A family member owns 60 acres of mineral rights in Loving County (Delaware Basin), specifically Block C24, Section 24. My questions are as follows:
1. How can we secure a copy of the Abstract? Is there a specific website? We have the Abstract number.
2. What is the average current offering for the sale of mineral rights? I found RSP Permian paid $48,157 per acre earlier this year. We have been contacted by two companies seeking to purchase in the $30-40,000 per acre range.
3. We leased the property about 3 years ago to RSP Permian and the first lease payment and royalty checks are about to be paid. What are the current average lease and royalty payments on a per acre basis.
Thanks for your assistance.