We've owned our tract of land in Culberson for quite some time now, and they started getting gas out of it about five years ago. Now we've been contacted by a company that is offering us $10,000.00 a mineral acre. and within days they're offering $11,000.00, and pushing hard for a sale before this Friday. Just before the price crash this same company had offered us $8,500.00 per mineral acre, but we spoke to a lawyer who just felt it was too good to be true. On the other hand, he didn't know any specifics about the area. Is something happening in Culberson that makes this land so valuable, or is there a buying frenzy that I should cash in on? I should have posted this a week ago when we were originally contacted, but they only started pushing hard yesterday. All Help Sincerely Appreciated.
I've seen the best parts of Culberson attract upward of $15K per net mineral acre (I've even paid that myself), but it depends a great deal on your location. The best part is in the NE corner of Culberson just south of Eddy and west of Reeves. The operator of your acreage also makes a big difference in terms of value. A premium operator will help you to command the best money.
Research on RRC website to see how many new permits have been filed on or around your minerals. You mention gas royalties. Most of the wells that I have seen also produce oil. Check the production and sales to be sure that you have been paid on 100% of the production to date. And NEVER bend to this kind of extreme pressure as it likely means that there is information coming out about wells on or around your minerals. For all you know, the landman is really representing the operator
David, when the operator seeks to buy acres they already have a lease for I take it as a sign that you shouldn't sell because nobody knows better the value of your acres and they will not offer you more than you would get eventually and most likely, substantially less.
No, there is nothing underhanded in the operator wanting to buy you out.
A landman who is not working for the operator who "inferred" he is working with the operator to gain your trust is most likely not breaking any laws either.
What you and everyone else should do is only deal by mail. People tend to hesitate to lie on paper.
If you are dealing with them by phone and you want a really short phone conversation, ask them if they mind if you record the call? Whether they say yes, or no, that is going to be a short phone call. I would much rather do business by US mail.
The wells in the area of your minerals are good gas wells that are also producing many barrels of condensate. This link is for Production Data on the well that runs through Section 48:::
Mike, you friended me. Fat fingers and a phone screen had me hit 'ignore', I think. How does one friend somebody? I'll friend you back if i can figure this out.
Thank you, rw. Right now I've only had one conversation on the phone with the landman, everything else has been e-mail. I do, in fact have the original phone message inferring that he was working with the operator, without actually mentioning the name of the company, recorded and quite inadvertently saved.
Mr. Taylor - Not telling you what to do but I wouldn't allow some group to pressure me into a decision with a deadline. If someone truly wants to purchase your minerals and they are reputable, then they will work with you.
A wealth of information. BTW, admire your hat, can't quite make out the weapon-of-choice though. From the picture I can't tell if it even has a hammer.
