We have been offered 1000 per acre ( Block C8 Section 25) 25 percent royalty.
161 gross acres - 40 acres mineral rights @25%
The land appears to be 8 or so miles south west of the City of Pecos.
The landman stated this was "top dollar" and they are after the wolf bone play.
Is this a fair offer? It appears to be... but we have no clue.
What are to odds of this tract of land actually producing? greater than 50%?
Any guesses as to what might the average production might be IF they hit something?
Thanks in advance for any help.