Hi, I posted the other day about Mewbourne oil activity in Lea County, New Mexico—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.
I’m not sure what was said in the other thread, but there are, I believe, five recently drilled wells on the Querecho unit and a rig drilling the sixth as we speak. Those 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.
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