Does anyone have an idea on the going rate for mineral lease bonus per acre in Reeves county in general? Or around Pecos or Toyah, Texas especially?
Our old lease expired a few months ago. No serious offers since then. And few in number. Trying to get a feel for the market.
Tommy-Joe,
It’s all about the reservoir, a good reservoir engineer would be a good bet. Some areas are “known”, some, like yours are not, except for knowledge that a geologist could determine.
A lot of times some formations are “passed by” for the present but may be “viable” in the future. As your lease has expired, I recommend that you spend some to find out “real possibilities”. Hire a geologist to determine what you “May Have” and, if results are optimistic, find a reservoir engineer to verify “potential”. The cost for a geological evaluation would be the best initial option. If your property was “leased” but not developed, it is an optimistic possibility that something could bear fruit in the future.
Stephen, did you know any one in particular?
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