Can anyone tell me the going rate per acre for selling mineral rights in Reeves county. I have a small and I mean small piece. I had an offer of $1000 for .12 acres. I've had this for 30 years and only found out about it two days ago. It's in Blk 13 tract 271 wherever that is. Any help is appreciated.
David, I’m certainly no expert. I own some minerals 2-3 miles northeast of you, and I can tell you I wouldn’t sell mine for less than $20,000 a net mineral acre, and that’s probably way too cheap. But if I were you, I’d hang onto it. Linton
Thanks BP and Linton for your replies. Crazy how 2-3 miles can make that kinda difference.
I'm assuming selling rather than trying to lease is my best option seeing I have such a small piece. Royalties would be chopped up so many ways I can't see us making any money. Can you give me your thoughts?
My answer would be a lot different today than it would have been 15 years ago… but I’m sure BP and others here could much better advise you than I. Linton
I generally try to stay out of commenting in Reeves Co. since the vast majority of my work is there, but I am very familiar with that specific tract. I’ve taken several leases in there. I believe that offer is a little too low to sell.
That is small but is there a reason you would want to sell? My opinion would be to just hold on to it and lease it every few years (but I also have been taking leases in there, so I obviously have a conflict there). By the way, are you leased?
Best regards, Mike
No I am not leased. I had a co. make an offer to buy my rights. That is the first and only offer I've had to buy or lease it.
At this point I just want a fair deal or the best deal whether it be leasing or selling.
BP, that certainly is true, but lease bonuses per net are not too far off from his current buy now price. Now, in Section 271, title is a big factor. I’ve had to pass on acreage because It was too hairy.
Well, I’m certainly not more than three miles from David and that’s some of the best mineral interests I have. Mine are small. But if it were me, I would lease it if I could, and I bet he can, for no more than two years at a time. Like Michael says, why sell something you can lease for almost the same price. Heck, even a portion is better than what you’ll get selling it if you lease it every couple of years. But that’s just my two cents.
BP, I definitely agree with that. Lease, then sell if you want to get rid out it. Double dip.
Generally no. A few get high in that area, but that’s usually if significant size and clean title.
I had the same thing happen to me. Short story. My less than 1 acre of mineral rights got leased for $4500. That was 20+ months ago. The oil guys needed enough lessors to get enough rights to do anything. I discovered this Forum after the fact. You hold the cards. The members will help you.
Hey David that makes us neighbors in BLK 13! We have land in 266 and 270. We are currently looking at an offer. Can I ask whom made yours? Still looking at leasing as opposed to selling but have heard arguments on both sides. You can "inbox" me as well. Good Luck
We have also been approached by 2 different leasing/buying companies for our mineral rights. They are counter offering and we're in no hurry.
We own 3.33 acres on the SE/4 of Section 136, Block 13, H&GN RR. Survey.
We really don't know what they're actually worth.
We own 3.33 acres in the SE/4 of Section 136, Block 13.
We were offered $3000.00 per net mineral acre as a one time signing bonus for a 3 year lease.
Let me know what you find out.
take a look at this thread