We just inherited royalties from 2 wells in Midland County. They have been in the family for about 20 years and yield $3000 to $5000 per year. We are getting multiple offers to buy for over $200,000. We thought royalty values would be maybe 3 times annual. What is going on? Can’t find any info on new formation plays in the area.
What Section, Block, Township etc and/or Abstract No.? Also, how many mineral acres do you own?
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It’s possible their may be a lot of permits happening in the area.
This is an industry where the seller needs to beware because they likely know something you don’t know, so please be careful if you’re considering their offer.
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I accidentally placed this in the incorrect County. Interest is in Midland County. Sorry
wolfcamp, lower spraberry, bone springs formations
Most likely you have horizontal wells coming. Use the RRC maps to look up wells around you and pending permits. Be cautious about selling.
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Thanks to everybody for helpful rresposes
I’d check the RRC website.
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