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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: 202
Latest Activity: yesterday

Discussion Forum

What Comes Next?

Started by Luke Alexander. Last reply by JRW yesterday. 9 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

Full Disclosure

Started by Terrie Carroll-Taylor. Last reply by JRW on Tuesday. 2 Replies

Does anyone get full disclosure before they sign a lease? We have been getting offers for land in Sections 23 and 26 in 24S 34E...land we didn't know that we owned (still not sure). We just want a…Continue

Have not received a 1099-misc

Started by Russell Ensley. Last reply by Luke Alexander Feb 12. 1 Reply

I signed a lease last year with Odyssey Land & Acquisition last year but have not received a 1099-MISC. Is it required or standard practice for Mineral Acquisition(landmen) to send out 1099s? Continue

Full Disclosure

Started by Terrie Carroll-Taylor. Last reply by William Douglas Archer Feb 11. 1 Reply

Does anyone get full disclosure before they sign a lease? We have been getting offers for land in Sections 23 and 26 in 24S 34E...land we didn't know that we owned (still not sure). We just want a…Continue

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Comment by Kirch on August 4, 2017 at 9:29am

Carl,

You can view County sections, township & ranges on the New Mexico State Land Office site located here;  http://landstatus.nmstatelands.org/OandG.aspx

If that shortcut doesn't load go to www.sonris.com and click on

GIS Access to see the map

Comment by David A. Barbour on August 3, 2017 at 2:15pm

You can look at http://mapservice.nmstatelands.org/LandStatus/

Put in the Township and Range.  

Comment by Carl Alexander on August 3, 2017 at 1:12pm

I have received some leasing interest in 12 1/2 NMA located at South 1/2 of Section 29, T15S-R36E, Lea County, NM.  This would be just north of the Plains HWY and just east of the Tatum HWY, where they intersect.  Is this an area of interest and activity, and what would going market leasing terms be in this area?

Comment by Carl Alexander on August 3, 2017 at 12:49pm

Would someone provide me with an internet site that shows Lea County sections, townships, and ranges?  I have some rights currently under lease, and I would like to see where they are located.

Comment by Bart Barton on June 21, 2017 at 9:01am
Comment by Archie Smith on June 19, 2017 at 4:05pm

I am new to both New Mexico and to the lea county group.  I own the mineral interests in numerous small parcels in Lea Co that I need to fully evaluate. Can someone direct me to the state web site(s) where I can find the current and past drilling and production data for my properties.  Some are leased but most are not leased -- but I am receiving queries regarding leasing or selling.  I do not intend to do anything before I am able to get a hndle on what I have.  Thanks in advance for your assistance. Archie

Comment by J Joyce on June 8, 2017 at 2:36am
David,
Did you solicit lease offers? I've received one buy offer this year and one last year, but have no interest in selling. I am interested in leasing so am wondering if you or anyone else here has had any experience cold-contacting companies or landmen for lease offers.
My mineral is northeast of Lovington, T13S, R37E. I and two siblings own 100nma in sections 26 and 27.
Comment by Bart Barton on June 6, 2017 at 1:12pm

David, I once sold minerals in the Midland basin.  This was back in the day. I took the money and bought a lease for $40/ac.  Took a chance on some information I’d uncovered.  Sold the lease for $3000 ac two years later, while retaining 5% override.  

I think people fail to take into account the opportunity cost and the time value of money.  I know you get it, though.  

Comment by David Ammons on June 6, 2017 at 12:32pm

Gary,I am not selling as I considered before; only leasing. I referenced the purchase price just for a toss up information. 

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.

 

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