We have had many inquiries re: leasing our land (Section 50). I have heard there are offers of $6k+ per net mineral acre for a 3 year lease, with a 25% royalty interest.
Anyone know if there is any truth to this?
There are many section 50s in Reeves County. Location is everything.
I stand corrected...Section 6, BLOCK 50
John,
What is the exact Block number?
Is it Block 50 T7S or Block 50 T8S ?
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Clint Liles
T-7?
A-5651
John,
After checking the GIS(Geographic Information System) Map I see fantastic wells in every direction from your mineral acreage. The production numbers are great on these horizontal wells. Chevron, Oxy USA and Centennial Resource Prod. seem to be the major producers in this area of Reeves County. I see no reason why it's not possible to get $6,000 per acre to lease these minerals. It may be after oil prices go up some but I still believe it's possible.
JUST MY OPINION
GIS Map of Reeves County A-5651/Section 6/Block 50 T7S and surrounding area:
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Clint Liles
Wow, there sure are a lot of abstract numbers for that one section!