S2 Section 21, S2 Section 23, S2 Section 24, N2 Section 26, N2 Section 27, N2 Section 28, NE4 Section 29 25S 31E 2080 Acres S2 Section 21, S2 Section 23, S2 Section 24, N2 Section 26, N2 Section 27, N2 Section 28, NE4 Section 29 25S 31E 2080 Acres S2 Section 21, N2 Section 28, NE4 Section 29 25S 31 E Containing 800 Acres
The description needs a bit of work as you keep repeating the same legals. Its not clear that those descriptions coincide with any particular lease boundaries. But whatever. Federal ORRIs in 25s 31e are pretty valuable per royalty acre but it all depends on
How big a % your ORRI is Odds that title supports your ORRI after spending of X in legal fees
Take whatever ORRI % you have. Multiply it by the gross acres that override covers. Multiply by 8. Do that for each ORRI and add those up. Those are net royalty acres. Take that number, multiply it by $30k. That is a ballpark # on what this would be worth if you own it. Weigh that against legal fees and chance of successful resolution. Cheers.
2 Likes
Sorry for the lame description, as I know zero about this please forgive my cut and paste effort. Perhaps this is a little more refined:
1/3 OF 1% overriding royalty (0.00333333) Township 25 South, Range 31 East, NMPM, Section 21: SE/4 Section 28: SE/4NE/4 Containing 200 gross acres 1 and 1/3% overriding royalty (0.01333333) Township 25 South, Range 31 East, NMPM Section 27: SW/4NW/4 Containing 40 gross acres 1/3 of 1% overriding royalty (0.00333333) Township 25 South, Range 31 East, NMPM Section 21: SW/4 Section 28: NW/4, W/2NE/4, NE/4NE/4 Section 29: NE/4 Containing 600 gross acres 1 and 1/3% overriding royalty (0.01333333) Township 25 South, Range 31 East, NMPM Section 27: NW/4NW/4 Containing 40 gross acres
Hey no worries. I get where its all kinda confusing. 2nd description is perfect and matches leases etc. 0.33% ORRI in 880 gross acres. 23.5NRA. Lets say $700k. If it turns out you own it. As a quick estimate.
1 Like
This topic was automatically closed after 90 days. New replies are no longer allowed.