We have been offered a great deal of money for 1percent interest on 2400 acres on federal land in Lea county NM and have noticed alot of activity with with water permits in local newspapers anyone have any knowledge of whats going on?
Lea County is very active with oil and gas activity. Are you sure those are not oil wells? An overriding royalty will be very valuable. Explore the New Mexico OCD website and find permits on and around you acreage.
we have 4 wells currently producing , FED AW 2-3002530975-LUSK FED 23 -2 3002536720 LUSKFED 23-3 -3002540166-LUSK FED22-3002535590 . I really dont like computers as you can tell the thing is we have been getting about 240 dollars a month and within last 9 months had several offers with the last one being over 500K leading me to believe that big things are happening.
thanks for your reply dan. they have been offering for last 10 mos 2 da ys ago another offer of 690k but not really interested in selling at this point by the way they started at 150k there are 6 of us holding 1% of 23 royalty acres i guess overriding royalies are quite valuable.
I guess I might be interested in selling half of my interest but it would cost more than they are offering for my whole interest.
another offer in the mail today 1,000,000 reasons not to sell but who knows
Depending on the location, this interest could be worth well over $500,000. You’re interest is 192 net royalty acres (2400 x 1% x 8). We have gotten our sellers offers over $20,000 per net royalty acre in Lea County.
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our last offer yesterday was $1,000,000 before that 690k sorry but far from max , max!
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Congrats! There is always a higher offer! Lol.
true that it is crazy today 1.2 mil
Anything under EOG in Lea County is hot right now. Those wells you listed are north of the heaviest activity but are still in a promising area, obviously.
Thanks for the info marcus t we also have well with Apache 30-025-38678 but they are not getting many barrels a month but who knows?
do you think EOG would be behind these offers and if they are why wouldnt they negotiate with us themselves?
Anything is possible but odds are that it’s not EOG, in my opinion. Lea County is simply on fire and investors are rushing in to get interests there however they can. The offers you list honestly don’t surprise me all that much if it’s a .01 ownership decimal in all of the wells in that 2400 acres. That’s extremely valuable.
thank you for your insight living in Indiana, its hard knowing whats going on our family won an oil lottery back in the 70s and was taken advantage of by a JR type saying it was worthless cow pasture had to go to court. Any help is appreciated
New offer last week 1.2 mil. this week 1,866,000 they are not there yet not really even close. we will see what next weeks installment of as the oil turns continues peace out timmy d
Nice. You are still collecting your monthly royalties right? They aren’t still $240. Congrats
yes they are still in the 240 a month thats what is so wild. the future is really looking good according to our calculations we could be talking 2 to 4 mil a year in royalties on the high side ,low side 280 ,000 a year might be couple years away we can wait. My brother has a friend who is CFO for a houston oil co. he thinks they are seeing if we will bite on high offers weve been doing our homework lots to take in.