Lea county minerals in 18-38


I got an offer from a company last week looking to purchase minerals from me. I was curious if anyone else has received offers, and if you don’t mind, the price. Not sure what going rate is right now for this area. I am interested in probably selling half, as I could use the money currently, so I want to make sure it’s a good deal.


i recd an offer for $39,000 per nma about a week ago


how many acres are involved?


Would you mind sharing who made the offer?


Would you share who made the $39,000 per nma offer?


18 38 should be fairly clear cut. There hasn’t been an active producer drilled there in years. You are either in the SW of the township under the 70-yr old Hobbs GSA unit or you are not. Boom or bust. If you are, well then you should have flat steady production and a long history of getting paid by Oxy…and thus somebody should be offering you, I don’t know, five times your annual check stubs or something. And if you are not, well then it’s not worth a whole lot. Anything else would be a serious headscratcher.


we own ORRI at 1% on almost 4 full sections 19S 32E 22 23 26 27 been offered just under 2 mil. could you show me area on your maps?



I’d just ignore the green or red dots (vertical oil/gas wells). The lines are horizontal wells. If the line is dotted brown then its a permit. It looks like there is more/less just one old EOG 2nd Bone Springs horiz on your property. Chisholm is drilling to the East. XTO just permitted a number of wells directly to the West. Most of those horizontal wells are 2nd Bonespring sand.

4 sections = 2560 acres x 1% ORRI = 205 nra. For $2m? $10k/nra doesn’t sound terrible based on where this is. I think you more/less have 2 landing targets there. BSP1 and BSP2. Which really limits your value relative to much further south where there are 6-10 targets and things may be crazy expensive. I guess if wells start coming in like the COG Geronimo well, then that’s a low offer. Easy for me to say, not my $. Good luck.


From someone who knows about nothing about wells, I can say WOW! Looks to me like it would be very good property for anyone!


Does an ORI justify the same price as a RI?


In speculative/exploratory places an ORRI is way different than a leased mineral. You have no executive rights. Lease expires and your ORRI is worth zero.

In SE NM most of the ORRIs are held by multiple wells. Where anybody is buying ORRIs they are also expecting additional drilling. The leases/ORRIs are extremely unlikely to expire. So, I would think an ORRI is just like a royalty interest. Largely cost free % of the revenue. Convert to nra, expect to command similar pricing.

That’s just my assumption/rationale, might be totally off base.


thanks for your input and maps NM one section is a little short but we have 2330 acres which I believe makes 186nra offered 12,000 today with more offers on the way will only sell half but like Don says looks like possibilities. Again thankyou!!!


Oh I forgot EOG has 3 wells and Apache 1


long day we have 2430 oops!


ok somebody set me straight, we have 2430 acres at 1% Orri how many NRA is that


2430 x .01 x 8 = 194.4


thanks again NM that sounds better yet!


my CPA brother tells me have 2330 acres drat


10k/NRA is in the ballpark from my experience, though I’ve seen higher, depending on the area and permitted wells.



where can I get a map like this, showing Township 21 South, Range 32 East located in Lea County, New Mexico? Thanks!