We own 53 acres in Culberson County (43 and 10 acre parcels), which on one parcel sets a gas well operated by Cimarex. The legal descriptions are:
AB 2297 BLK 59 SE/4SE/4 SEC 40 TWP 1 T AND P RY (Street Sense 40 Unit No. 1H sit on our property)
AB 2293 BLK 59 NE/4SW/4SW/4 SEC 46 TWP 1 T AND P RY (I believe we’re pooled into Stone Street 46 Unit No. 3H)
We have always received unsolicited inquiries to purchase our mineral rights (26.34 NMA), but over the past two years, the offers have climbed dramatically. They started out at about $250,000 and now range over $600,000.
The last “high end” offer was bumped up about $100,000 after I turned them down and the agent conferred with the energy company’s petroleum engineer.
According to the GIS maps, BLK 59 SEC 40 and SEC 46 look relatively barren of activity, compared to the other SECs and BLKs around them.
Does anyone have any idea what is going on in BLK 59? It definitely feels like the “experts” know what is going on out there and we don’t have a clue, hence the ever-climbing offers. Getting ready to put in more wells? Lay more pipeline? Build a water facility? We haven’t been contacted by Cimarex or Chevron.
Any input would be greatly appreciated.