I want to sell the above mineral rights in Eddy County, NM. What would be a good asking price for them? Thank you!
Hello Gary. I assume they are unleased minerals? Unfortunately, neither will generate the high offers some are receiving in the core area of the Delaware Basin. The first interest is a bit in no man’s land. There is not much activity in that township. The second interest is in a marginally better area, being just on the south side of the Northwest Shelf and nearing the Delaware Basin. There is some Yeso horizontal drilling to the west and north, but the wells are not terrific. These types of interests are difficult to sell. In my opinion, you are much better off holding it long-term in case something happens in future generations.
Ouch! Super disappointing to hear this, although thank you so much for responding. I need to sell them, regardless, though. What might a a reasonable asking price?