I have been offered $30,000 per net mineral acre in Section 33, Township 24 South-Range 36 East. Is this a good offer if I consider selling?
Mary, all I know is we own 186 NMA at 22-19S-32E, 23-19S-32E, 26-19S-32E, 27-19S-32E. All we have been offered is $10,775 per acre.
I would not sell for that amount. Just by reading news in forum under New Mexico and Permian Basin it seems low.
No, we will not sell for that amount. Tilden Capital made us that offer. If you don’t mind me asking, who made you the $30,000 offer? We are looking to sell half and keep the other half for the kids but the price has to be right!
There are some buyers in the area. Your expectations in price will determine if you will be successful in finding someone though. $30,000 is not realistic for the area.
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K11 - are you saying $30,000 is asking too much?
No I was telling the other gentlemen that commented that he will not see those prices in his area at this time.
I really don’t think we would sell for less than 15,000 per acre. Like I have said before not in a big hurry to sell.
Timmy, are your minerals leased at 1/8, 1/4, 1/5?
We have 1% overriding.
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Mary,
I’m assuming you have 25% royalty and thus that is $15k/nra. That’s a low-ball offer for acreage 15 miles west of you. However, take a look at the BLM lease sale prices for Sept 18 for 80 acres in Section 33. $301/acre. That’s for a BLM lease… so effectively a normal 25% lease PLUS a net royalty acre on top of it. For basically zero. So, yeah, I’d consider $15k/nra to be a good offer.
Mary has been offered 30k. She’s in a better area than my 186 NMA.
Going to have to agree with NMoilboy. I looked into the maps today, that’s a good offer.
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