New to the forum: my family has been offered a purchase on holdings in Section 272. Is there much activity in the area? And what are the going prices for a sale or for lease? Appreciate the help!
Carolyn
Please, we need to know which "block" the section is isn. We need more of a description of the property to be able to locate it,
But let us suppose that your section 272 is in Block 13
There are leases of 10,000 to 25,000 per nominal mineral acre in that local.
Do retain an attorney, read over the board for referrals of recommended attorneys, before you do anything. You probably do not know how much your property is worth mineral wise. It is in the hottest oil area of the nation right now. Get expert legal advice before doing anything.
Read in this forum;
discussion
Section 271 Block 13 H&GN Survey Reeves county.
If your section is in Block 13, it will be especially pertinent.
Thanks Lynn. Don't want to go into this blind.
@ Lynn
You know of $25K nam in Block 13? For a lease...?
I know of more than 10,000, and have heard of 20,000.
There seems to be a particular structure of some interest besides a push
to commence a drilling schedule for the general area.
This is from the offers my cousins have received and from what I have read here.
I am not in the business nor am I there in Texas, so that is the best I can do to explain