America’s conversation place for mineral owners
Deborah - I think I found your tract using online deed records. That looks like a pretty good area and should bring a good price if you choose to sell. Others that have sold recently may be able to give you recent sales prices. Have you been receiving offers in the mail?
I agree with Marcus. Great area, with a lot of new development and strong wells. I would be hesitant to sell the minerals, but if you are wanting to sell, you may want to consider doing just a partial sale. ie, half of what you own. That way you can realize the benefits of future development. I imagine one of the forum sponsors could give you some insight on what tracts are selling for in that block.
Best of luck!
my question is that I only have 1.3 acres would I even get that much if there was a good producing well? I know nothing about what producing wells pay. Can't imagine getting that much from just one acre?
I would like to thank Marcus and wolfcamp for their response, it led me to talk to someone who new just what I needed to know!! I will keep my 1.3 acres, never new it could give that kind of return! Thanks again
What kind of return could be reasonably be expected per acre? (Loving County, 5 permitted wells, Public School Lands. Block 76 Section 25 and 26). Have offers to $35K plus for purchase. Can anyone hypothesize approx royalties with positive results from these new wells? There is an existing lease @ 25%, no productions costs, 1.5 years remaining.
We decided selling was not a good idea; we leased for 3 years with 1/4 royalty. The going rate varies quite a bit by location of your property. There are many people on this forum that know much more than I do about how to tell what is the going rate in your area. I can tell you that we are leasing for several times more than we were offered to SELL the property. So take your time and do the research, is what I would advise. Our lease is for $3500 per acre with 1/4 royalty.