In Gaines County I have two tracts of land in which I own the mineral rights that a company wants to purchase. The tracts are: 1) South One-Half (S/2) of Labor 4, League 294, Lynn County School Lands Survey, Gaines County, Tx and 2) Southwest one-quarter (SW/4) of Section 72, Block H, Certificate Number 102, Dallas & Wichita Railway Company Survey, Gaines County, Tx. Both of these I have leased out but I don’t think there has been any drilling yet. I am being offered $1,500 per acre. I am hoping someone on this board can tell me if this is a fair price or not and if there is any activity in these areas. Thank you in advance.
You’ll find qualified professionals who provide valuation services under the Directories link in the main navigation area of this site. Given that your name is identifiable, you’ll likely experience other buyers contacting you as a result of your post here. Use a healthy dose of common sense when dealing with anyone approaching you to purchase your minerals.
Thank you for the advice.
I believe this link will open the RRC map viewer to a well that was drilled on Lynn CSL League 294, Labor 9 which shares a property/labor line with Labor 4. Use your mouse to move the map down to reveal Labor 4, then use the magnification bar on the left side of the map to zoom out to reveal two permitted CGS Operating horizontal wells about three miles to the east. Go to the search bar on this forum and search for CGS Operating threads where you will find much information. Has anyone tried to lease your land?
I got the same offer - and it makes me wonder. When oil is at the lowest why does some middle man company want to pay $1500 an acre? But getting a professional is always the best idea to help you sort out fair prices
Erin, if you know of a good professional let me know. I’ll start looking. Thanks.
Yes AJ, the land is leased to CGS. The purchase offer is from another company. Thank you for responding.
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