My family has inherited mineral rights NW/4, Section 4, Block 36, T5N. There currently is a multi-year lease at 23% in place with CGS. VATEX has made a purchase offer for the mineral rights. What is the level of activity in that area?
CGS has permitted three hz wells approximately three miles to your west. This link will open the RRC map viewer on one of those wells.
Thanks! Good to be able to see the parcel on a live map. Looks like two plugged oil wells and a dry hole. Any thoughts on selling vs. keeping?
You’re welcome. Click on the magnifying glass icon next to the “New Topic” blue rectangle at the top of Mineral Rights Forum and enter “CGS Operating.” Read as many of the topics as you will to get a better appreciation of what’s going on.
The historic well logs from the wells on your section may reveal to trained eyes that your minerals could produce from the same zone(s) as CGS/EOG’s new play in Gaines and Dawson counties.
What could the minerals be worth if several hz wells are drilled on/through them? Would you sell any other property which came into your possession without getting other offers unless it were a ridiculously high sum? At the top of this page under Directories>Mineral Services, I see that there are three mineral valuation companies and three mineral purchasing companies listed. Perhaps contact all of them for suggestions.
Thanks! Will take a look at the things you suggest. I appreciate your help.
You are most welcome.
Hello b_bovenzi and congratulations on the recent offer. May I ask what they offered you per acre?
This topic was automatically closed after 90 days. New replies are no longer allowed.