N/2 if Sectiom 5, Township 24 South, Range 28 East


#1

Just inherited this piece of land from my grandparents. I have no clue what this stands for or means. I don’t even know how many acres is on the lot. Where can I get this info? Any help would be appreciated. Thanks!


#2

There is a lease from Aileen Johnson to Energex signed in 2014. Covering 10 acres (The NW/4 of the NW/4 of the NW/4 of Sec 5). With a 20% royalty. That is in Eddy County records Volume 982, page 1218.

Then the estate of Aileen Johnson chopped up her rights to various relatives in 2018. Those deeds are in Volume 1113, pages 261-266.

My guess is that you got 1/8th of her rights. Its not a whole lot but Matador drilled a bunch of Wolfcamp XY, A, and C wells there. So…hypothetically, if that is all correct…

You probably have the Jimmy Kone 201H, 205H, 202H, and 226H producing on the N/2 of Sec5 . Current total rates for those are around 32,000 bo and 137 mmcf per month.

If you have 20% * 10/320 * 1/8 = .00078125 decimal in those wells.

(32000 ($40/bo) + 137,000 ($1.8/mcf) )*.00078125 = $1200/month. For now, as a guess. That’s going to decline, but that’s something.

Shrug. You definitely want to contact someone at Matador and make them aware of the new deeds that divided up that interest, so checks will come your way. Whoever divided up the interest may have already done that.

I could be wrong about all of this…good luck.