Hi, I posted the other day about Mewbourne oil activity in Lea County - in particular Querecho 23/26. A relative received a call from Milestone Resources wanting to purchase. Have no clue does anyone have any information on them? Thank you.
They are one of a huge collection of folks who might buy minerals. I don’t think they are special or awful, but I also know less about folks from Oklahoma.
Im not sure what was said in the other thread, but there are I believe 5 recently drilled wells on the Querecho unit and a rig drilling the 6th as we speak. That have yet to produce. So you would hope that your/relative’s internal evaluation of what you own reflects the increased value that those new wells would provide. It’s worth a good bit more than some XX months of your current check.
Many buyers will only offer for a certain number of years of production. Many savvy mineral owners would rather hang on for the possible decades of production. Depends upon what your financial needs are.