I have received an initial letter from Caddo Minerals indicated their interested in purchasing my mineral rights in Sec 28, T13S, R38E in Lea County, NM. Offering $ 4,000 per NMA assuming a royalty of 22.5%. Anyone else getting similar letters?
You are presumably in pay on one or both of the Steward wells, correct?
W2 of Sec 28 (Winnebago Fee 5H): Online since Aug 23. Made 4000 bo in Dec.
E2 of Sec 28 (Gray Matter Fee 2H): Online since Jan 23. Made 2600 bo in Dec.
Off top of head it looks like that offer is around 20 months of current cash flow.
Caddo Minerals whole shtick is to buy stuff, carve it into tiny bits, and sell the tiny bits on EnergyNet when the cash flow peak is in the near past thus making the “current cash flow” look higher than the cash flow will be when somebody buys it in 3 months. Thus hosing over dummies who buy little things on EnergyNet that appears to have a lot of yield. That may not be here or there, but that’s their deal as far as I can tell. They buy near term cash flow from unsophisticated sellers and flip it to unsophisticated buyers. In a glass houses throwin stones sort of description. 
You’d guess ultimate well density here will be 4 wells across the section (2 more wells). So maybe factor that into your calcs.
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Thanks! I received several PMs Saint basically the same thing. I really appreciate your thoughts!
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