I own some minerals in T20, 35E and have been offered $5,000.00/nma to sell all interest. Just curious if that is low for the area? I do see some activity to the West and South of my section and would also like to know what lease bonus is going for at this time? Any help would be greatly appreciated!
TJ,
You would need to be a little more specific as far as the section, there is some new activity in that township, but without knowing a section it would be hard to justify if that offer is fair or low.
Thanks Jonathan for the reply! its section 22 and believe alittle in 23.
Do you know the legal description by chance on section 22 and 23? I do see some permits, but they only encumber a portion of both sections, so depending on where your acreage lies will determine if you will benefit from said wells.
if you have legal descriptions i can help you figure out if you will be part of these potential wells, you can shoot me a message at **********************
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It looks like E/2 section 22 and sw/4 of section 23 if that helps.
TJ,
I got a little more clarity on these sections, but i can’t figure out how to upload the photos on here to show you whats going on. There are some permits on this property, so feel free to email me from my email address above if you would like for me to forward them on to you.
My $0.02
Things in your favor: There are 2019 permits in Sec 22. One in the E/2 Well productivity 3-5 miles to your West is pretty good
Things not in your favor: You are on the Eastern edge of established Delaware Basin, pushing the margins Your permits are from Ridge Runner who has yet to drill a well anywhere in the Delaware.
I can’t imagine its not more valuable than $5k/nma.
Federal and leases to the East of you have gone for 6600-10k/acre bonus in the past year. I would guess a 25% bonus fee lease would go for 1/2-2/3rds of that.
Thank you for the info!
I turned down 13500/nma for same area. I dont know what they would have gone to because i told them i was not interested in selling. Titus oil in ft worth made the offer
Ronald,
How long ago was the offer to you? You mention same area… is your interest in the same Township and range?
TJ1,
My family owns the royalty rights to the E/2 of Section 22 and the W/2 of section 23, excluding 33.5 acres reserved for Edgar Watkins family in the southern border of section 23.
My best regards,
Stephen Watkins