I was just given an offer to sell my rights and not sure if it is competitive. $5,000 per acre.
Reeves County
Section 2 Block c-15
Section 6 Block 13 (A-1024)
Section 25 Block C-15 (A-1817)
Anyone else had comparable offers?
I want to lease
We are new to the forum. My wife recently inherited a little over 10 acres of mineral rights in Blk 1 Sec 37. It has one horizontal well that just started producing. It averaged about 300 barrels of production per day in July. The rights have been leased. We have just been offered $13,750/acre to sell. We are trying to figure out if it would be better to keep all of the acres or sell part. Any opinions on whether to sell or not and on the offer would be much appreciated.
Tracey,
I see where Apache has an approved permit to drill a wildcat well north of your minerals in Section 25.
Apache also has an approved permit for a wildcat well to be drilled about 6 miles N/W of your Section 2. Depending on the outcome of these 2 wells your minerals might be worth more than $5,000 per acre.
CLICK ON MAP TO ENLARGE.
Clint Liles
Thank you so much!!!
3 year lease 320 acres block 56, sec 16, twnshp 3 in January 2016 for 4K per acre
keep your first couple checks, then sell half. - just my two cents
I've been approached to sell my surface acres. Is it best to lease or sell?
Surface- definitely lease it, add in expensive surface damages, construction of roads, replacement of trees, unlimited access to gas produced on your property.
But the mineral owners have the ultimate say, so unless you own the minerals, may take as much as you can get.
My wife's family owns 93 nma in the east half of Bock C-18 Section 14. The current lease expires in October. They are interested in obtaining a new lease. Any ideas about what rate to expect and who can they contact to get the best lease?
Thank You Patrick and yes we own the mineral rights as well.
I sent you a friend request to discuss this acreage. I am
The new production checks will be very large for the first several months (catching up on the first set of production) then will start to taper off. It is a "risk/reward" scenario. If you don't need the money, I wouldn't rush to sell. If you have something specific you would like to use the money for or would like to hedge your bets, sell all or part of the minerals. If you decide you want to sell, I am happy to help. Good luck! :-)
Our 3 year lease with OXY expired Aug 28. We heard nothing from them re: exercising a three year renewal option. What's going on?
Our company CJM Resources is very active in the area, and I would be happy to provide you insight as to what activity is going on in the area, as well as what type of lease rates you can expect.
Do you have the legal description of your property? I work with CJM resources and would be happy to give you an idea as to what activity is taking place around your area.
40 acres, section 6, block50, township 7 T&P RR Co. Survey Abstract 5651
John,
Where is your acreage located? Section? I can look into this for you…
Hi,
My family was contacted by a mineral rights buyer, saying that we were entitled to 5.8 acres of mineral rights that were recently subject to a petition for receivership, and offering us $25,000 up-front for the interest in mineral rights, with the associated legal services coming for free. That's above $4,000 per acre. The mineral rights are located in Section 23, Block C-7, PSL A-5072. The land is currently non-producing.
What would be a reasonable going rate for these rights, and in the case that my father cannot cut a deal alongside his siblings, would our selling value be greatly diminished if we tried to sell our 1.4 acres separate of the greater 5.8?
Thanks for any help here.
Steven,
These wells in this area are not just oil wells but oil and gas wells combination. And there are some very good wells here. There are 2 formations being targeted in this area...the Wolfcamp and the Wolfbone(Trend area)...And there are possible other productive formations below these 2 formations. If these were my 5.8 acres and I had to sell them now I would be asking at least $75,000. The higher the price of oil gets the more this 5.8 acres will be worth.
THIS IS JUST MY OPINION
The producers/operators in the area that have done a majority of the drilling of these wells are Clayton Williams, COG Operating, Rosetta Resources, Comstock Oil & Gas and Energen Resources.
Clint Liles