America’s conversation place for mineral owners
My brother and I have the mineral rights to possibly 640 acres in Gains Co. Someone has offered to buy our mineral rights. How do I know if they are offering a fair price? Thanks Mel
It is difficult to place a well-defined value on minerals. The value is often dictated by the market, and what someone is willing to pay for them. However, unsolicited purchase offers often are significantly below what would be considered competitive. If you post the description of your property's location, I can pull it up on a map and let you know what is going on in that area.
You may also want to try reaching out to one of the forum sponsors to see if they have any historic sales data for properties in your area.
thank you for your response. Section 290, Block G, WTRR Co. Survey.
Do you own minerals in any of the surrounding sections as well? You mentioned 1280 acres, and that corresponds with two full sections.
Below is a leasehold map of what is going on in that area. While there isn't any production activity on Section 190, it looks like Crownquest and BC Operating are putting together a block in that area. Crownquest is extremely well regarded in the Permian Basin, so I would be inclined to hold off on selling and see what happens. Is your property currently leased? Also, would you mind sharing what company made the offer and in what per acre amount?
I'm new to the group. is it ok/proper to give info like that for all to read? I did send you a friend request on this site.
I have accepted your friend request. You are welcome to send it to me by private message if you would prefer.
I have sent you a private message. thank you
Wolfcamp Shale, Do you have any idea what formation(s) Crownquest and BC Operating might be targeting? I think BC Operating is also very highly regarded.
I suspect San Andres, but I'm not sure.
Thank you. I didn't think to look until just now; there is well permitted to 7300' in the section immediately to the west. And to the north there is an 11,000' shut-in well.
Would you be able to tell me how to get a copy of leasehold map in Gaines County? I received an offer from CrownQuest for leasing our undivided mineral interest but they pulled it at the last minute. Want to know if there is any activity on W/2 Section 21, Bock C-44, PSL Survey.
Sorry to jump into this conversation. Appreciate your help.
I think you can purchase an 8" x 14" copy of a portion of the larger Gaines county lease and ownership map for around $100 from Midland Map Company (see pricing table at the bottom of the linked page). I have no financial interest in this company.