I am in the process of probating my Mothers will in New Mexico. We are probating (6-8 month time frame) because we own the mineral rights to an est. 320 acres in Section 15, in Lea New Mexico. We have had a lot of calls to purchase the mineral rights (1/4 profit), but since it wasn’t probated we leased the rights for three years. A new company is calling saying they will still purchase the mineral rights even with them leased for 30,000 an acre. The land had four wells drilled on it in 2019, but they haven’t started producing yet. I’m stuck between trying to decide if we sell or hold on for royalties off of the 4 wells. Any advice would be greatly appreciated. I really don’t know what I’m doing.
If you give a more complete description, folks may be able to help. There are many section 15s.
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