We need assistance. My aunt received an offer to purchase her mineral rights in Reeves County, Texas, Section 14. Neither of us has a clue of the value.
Has there been drilling in that section at any time?
She was offered $5,000 an acre. Does anyone know if that is a fair price?
Thanks for any help
Jim
Hi Jim,
You can easily double or triple that offer. We leased 6.8 NMA (net mineral acres) to Rosetta for 10K per acre in early 2018 and 20.8 NMA in a different section for 15K per acre from Centennial this past summer.
How many acres do you have and who’s making the offer if I may ask?
Always have a lawyer look at the lease before signing it.
Good luck.
This is what I have heard.
Parsley has been drilling and producing for 19 months.
She has 20 acres.
Suggest you post your question under Reeves County…go to Counties at the top of this page, then Texas and then Reeves County. If you will give a more detailed legal description, like the Block and Section, or the survey abstract number your mother’s property is in I expect someone will be able to help you.