Hi everyone, I own 1/6 of two sections in Lea county. Looks like good location anyways, I am super new to all this and the email with an offer was we are looking at $25,000.00 range? Do you think he is saying per acres or saying that is gross or total amount offered?
It would be helpful to know where you’re located and how much you own for forum members to help advise. Typically they’ll tell you their offer is per net mineral acre or net royalty acre. If they just told you a number, that might just be the lump sum offer. Hope this helps.
Thank you for the information. I own 1/6 in T14 R 33E Sec. 35 S1/2 AND T14 R 33E Sec. 33 E1/2 Any input would be great. Thank you
Need to know how many acres you have in your area.
Hi, thank u for helping. I think 320 acres in each section.
If you own 1/6 of the two 320s that comes to 106.66 Net Acres. This is an older oilfield outside of the hot Deleware area. I doubt the offer is for $25k/acre up there, which would put you at $234/acre = not good. If it is $25k/acre in that section Township and Range, I would say sell it before they realize their error.