I agree with Linton in that if we knew where your properties were located we could probably send you more than just general information. If you want to send the legal descriptions privately, click on our names wherever they appear in BLUE and send us invitations to become A Friend on The Forum and you can send them that way.
There are going to be "new wells" in Reeves County and more than a dozen additional West Texas Counties for years to come. As to whether the ones near or including your properties are going to be the huge producing ones you keep hearing and reading about would be all but impossible to tell until they are actually drilled.
I usually advise people to not sell, but have learned over the years that sometimes they have a reason to need to, like medical bills or getting somebody through college.
If you want to take advantage of the currently tremendous offers you are receiving just to have some wild money, then perhaps you should think about only selling a part of your interests. Just remember that you're going to have to pay taxes on whatever amount of money you end up with so don't go blow it all on something you really could have done without.
And be extremely careful about who's offer you accept and have an experienced Oil and Gas Attorney review every scrap of paper they send you BEFORE you even verbally agree to anything. There are any number of scam artists out there trying all sorts of ways to separate the inexperienced from their interests. Sometimes even using the inexperienced owners' own money to do so.
You are correct in saying that the offers will not always be there and they could go away with news of a bad well, but that is not likely. You will also be asked for information by a ton of people on here who try to buy minerals. I'll private message you some information on offers nearby in Reeves so you can make sure you are getting fair offers.
Brenda, Based on the dozen's of properties I have evaluated in Reeves, Pecos, Ward, Lea and Eddy Counties, here are some guidelines:
If you inherited, are leased, have a family to share long term income with, don't sell but clean up your title.
If you prefer some cash now in exchange for long term income and can walk away without looking back, educate your self as to what is a FAIR MARKET VALUE as defined below.
FAIR MARKET VALUE is the transaction terms acceptable to an EDUCATED seller and a buyer KNOWLEDGEABLE about its risk and reward options and where neither party is acting under duress.
Being EDUCATED, goes far beyond "what a buyer will pay" but includes the science of the physical asset owned and the heartfelt desires of the owner that will be given up or realized by agreeing to a transaction.
Buyers love to take the place of owners at a discount because they are EDUCATED and know what the Knowledgeable buyers will ultimately pay. It is their job. Don't disrespect them but know your property potential better than they know it.
bottomline; If you are not an educated seller, your are not going to be able to find a knowledgeable buyer through arithmetic.
Silverback is going to drill a well in the south half of that section called the Big Fundemental , I was out there three weeks ago and they already have the pad built to drill. Section just to the west silverback has a very good well The Williams 4-53 2-H. They know what’s there. I’ve had three letters in the last week wanting to buy in same area. Would never sell minerals unless you need to , production might last for many years. Do you know what part of the section your minerals are in.