I have inherited some mineral rights in Section 21, Block 48, Pecos County and I have just been offered $6,500 per net mineral acre for a 3 year lease and 25% Royalty. I would appreciate any comments and/or advise I can get from the members of this forum. Is now a good time to lease in this area? If so, is $6,500 per net mineral acre a good and fair price? Thanks in advance for all of your help.
XOM/XTO is drilling wells in Sec 16,21,28. Assuming the offer is from them, I would ask for $9k and settle in between. All they can do is say no. You probably want to lease rather than deal with them carrying you in the wells.
I believe you own less than 1 acre so its not a big difference either way, but might as well squeeze another grand out of them. Good luck.
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Depends on how many net mineral acres you have. The bigger the acreage the more bargaining power. I had one person ask about theirs and was letting attorney handle the negotiations. The only problem was they only had small net minerals and attorney was holding out and charging them. We leased with XTO and have a large net mineral acreage. You want to lease an hope they drill and you have checks coming in. Good luck