Eddy County S2 R18 T25

Got a lease offer of $250 NMA 3 year 1/5th. Gosh that seems low. Any thoughts would be appreciated.

First offer rarely the best offer…so maybe you can work them up.

I put down San Jacinto but intended to put down Brazoria. 30 NMA. Wondering what I could expect for that mineral interest. Also have a couple hundred NMA in Chambers.

Please post your questions in the relevant counties.

We inherited my (landman) father’s minerals in TX and NM 14 years ago, and have never accepted less than a 25% interest, usually with no cost associated. We have a small amount in Brazoria, but no current leases or activity. The first lease we negotiated, we accepted $250, but have never accepted under $500/nma after that. We’ve never been hurt by not being in a hurry to accept early offers. When several companies are interested, they’ll often compete. You can look up active & permitted wells in your section and surrounding sections on both the NM OCD well search and gis sites, and the TexasRailroadCommission search & gis sites. Good luck.

Thank you. My last lease was for $250 but is open now.

I hope your New Mexico interest is in the Delaware Basin. I have interests in Eddy County as well