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, NM 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 isnt a lot of weels in that area. Its not likke inthe 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 inthat area, would be Section 16, to see what acreage sold for a the the auction, that would give you a good idea. Im not sure how to go aboout that, since I usually look at Sales coming up, I dont think I have any archived in there. You are North of Lakewood. Find your contacts to the State or find Operators inthat area and just call them and ask them.
I would guess that people would be willing to pay you around $4k/NRA for that. That would be a speculative amount hoping that more Yeso wells are drilled there…sort of a risked bet that its really worth $20k/NRA and not the near zero amount that it currently appears. I’m guessing a little bit, the two older wells in the W2 of Sec 6 might be (i.e. should be) viewed as a negative.
NRA being equivalent to an NMA leased at 1/8th.