New Offer to purchase or lease minerals

New Mexico Mineral Rights Lea County, NM
1

I just received a letter offering to buy or lease Sec. 23 - 15S - 36E .

Ace Energy out of Dallas. Chase Lake

Does anyone have any experience with them?

2

I don’t know him personally. 2nd hand experience: he made an offer on X to another person here and followed through with the offer when I figured he would bail, so I guess that is a moderately good sign. Offer was ok, not fantastic, but ok.

Idk about calling your company Ace Energy though.

Matador permitted a 3 mile Strawn I think test just to the East of you, I’d guess somebody just hoping that works and your section gets developed.

image
image427×394 74.6 KB

3

Thanks for the help. I will let you know how it turns out.

4

Is the Strawn in Eddy county deposited as a resource play lamina or are the productive areas discrete mounds which happen to line up in the case of Matador’s permitted well?

5

I don’t know. I would assume it’s like a reef. Continuous and parallel to old shoreline but not ubiquitous. But…I try not to pretend I am a geologist for obvious reasons (i.e. so I can make fun of geologists). :grinning:

1 Like
6

Thanks. I noticed the map you shared has several vertical wells in two sections
PS Ace is better than Deuce :blush:

9

Luke, we received an offer to lease from Ace recently on Township 16S Range 37E Section 7, which is in the same area as your offer. What have you done or heard from them since your post? They are offering $400 per acre bonus and 20% royalty for three years, with 2 year extension option with 100% of original bonus. Not sure how good these terms are. I think there is some activity in this area, but not sure of that. Perhaps, NMollboy can confirm.