Have ORRI on 3 sections (20S-33E, 20 & 29; 20S-32E, 24). Anyone aware of any activitity in this area that would lead to getting on offer to buy these?
Went on NM Tech OCD website and saw almost no well activity in any of them. Although in section directly south of 29 looks like a horizontal project from XTO, maybe planned but not active. Is there a better way to find proposed drilling or other testing activity (as an indicator of potential activity or exploration in the area)?
Obviously, mineral buyers offer more if there is imminent drilling on the lands. However, most mineral buyers right now are buying on speculation. So if there are wells permitted in the general area, your lands would generate offers. Another way to see the mineral buying activity is to search the county records for recent ORRI assignments. There are several websites that provide access to records or you could ask a landman or mineral manager to help you.
Dave
33E seemed to have had better/more recent comps, but judging by the leasing prices over the last 5 years, an ORRI/mineral basis would be valued pretty high. Leases going for as high as $13k @ 1/8 royalty.
Just received offer of 7500/acre NRA on 0.5% ORRI in section 23and 24.
Offer just increased to 13500/nra
