I have a partial ownership in
Eddy county, NM all sec. 5, t-18-s, R-31-E, NMPM all sec. 6, t-18-s, R-31-E, NMPM
at a net $1500 per acre
How does one know how many acres they have and if that is a decent offer
Thank you!
Ask the agent how many net mineral acres they are asking about.
Since you are surrounded by sections with permits to drill horizontal wells, I suspect that the offer is low and is for the production you have on the current wells, not the future potential.
Offers to buy come frequently before a drilling program and tend to start out lowball.
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Thank you for the response! Do you know how to know how many acres I own? or How would I know if there are current wells or any activity on the wells?
There isn’t anything new going on in those sections. As @M_Barnes said, whoever made you an offer should be able to tell you how many acres (royalty or mineral) they think that you have.
There are quite a few old active vertical wells in Sec 5 and Sec 6. You should in theory be getting paid a decimal (portion) of those which would be another way to figure out how much you own. Are we getting Matador or Special Energy or Eastland checks currently?
Sec 5 and Sec 6 are a WHOLE bunch of federal leases and a state lease in SE/4 of Sec 6. It seems unlikely that anyone owns in all of those. My guess would be that you don’t actually own “all” of those sections and person offering you might just be spitballing. But I am just guessing.
