I hope I’m in the right place here. I’m a Realtor in Southern Nevada and a client just received a letter from a company wanting to purchase their “Surface Rights,” and attached a mineral deed to the package. Is there some sort of market price they can research to determine if its a good offer? They’d rather just sell the land outright but it was inherited from a Great Grandfather so they’re still trying to determine acreage and value as well. Any feedback I could provide them would be appreciated. There are multiple plots of land in various counties, but Culberson is one of them. (Sec 12, Block 87)
Yeah not much recent activity near Sect 12 Block 87 of Culberson. There is a lot of good activity in the NE part of that county though. Even with that in mind it’s always a good idea to try and hold on to the mineral rights if it doesn’t get in the way of your surface transaction especially being so close to the Permian. You never know what gets discovered in the future. Here’s an image of the current rigs with the approximate location of the section highlighted.
Obviously the minerals are not worthless, or he would not have received an offer. There are offers flying around all over the county that are far removed from current activity. I am probably 20 miles from the nearest activity and have received around 10 mineral offers over the last year. Have never received any offers prior to that.
I do not believe a current value can be established, but my advice is to hold on to the minerals and wait for much high offers, which should be forthcoming in the near future.
All the oil guys that come through town claim the current plans are to keep working west from the current drilling activity all the way to El Paso. So that would encompass essentially all of Culberson County.
Thank you for your response. Who would I hire? What steps do I take if I want to do it myself. I’m a new land owner (obviously) so any information is greatly appreciated.