There appears to be interest again in purchasing ORRI. Can someone share what is happening in Lea County NM.
Is it a good time to sell?
Can anyone share how much is being offered for acreage?
I believe there are horizontal wells being drilled or will be in the near future. Does this look promising, and if drilled in your acreage what does the ORRI look like?
Thanks!
I have been receiving offers to buy and lease minerals in Lea County. In this county it really depends on where your acreage is and the activity around it. If you share the Section, Township and Range, I would be happy to look up the activity and share it with you.
Township 24 South Range 36 East Sections: 17,20,21,28,30.
EOG is very active in these sections. There are a number of wells that have been drilled and completed in both of these sections from 2020-2023, as late as last October. You should be in pay status on most and soon if not already start receiving checks on the last wells drilled in last October.
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I don’t think you are looking at 24s36e Sec 17,20,21,28,30. There are no EOG or anybody hz wells there.
There are MTDR wells nearby and I can see why somebody is trying to buy folks ORRI there, but there is nothing there currently unless I am just completely out of my mind. Which may be the case.
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Well the landman are hired to call and make offers all the time. I get calls every day wanting to buy. They are like robo calls. Now leasing is totally different. If they are leasing, you have the opportunity to go in on the well with them (WI). Minerals are always being sought after by someone, and there is lots of money out there, prospectors are offering to buy whether its good locations or not. Most all wells are horizontal these days, and most of them make some kind of production depending on how the well is completed. I know a guy who did drill a vertical well in Gaines county last month -it was a dry hole.
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