Just received an offer to purchase mineral rights in Eddy in two locations: Township 18S Range 26e Section 24 and Township 18S Range 27E Section 19. The offers came from Dorado Petroleum. I am not sure who they are.Their offer is $2,000 NMA (subject to 1/4 royalty interest). What does anyone know about these two locations, which are pretty much adjacent to each other, and/or Dorado? There appears to be some producing wells in the area. Any activity going on there to encourage offers to purchase?
Based on the information in the NMOCD, There are 8 Proposed Aggie Wells on Section 24, T18S, R26E and 9 proposed Horned Frog wells on Section 19,T18S, R27E Eddy County . You can go on the NMOCD Well search and give the sec, township,range and county this will give you all wells . If you click on a well when it opens on the right side of the page is a legend scroll down to Action this tells you all current information. Hope this helps Not sure what your mineral interest is but that’s a low-ball number. Last recent offer I received for minerals in Loving was 4700.00 per ma. I have made 5x that in the last 2 months on new wells.
Can someone give me some information on sec 24 25 &35 in township 21 range 28. Any wells permitted near. Curious
What County in New Mexico?
Eddy Co New Mexico, south of highway 180
Okay looking on the NMOCD Well search site, This is the descriptions I looked up Sec 24, T21S, T28E Eddy County ,3 wells currently from 2010 still producing and 1 proposed well, last activity 2019. Sec 25, T21S, T28E Eddy County , 1 well from 2009 still producing today and 4 proposed wells last activity May 2019. Sec 35,T21S,T28E Eddy County, there are 3 Saltwater Disposal wells dating back from 1978 until 2019.
Thank you! Question, does a proposed well mean that it is permitted to drill?
From what I read on the documents these wells had APD’s in 2012 and an approved extension in 2014. If you search NMOCD Well Search you can use the drop down boxes to input your description and this will show you all wells. To view the wells information and files open up the well link, there is a legend on the right side of the page, go to files and this is your well documents. You can also go to Action and this is all current approvals and actions.
Okay, did as you suggested, and I see the proposed wells, and I also see in the same area some plugged wells by a different operator. Are the new proposed wells different type wells than the plugged ones (different depth, etc.)? I need some clarity of what I am seeing. What would these rights be worth, if under active leasse?
The older wells in the section are conventional vertical wells. The new wells are horizontal wells which should give significantly higher returns. (Hence the interest in buying).
1 Like
I replied to your post via email but not sure if you received it. I attached several screenshots of the well page and quick links on the NMOCD site. Please let me know if you did not receive my post..
Sorry, I did not receive your email..checked my spam also. Thanks for trying to help.
Did you open each well link and go to the Quick Links on the right side of screen? Open files and it gives you All the information on the well. You can also go to the Action Status and this will give you the most current activity. Plugged well means no longer active. Proposed wells will have a Spud date if being drilled. I have found many wells drilled in the active link but not updated on the NMOCD Well Page. This is why I search the files and Action Status.
Carl, Did you open each well link and go to the Quick Links on the right side of screen? Open files and it gives you All the information on the well. You can also go to the Action Status and this will give you the most current activity. Plugged well means no longer active. Proposed wells will have a Spud date if being drilled. I have found many wells drilled in the active link but not updated on the NMOCD Well Page. This is why I search the files and Action Status.