I am trying to assess the value of some inherited mineral related assets in NM and TX. Regarding this particular asset, I believe I own .08984375 ORRI in the NE/4 of Section 28, T18S, R29E in Eddy County. I am a non-expert who lives in the midwest. Any help/suggestions would be appreciated. Thanks.
First things first. Since it is ORRI, it gets its life from an underlying oil, gas and mineral lease. First determine if the lease is still in full force and effect. One indicator is “are you currently receiving revenues”. Beyond that you would be best served by hiring an O&G attorney to check it out ($$$$). Or you can just wait, if your ORRI is solid they will find you. Since ORRI’s die with the lease, they don’t typically bring as much as do mineral interests. Good luck to you.
Not an attorney. Quite sure the lease (FED LC-0067348) is still in effect.
I don’t know what to make of a .089 ORRI. That’s either unusually large if that is a decimal fraction (8.9%) or very small if it is a percentage (.089%). In line with what Bully said about “receiving revenues”, you should have been getting checks from Yates/EOG for the Dixon Yates wells. If you weren’t getting checks then either your revenue is in suspense, EOG doesn’t know that you inherited this from somebody, or else you don’t own anything. I only glanced at a fraction of the courthouse docs but there are all sorts of people named Miller with interests in this section.
Mewbourne just drilled a BoneSpring horizontal into Sec 28 (see below). 240 acres dedicated to that well, 160 in the NE/4 so you should have 1/3 of whatever your interest is in the NE/4 in that well. That is a good thing if you own something there. Assuming you haven’t heard from them prior, call Mewbourne division order dept and ask if they show you (or whomever you inherited from) owning anything in the Pavo Frio 29-28 B2G 001H. If they say no, then maybe its time to hire a landman/attorney. I’m no expert but I think that is what I would do first.
This is not the greatest area of the Delaware. Very far north. Little chance of any Wolfcamp. But still worth something. If, as you reported, you have an almost 9% ORRI in 160 acres…then you have 115 NRA and that is worth at least mid 6 figures. But it could be far far less depending on what oil companies think you own.
Thank you. This is exactly the type of info I need to get a handle on what I own.
Thanks much. These two responses helped.