Does anyone have knowledge what my mineral interest is truly worth in Lot 03 of Section 06, Township 19 South, Range 26 East, Eddy County, New Mexico besides the typical average monthly revenue method to get a value.
Just like anything, it goes by what they are going for in the area. There isn’t a lot of wells in that area. It’s not like in the middle of the oil fields. However, I have sparingly seen some deeper stuff with good pressure. I would have to do some digging, but you can find the last State of New Mexico sale in that area, would be Section 16, to see what acreage sold for at the auction. That would give you a good idea. I’m not sure how to go about that, since I usually look at sales coming up. I don’t think I have any archived in there. You are north of Lakewood. Find your contacts to the state or find operators in that area and just call them and ask them.
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I would guess that people would be willing to pay you around $4,000 per Net Royalty Acre for that. That would be a speculative amount hoping that more Yeso wells are drilled there… sort of a risked bet that it’s really worth $20,000 per Net Royalty Acre and not the near zero amount that it currently appears. I’m guessing a little bit; the two older wells in the West Half of Section 6 might be (i.e., should be) viewed as a negative.
Net Royalty Acre being equivalent to a Net Mineral Acre leased at 1/8th.
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