Leasing offers in the area

New Mexico Mineral Rights Lea County, NM
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Township 13 South, Range 38 East Sec 20 … Just a follow up. In 2021 we were offered a $350 per acre bonus 3yrs with a 2 yr option and that went away. Now they are back at $500 per acre 3yrs with a 2 yr option and 1/4. This appears to be an area without much activity but wanted to see if anyone else had better offers or info on this areas potential. Thanks

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We are in that Township and Range and haven’t been contacted since holding out in 2021. Who reached out to you?

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Elite out of Midland. Here is the full description All of the N/2SE/4 of Section 20 They apparently ran into problems in 2021 and are just now being given the go ahead to continue leasing so maybe they will be getting in touch.

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Thanks. The wells drilled in that area have had mixed results so far, so it might be becoming a take what you can get situation.

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Hi Joe,

We have section 23 T13S, R38E leased and producing 4 wells with a new application to drill. Section 23 has been very productive in oil and gas. May want to counter the 500 and the 2 year option. At least double. We don’t do 2 year options. If their serious about drilling the company should be willing to negotiate. My 2 cents.

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Great info. Thanks Rick!

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I have rights in that section too! But I have not been contacted.

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I don’t think we’ll be leasing for $1000/nma here. We are on the edge of the play. Yes, Steward drilled good wells in section 23, but there’s a reason they’re not willing to extend their leasing program further west. My two cents, but I don’t care much about the bonus as I do getting a 25% royalty and getting it drilled.

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Hi Joe, I leased my % in N/E 1/4 of Sec 18 T13S R38 E through Elite in Midland to Vader production?? out of Dallas/Ft Worth in the fall of 23 for $350/acre with a 2yr option. I don’t know who else is on the deed with me but I did find out there are a couple of wells proposed in sec 30 of the same address.

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Hi…we also have an interest in Section 18 that is under negotiation. Nice to meet you.

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Nice to meet you Rick5. Are you working with Elite Title?

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Hello Again,

Negotiations are confidential according to the attorney so I cannot say.

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Hi, Would you have a contact name / phone number for Elite. We are in Section 18 also and would like to lease. Thank you

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[quote=“r_gerard, post:13, topic:75532”] Hi, Would you have a contact name / phone number for Elite or Vadar. We are in Section 18 also and would like to lease. Thank you

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Mason Vasquez/ Elite 806-223-3702