My family has recently started receiving royalty payments from our first well on 115 NMA (section 24, Block 52, T‐7, T & P R). This well has produced 975 Bo/d IP30.
We're not actively looking to sell this property, but would anyone have a fair estimate for its worth? Seems like this property has tremendous earning potential.
Thanks!
I've got minerals in Reeves and Ward that I would definitely sell for the right price (feel free to reach out if you're interested in buying).
As far as price, I think it all really depends on current production, geologic quality, and identity of the operator of your acreage. The latter two factors influence future well results and timing (and thereby value). It sounds like your well is producing very well, so congratulations!
If you look around in this forum and others (Loving county) you can get a pretty good idea of value per acre. A lot of buyers are paying 20-22,000 per acre but you need to realize the present value of your acreage could be as high as $50,000 per nma. At 115 acres that's a goodly sum.