Me and my siblings inherited around 33 acres mineral rights in eddy county. We have received a couple of offers and would like to have a better understanding of what it is worth. I own only about 5 of those acres Section 25 NE/4,SE/4 Section 30 Lot1, lot 2, SE/4NW/4 If someone could let me know I would be grateful.
Hey Leslie, will you provide your township and range? Additionally, if you post to the county/state thread your land is in, you’ll probably get more responses.
Is this Eddy County, New Mexico?
Yes, Eddy county New Mexico. Township 23 South, Range 28 East N.M.P.M. Section 25 NE/4, SE/4. Township 23 South, Range 29 East N.M.P.M. Section 30 Lot 1, Lot 2, SE/4NW/4.
You didn’t specify whether it was to lease or sell, but you’re in a pretty hot area. There’s a pretty notable lease comp a section south of yours that went for $35K in March of this year! Seeing as it’s a 1/8th lease it makes a little more sense why the bonus was so high - the lessee basically bought half the mineral interest. Either way, lease-wise I would say somewhere around $15K with a high royalty would be a minimum target; sell-wise, $30-50K would be a good target range.
Your lands are in red:
Can you please tell me where you found the data on the lease bonus/acre amounts shown in your pic. Thank you! Bert.