I have been approached by multiple companies offering to purchase my mineral rights in Culberson County. My property is currently under lease with Cimarex until October 2015 but they still want to purchase the property. The best offer has been $15,000 for 50% interest in 10.66 acres in township 1, block 59, section 34. I have no idea if this is a good price and I've had a difficult time finding a land appraiser in the area. Does anyone know what comparable pieces of property have sold for in the area? Thank you!
That is about $3000 per net mineral acre. It all depends on how hot your area is. If you are under lease in a hot area, that is too low.
I noticed that you said "land appraiser". Note if you sell "Mineral Rights" you still own the land, you still pay the land taxes. I own 10+ acres in block 59 as well, and have been approached to sell mineral rights as well for 3000.00 as Wade indicated. I haven't agreed to sell and willing to wait a little longer because the area is just starting to have companies look at the potential.
Thank you for your replies. I was wondering; do either of you know how to get the mineral rights appraised? What would you believe a fair market price would be per acre currently?
Brandon, Bruce,
Our company has paid more than your current offers in Block 59, and we know the area well. Please email me at sean@thebellomygroup.com or call our office 214-953-0188 if you'd like to discuss this privately. Thanks.
Who was your offer from?
Bruce Joiner said:
I noticed that you said "land appraiser". Note if you sell "Mineral Rights" you still own the land, you still pay the land taxes. I own 10+ acres in block 59 as well, and have been approached to sell mineral rights as well for 3000.00 as Wade indicated. I haven't agreed to sell and willing to wait a little longer because the area is just starting to have companies look at the potential.
Bruce, My name is Tom and I just joined up with the Culberson county forum. I notice with are in almost the exact same area (BLK 59 TWP 1). I just sent a discussion regarding "surface lease agreements" Have you received that yet, or was that part of your original lease agreement?
Regards Tom
Bruce Joiner said:
I noticed that you said "land appraiser". Note if you sell "Mineral Rights" you still own the land, you still pay the land taxes. I own 10+ acres in block 59 as well, and have been approached to sell mineral rights as well for 3000.00 as Wade indicated. I haven't agreed to sell and willing to wait a little longer because the area is just starting to have companies look at the potential.
Hello Tom, Thanks for your message. I had leased the surface for "exploration" almost 5 years ago. It was to explore and test only but not actually drill. The lease expires in February this year and I will not extend the agreement. Back when I leased it, it was 200.00 per "surface" acre for survey of mineral possibilities. The lease agreement had provisions to protect my mineral interest, and at the end of lease, the surface was to be brought back as close as possible prior to lease.
Thomas Slattery said:
Bruce, My name is Tom and I just joined up with the Culberson county forum. I notice with are in almost the exact same area (BLK 59 TWP 1). I just sent a discussion regarding "surface lease agreements" Have you received that yet, or was that part of your original lease agreement?
Regards Tom
Bruce Joiner said:I noticed that you said "land appraiser". Note if you sell "Mineral Rights" you still own the land, you still pay the land taxes. I own 10+ acres in block 59 as well, and have been approached to sell mineral rights as well for 3000.00 as Wade indicated. I haven't agreed to sell and willing to wait a little longer because the area is just starting to have companies look at the potential.
Hello Sean,
I have been called and ask to sell my mineral rights and was given a figure of 3000.00 per net mineral acre. how do you determine what the price is or should be for a area. I know drilling has started in the northern portion of block 59, so it could happen in the southern end as well.
Sean Bellomy said:
Brandon, Bruce,
Our company has paid more than your current offers in Block 59, and we know the area well. Please email me at sean@thebellomygroup.com or call our office 214-953-0188 if you'd like to discuss this privately. Thanks.
Bruce and All Culberson Neighbors
I am new to all this Oil and gas, I am trying my best to understand and evaluate all aspects of this new venture. At the time I purchased my property (BLK 59 TWP 1 NW) I had no thoughts as to the oil or gas, and as "LUCK" would have it! I am a proud father of 10.5 NMA and 21.5 Acres of surface rights. But I am running into a lot of questions I cannot find the answers too. I did however lease my oil, gas and minerals rights to a 5 Year contract with 1/5 royalties which is due to expire May of 2015. After reading some of the forums, I noticed that some landowners are not renewing, Is there something I should be looking out for? I would appreciate any answers or directions I can get. I have many more questions if my Neighbors are interested in helping. Thank you in advance for your time
Tom
Tom,
Send me an email and I can update you.
rblinkenhoger@yahoo.com
Rick Linkenhoger
Hi, I have 50 acres in AB2327 BLK 82 SEC 24. I checked the GIS system, and it showed a well permit in my section. How can I find out more about what's going on in my section? How can I find out my NMA? Thanks, and good luck to all!
Vonnie,
Welcome to Mineral Rights Forum.
After pulling up Culberson County A-2327 on the GIS map I'm not seeing what you are seeing. Can you give me the API # of the well permit you are referring to?
2 different Maps of Culberson County A-2327:
AND...................
Clint Liles
Vonnie Hawkins said:
Hi, I have 50 acres in AB2327 BLK 82 SEC 24. I checked the GIS system, and it showed a well permit in my section. How can I find out more about what's going on in my section? How can I find out my NMA? Thanks, and good luck to all!
Perhaps I was mistaken. It just listed the section, with an alternate name. So if that's the case, my apologies...just figuring this out. Thanks for your help!