I have a friend who has a few overriedes in the eagleford. The ORRI covers approximately 20,000 acres in the eagleford. It is a 1% ORRI. Do these have any resale value and if so who purchases overrides. Or is it totally dependent upon Production? And if so, can an ORRI be sold even tho there is no production on these leases as of yet?
Eric
If he is selling the ORRI, I would be interested in buying. You can send details to ###### if he is serious about selling.
Eric, Yes, ORRI’s have resale value. There are multiple buyers, usually industry professionals who do this. An ORRI can be sold even though there is no production, you’ll likely receive much less for them in this scenario.
I would be interested in purchasing them also if he is serious. We can close in 10 days or less if it is in an area of our interest. Let me know if he is serious.
The Override Covers actually roughly 40,000 acres to date. I can provide you the VoL/Page of the Assignment if you would like. The would definitely entertain an offer if you are a serious buyer. Countyies covered are Fayette County Texas, Atascosa Texas, Dewitt County, Texas and Lavaca County, Texas.
Garrett E. Mann said:
I would be interested in purchasing them also if he is serious. We can close in 10 days or less if it is in an area of our interest. Let me know if he is serious.
We might be interested in all the acreage depending on the operator and their scheduled drilling program for the next three years. We are currently buying and have not fulfilled our annual acquisition budget. So please contact me at 210-863-2020 if they would like to move quickly.