Dear Oil and Gas Brothers,
A Landman from Roswell New Mexico contacted me recently about wanting to lease 80 acres that my Grand Father purchased many moons ago. He offered 50 dollars an acre and 1/6 royalty, which is 16.67 %. I have never heard of such a low royalty. He told me they do things differently in New Mexico. I asked if the price of Oil was the same there as Texas. So I wanted to ask any of you if you have had dealings in Roosevelt County New Mexico. I did read where 25% has been paid and 250 an acre, but the land man said that was the the lower half and that my acreage is further north in wild cat territory. Share what you know and know I appreciate all you share.