We have received an offer to lease our acreage in this section for $3k per mineral acre and want to know if anyone is near who can tell us what the offers average here.
Jack Tyler
Jack – your A-1363 is located in Section 1 on the NW edge of the town of Toyah along I-20.
Less than a mile NW of your Section 1, a well is currently being drilled:
CR3 Operating Company, LLC spud 8/23 their C. J. LEE STATE 27 #1H;
389-34440, A-5010. The surface hole location in PSL Block 70 Section 31,
2.7 miles NW of Toyah with an approximate 8,000-foot lateral extending
North from Section 31 through Section 27 with the bottom hole location terminating
in the lower half of Section 22.
Additionally, in the July 1, 2014 Texas General Land Office Sealed Bid Sale, a 155.8-acre tract located in PSL Block 72 Section 28, 1.7 miles East of Toyah – 2.0 miles East of your Section 1 – received three bids ($4,125, $3,294 & $3,269).
Give us a report back on your success! Later – Buzz
Not sure how many acres you have, but as a general rule, I would start at $4500 and look hard at anything of $3500 or better.