I own a small producing royalty percentage in Martin County, N / 3 Section 20 block 38 (RSP Permian ), and S/2 sec 24, block 39 (Hunt oil). I recently received some offers worth considering, and have been researching the current activity to help me decide how to proceed. I appreciate the posting of permits, etc, by Mr. Lile, thanks. If anyone has any helpful information regarding this I welcome and appreciate your comments.
The property is on the Glass Ranch. Township 1 North, for clarification.
I am not surprised that you are receiving offers for your minerals. This appears to be a good area that should get better as horizontal wells are drilled.
Assuming that you are referring to Abstract 856, both to the east and west of you are many horizontal wells that must be far more lucrative.
I too have intersts in Martin county. I have received 57offers valuing the well from $1.2 million to $12.8 million (offer price divided by royalty percentage).
Let me know what the well value is for yours using the same methodology of offer divided by royalty.
There aren’t any horizontal wells on my property yet. It looks like RSPP has the section just north of sec 20, so it’s just a matter of time.
My latest offer, divided by decimal interest, is about 6.5M. I may sell a portion, but not at that offering price.
Thanks to those who have convinced me to hold my mineral property. Knowledge, wisdom, and integrity are precious commodities.
I don’t know about abstract 856. The description is from the old T&P Ry survey.