As with many of you, I inherited-which is where the similarity may end-a slew of Royalty Interests in Reagan County, TX. According to Pritchard and Abbott, I have 54 leases in Reagan County totaling $1,880 in taxable value. Of course, I have been receiving solicitations to sell, since my Mom died in 2006. But, more recently, I have been receiving 5-figure offers with fairly specific details about the ownership responsibilities they would like to relieve me of. And, I am at a time of life when a big check would go a long way towards relieving me of things like heavy dental bills, and aggravating home-maintenance costs.
Just for the sake of full disclosure, I should probably mention that in the intervening years since my inheritance became official, I have been pretty oblivious to reading a check stub, or even signing and mailing division orders. Why should I waste a stamp on the possibility of a $5.60 check every year?
But, with these 5-figure offers, I have suddenly become very interested in the oil and gas business, if only to get myself out of it. So, I have been scouring websites, and using the apps, and getting at least a little bit more informed as to what's going on. One of my tinier interests is a lease/well that was recently completed, and has produced over 100,000 barrels in the last 9 months, from what the RRC tells me.
So, my question is, besides doing a sort of e-bay thing and seeing what happens, what are the most significant numbers that I could multiply to figure out what I'd be willing to accept as fair value, should I decide to sell? Net Mineral Acres times XYZ? I'm getting close, but I had to ask, just in case someone here could help me out a little. As far as I know, all of my interests are underground, and it's probably not worth me making a trip to Big Lake to find the original documents. Maybe. I've spoken to one of the fellows who made an offer, and he said my titles were clear, and the geology supported the offer in question.
Many thanks, and I hope I'll get to tell you how I got to play cowboy for real (!) when we'd stay with my grandparents in Upton County every summer. I live in Philadephia, now, and I'm sure you can believe it's different.