Has anybody in the last 30 days had offers to sell mineral rights only in North Martin County?
Thank you for any information!
Hi Patty - What’s the legal description for your mineral rights? That may help others determine if they own very close to you or let others chime in on going rates.
This property is 3 miles North of Stanton, Section 46, Block 36, that I’m asking about selling mineral rights/acre.
Patty, there are 2 Block 36 in Reeves County: Block 36 Township 1 North and Block 36 Township 2 North.
Which one is yours?
Martin County
Patty/Clint:
Based on the description of the direction and distance from Stanton, this should be 36 Township 1 North. While there aren’t any horizontal well permits on that property yet, it is a great area in general. The going rate depends on the royalty rate the minerals carry, but it should be well over $10,000 per acre even though it is held by production (HBP) by vertical wells.
Ok, I’m needing an estimate of what the mineral acres are worth. I am aware of 3 horizontal wells 2 1/2 miles away with large numbers of barrels of oil per month.