandparent who lived in or worked in Texas during the 1930s Strake-era boom. If you live in Florida and receive monthly royalty checks from a Texas operator on a Montgomery County lease, this guide is for you.

What You Likely Own

Florida-resident heirs of Conroe Oilfield interests typically hold one or more of:

Producing royalty interest — a fractional share of a producing waterflood unit's revenue, paid monthly

Non-producing mineral interest — fee mineral ownership in a section currently between producing wells

Overriding royalty interest (ORRI) — a royalty carved out of a working interest

Non-participating royalty interest (NPRI) — a royalty interest with no leasing or development rights

Selling Remotely from Florida

Out-of-state mineral sales are routine on the Conroe Oilfield. Buckhead Energy handles every step remotely:

Submit your information by email — county, legal description, and a copy of your most recent check stub

Receive a free written offer by email

Sign the mineral deed and PSA in front of a Florida notary

Receive funds via wire transfer on the day the deed is recorded with the Montgomery County clerk

Florida Tax Considerations

Florida has no state income tax; federal capital gains apply; inherited interests typically receive a stepped-up basis. Inherited mineral interests typically receive a stepped-up basis to fair market value at the date of death.