Now this is interesting to me. I got a letter yesterday from a company wanting to purchase my mineral interests in a piece of property that borders Lubbock and Hockley counties. They are offering $950.00 per net mineral acre. Not sure what that really means, but I am not interested in selling because I have just a tiny tiny tiny bit of acreage. I just cannot really believe that there is any oil underneath any of that land out there whether it is 6,000 feet or 13,000 feet down. All you have to do is drive around out there and really now, how many oil wells do you see???? Answer: about zero oil wells. How many tumbleweeds do you see? About a million and they are all as big as Vokswagens. Don't know what kind of wacky weed or funny mushrooms these "oil folks" have been smoking or eating but, they can always dream and wish and throw away their perfectly good money chasing a dream.
Regardless of how much or how little land you have it is a very bad idea to sell your mineral rights. You are in an area that is poised to be a new oil boom. What you don't realize is that the technology available today for seismology, drilling, stimulation, and production is vastly improved over what was available when the Permian Basin oil boom occurred. The geologists are aware of a number of oil-rich formations in west Texas that could not be produced before, but now with the new technology and the price of oil going up these formations will be made to produce with no problem.
I would suggest that you contact Citizens Shale Advisors for some free educational material. www.citizensshaleadvisors.com