Hey David,
As a buyer/adviser, there are a couple key decision points we look at first when evaluating an interest; Location (geology), offset production, operator, and permits.
- Location: You are sitting on good rock, no doubt
- Offset Production: The wells around you (Diamondback and others) have been decent, nothing super.
- Operator: Diamondback is a good operator
- Permit: The Diamondback permit is recent and designated horizontal. Good signs.
You are in a strong position and can command a good payout. Being an educated seller is very important, and it seems you have at least a good idea to where you wouldn't get fooled.
As James said below, throw away any offer under $10k per net mineral acre, that is great advise.
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