Our offerings in this lease are in Section 6, Township 20 R39E 104.7 acres in this patch and the other one is in Section 31, Township 19, R39E 6.7 acres
Offer started at $250 and 3/16 Royalty. Which I basically turned down. They came back with $400 at 1/5 Royalty.
Doing my research shows those numbers to be VERY low. Probably should be in the $750 - $1500 range per acre with 1/4 Royalty.
We are willing to go a little lower on the bonus for a higher Royalty.
Does ANYONE have an attorney in either Hobbs or Lovington? We are going to have to probate my father's will with LEA county. We have already probated both my great grandparents and grandparents will in Lea county already. My Dad died a year and a half ago. We are finally getting around to probating his will. IT IS cut and dried and normally we probably would not have probated, as it all goes to my Mom, but to clarify the mineral rights, probating his will seems to be the best legal way to make sure it's filed properly.
After that's done, we will probate his will in Lea county.
Last we will file a quiet title suit in Lea county. That will clear up any questions of ownership of ALL the mineral rights we own. In New Mexico, Oklahoma and Kansas.
I've read all the current threads and as I've said, it seems that $400 per acre is a bit low. As is the royalty payment as well.
Two steps forward, one step back.
If anyone has any current offers, I would love to hear the over all offer per acre and royalty. Don't want to leave a bunch of money on the table.