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Lea County, NM - Oil & Gas Discussion

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Lea County, NM - Oil & Gas Discussion

Oil & gas discussion group for those interested in Lea County, NM. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.

Members: 195
Latest Activity: on Thursday

Discussion Forum

What Comes Next?

Started by Luke Alexander. Last reply by Diann Owens Nov 28. 2 Replies

I own 320 nma in Sec. 14 & 23, T15-S, R23-E in Lea County, NM.. This is just NE of Lovington.After having leased it out to various people over the years, I leased it to a group that puts together…Continue

T13S R38E Area Leasing

Started by Diann Owens Nov 21. 0 Replies

Does anyone know which companies are leasing in this area and what terms they are offering?  Any help would be appreciatedThank youContinue

Lease offer

Started by Mark. Last reply by Rick Nov 5. 1 Reply

I received a lease offer on some property in Lea County - S11 T16S R37E and S14 T16S R37E.They are offering $750/acre bonus and 25% Royalty for 3 yr + 2 yr Option.Does this sound like a good deal?Continue

Alamo Peak

Started by Stuart Givot. Last reply by Stuart Givot Nov 3. 2 Replies

Does anybody have any information regarding Alamo Peak, Royalties, LLC?They are located in Midland ,TX.Continue

Comment Wall

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Comment by William Douglas Archer on June 6, 2017 at 11:22am

Nothing better than dealing with the next generation.  Usually they are so excited about the money, they give the farm away.  Listen to Gary on this!

Also, 25% cost free royalty.  No modifications whatsoever to that.

Comment by Gary L. Hutchinson on June 6, 2017 at 11:09am

David, That is a terrible deal for the mineral owner.  Most leases are lob sided towards the lessee anyway, don't give up your upside by granting an option to purchase what little you have left.  Once your lease is drilled, your royalty dream may be worth well over $20K/acre.  

Along with never selling minerals, you should never give away your option to sell if necessary.  

Gary L Hutchinson 

Comment by David Ammons on June 6, 2017 at 10:46am

RE: 15.00 NMA in T26, S10,R36E

I am still working with my attorney to get probate from TX filed in Lea County so my two siblings and I can negotiate individually from my parent's estate. I have received a tentative lease offer for $2,500/acre bonus at 23% for 3 yrs with a 2 yr option or $7,000/acre purchase.  I am waiting on another lease offer.

Comment by Paula F on May 12, 2017 at 6:39am
You might want to reconsider selling your minerals. Most attorneys will tell you to NEVER, NEVER, EVER sell your minerals. I would talk to an attorney before you do anything. Especially if there is going to be some activity in that area.
Comment by Gary L. Hutchinson on May 11, 2017 at 6:39pm

Judy, picking up like a rocket to the moon.  Hang on.  

Gary Hutchinson

Comment by Judy Nickson on May 11, 2017 at 4:38pm

We have signed three leases in Lee county in the last month...I think things are really picking up.

Comment by David Ammons on May 11, 2017 at 4:13pm

Comment by BGP 1 hour ago

I will call you.

Comment by David Ammons on May 11, 2017 at 4:09pm

to Luke Alexander 2 hours ago

Thanks agaon.  I have a day job NOT in this industry and am just beginning my education. I am Executor of an estate with 30 acres not under lease; I am conferring with my probate attorney on the document/title side.  Haven't yet decided to lease or sell.

Comment by David Ammons on May 11, 2017 at 4:05pm

Gary Hutchinson from 4 hours ago.

Thanks for the advise & reference to Tennisdaze comment.

Comment by BGB on May 11, 2017 at 2:03pm

David,

I have bought interests in several tracts in your general area recently and paid substantially more than what you have been offered.  If you want me to give you a bid, feel free to reach out.  Phone is 832-390-6020.  

Best regards,

-Brad

 

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