These wells in this area are not just oil wells but oil and gas wells combination. And there are some very good wells here. There are 2 formations being targeted in this area...the Wolfcamp and the Wolfbone(Trend area)...And there are possible other productive formations below these 2 formations. If these were my 5.8 acres and I had to sell them now I would be asking at least $75,000. The higher the price of oil gets the more this 5.8 acres will be worth.
THIS IS JUST MY OPINION
The producers/operators in the area that have done a majority of the drilling of these wells are Clayton Williams, COG Operating, Rosetta Resources, Comstock Oil & Gas and Energen Resources.
Steven, if the minerals haven't been made subject to a receivership lease yet, I'd call the Reeves County District Court Clerk immediately and ask them if they can provide you with any information about the pending receivership hearing. You'll want to inform the court that you've been notified by a mineral buyer that your minerals are subject to a receivership hearing, and that you are the owner of the minerals.
Lease and purchase rates have gone up dramatically in Reeves County over the past year, and you could probably lease the minerals for what your purchase offer is for. You could also try reaching out to one of the forum sponsors to see if they have any advice. Best of luck!
I own 20 net acres of Non Participating Royalty Interest (NPRI) in Reeves County, Block 57, T3, Sec 30, 32, 40, 42 and am considering selling. No current production, but there are 6 Permits currently, one of which just sent a Lease Ratification Notice for a consent to pool acreage by the leasing/land agent. Any ideas as to market value are very much appreciated.
I am not sure if 150 is HBP. It is one lease, does that matter?
I am amatuer on looking at these well permit records but there are good wells short distances away to the N, S, E and W. So it seems like there would be really good risk/reward to drill more here.
How do you know it was a middleman? They normally don't tell people that they are a middleman. The $27K probably wasn't a real offer. Sounded way too high in the first place.
Your referring to deals where an operator has sold their acreage position after drilling several wells proving reserves and additional infield drilling locations.
I still believe your offer for $27K is WAY TOO HIGH!! No permits. HBP.
I just found out I was misinformed about the net mineral acres. The number I was given was 75% too small, so the offer was for ~$6,000/ acre. Should get more bids from other interested parties soon, will update what they are here.