Overriding royaltys in Lea county


#1

We have been offered a great deal of money for 1percent interest on 2400 acres on federal land in Lea county NM and have noticed alot of activity with with water permits in local newspapers anyone have any knowledge of whats going on?


#2

Lea County is very active with oil and gas activity. Are you sure those are not oil wells? An overriding royalty will be very valuable. Explore the New Mexico OCD website and find permits on and around you acreage.


#3

we have 4 wells currently producing , FED AW 2-3002530975-LUSK FED 23 -2 3002536720 LUSKFED 23-3 -3002540166-LUSK FED22-3002535590 . I really dont like computers as you can tell the thing is we have been getting about 240 dollars a month and within last 9 months had several offers with the last one being over 500K leading me to believe that big things are happening.


#4

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#5

thanks for your reply dan. they have been offering for last 10 mos 2 da ys ago another offer of 690k but not really interested in selling at this point by the way they started at 150k there are 6 of us holding 1% of 23 royalty acres i guess overriding royalies are quite valuable.