Hello, does anyone know the going rate for lease or Purchase of water rights per acre in Lea county?
Its New Mexico. Law of capture does not apply. You either have rights to a certain acre-ft per year or you have nada beyond I believe a 3 acre-ft domestic well.
Sorry new to this but I’m trying to drill water well on some land I’m in the process of acquiring the land I was told you can buy and move water rights to a new Or existing as long as it’s not in a critical management area well I’m looking to purchase or lease a couple of acres if it makes sense is this possible ?
Yes it is possible to buy water rights and move them but typically that is within a certain area usually not far and typically for ag purposes. If you own some ranch land you should be fine drilling on it. Check with the NM state engineer and a local drilling company and see who they recommend to make sure you are in the clear.
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