Lea county, new mexico


#1

i have been offered $30,000 per net mineral acre in section 33, T24S-36E . is this a good offer if i consider selling?


#2

mary, all I know is we own 186 nma at 22-19s-32e 23-19s-32 26-19s-32 27-19s-32e all we have been offered is 10,775 per acre.


#3

i would not sell for that amount. just by reading news in forum under new mexico and oermian basis it seems low


#4

no we will not sell for that amount. Tilden capital made us that offer if you dont mind me askingwho made you 30000 offer? we are loooking to sell half and keep the other half for the kids but the price has to be right!


#5

There are some buyers in the area. your expectations in price will determine if you will be successful in finding someone though. 30k is not realistic for the area.


#6

K11 - are you saying 30,000 dollars is asking too much


#7

No I was telling the other gentlemen that commented that he will not see those prices in his area at this time.


#8

I really dont think we would sell for less than 15000 per acre. Like I have said before not in a big hurry to sell.


#9

Timmy, are your minerals leased at 1/8, 1/4,1/5?


#10

we have 1% overriding


#11

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.


#12

Mary has been offered 30k shes in a better area than my 186 nma.


#13

Going to have to agree with NMoilboy. I looked into the maps today, that’s a good offer