Yes, it would be interesting to learn whether Pony Oil was speculating or a hired gun. Is there now or has there been existing production on your minerals? I wonder how likely it is that a mineral buying company would speculate on non-producing minerals? Guess a lot depends on how inexpensively one can buy in to a play.
Ed, what do you know about the area around Block M, Section 8 of the EL & RR Railroad Survey? Is there much activity north-northwest of Lamesa? Thanks.
in dawson county= go read the thread “Lease questions, Do i need an attorney”. several years ago when eog entered the area they concentrated on southwest of lamesa all the way into gaines county-3000 leases, From this thread i would conclude they are quitely up there northwest of lamesa accumlating a lease position.
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Yes, that post was actually by my cousin, but she won’t have anything to do with us because she doesn’t like our politics. Relatively few people have a share in the rights to that section, so I’m certain who that individual is. Too bad, we’d probably do better by joining forces, but so be it.
Offers continue for this royalty interest, increasing in value each time. Do mineral/royalty acquisition companies generally purchase when they know there is a good possibility of drilling activity? Or do they simply speculate on different areas.
What was the latest offer if you don’t mind me asking?
I have received $1750 per acre.
Strike the last post, the offer was $2500 per acre.
That seems a little low. I have some mineral rights about 6 miles north east of you and I received offers of ~$2,000/acre earlier and the year and the last one I received was ~$4,000/acre about a month ago. I’m only leased at 23% as well.
Rstand, is the interest you own a mineral interest or royalty interest? This could help better gauge your offer. Mineral interest is significantly more valuable because it receives lease bonuses every few years. If you are not sure, I would ask the potential purchaser which interest you own. If its mineral interest the current offer would be on the low end, if its royalty interest take with a grain of salt those people who are speaking of offers for their mineral interest.
Hi Nathan - thanks for the help. I have a 25% royalty interest. My most recent offer is a little over $3300 per acre. Most recent permits seem to be a couple of sections to the east of section 5 where mine is. There is one permit in section 5 for a 5900 foot injection well, but not in the SE quarter.
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