My sister and I inherited a small interest in 3 oil and gas wells in the Sun Walton Unit and are interested in selling. Does anyone have suggestions on locating buyers and what might be a fair price to expect? We have been flooded with letters regarding properties in Reeves County but don't know if Winkler is as active. We're educators so really value your help here and many thanks!
Dear Kathy,
How many acres you have. And what is it Producing, Most of the time I see offers for about 10 times my monthly income. You must have the contracts looked over by Oil and Gas Attorney, as the Big Print Giveth and the Small Print say it is taking all of your Minerals!!!!! But I highly recommend you sale them, as you can leave them to you heirs. My wells have been pumping since 1927, when they get slow, the companies redrill or go horizontal. So you see the price of oil will come up again, just today the news said Saudi A, is holding the cuts in Production. See the poor Saudis are poor, losing 100 Billion a year, and so they need the price of OIL to be $75 A barrel. Me too. Makes my checks larger.
I just sold some interests in Winkler County, and may be able to help you out if your interested. [email protected]
I’d hang on to your minerals for a while yet. I think especially the Cheyenne Draw area along Hwy 18 is going to get another wave of drilling activity soon. Lea and Eddy counties of New Mexico are just north of Cheyenne draw. Look at this development in that area:
Fort Worth energy startup expands its Permian holdings in New Mexico. "Chisholm Energy Holdings, a Fort Worth startup, is expanding its holdings in the Permian’s New Mexico Delaware Basin. The land contains multiple horizontal oil and gas reservoir targets in the Bone Spring and Wolfcamp formations in Eddy County, according to a statement.
That whole area in the Sun Walton should be a southerly extension of the find in Eddy and Lea counties of New Mexico.