Sold my mineral interest, 3/15/23, OWNERS in Reeves County we sold 21 acres for almost $1,000,000. Don’t undersell, your mineral interests are worth more… Good luck.
Wow, great, congratulations!!
Where is Reeves County?
Where in Reeves County was your 21 acres?
About 250 miles East of El Paso.
How did you sell them? Was it an auction? I’m receiving several offers to buy from private landmen. According to my simple math from your sale, my offers should be increased by a third. Where can I find good free information on the value of my producing NMA? Thank you in advance.
That is wonderful, congratulations! I assume you used a broker? Now the problem becomes how to minimize your tax bill, possibly a Section 1031 exchange if they qualify.
Too late to use a 1031 exchange.
Hi Ernie,
Was offered 750K for an interest in Reeves County. Leased it for over 300K. Subsequently, 8 wells have been drilled to date. We are part of a production sharing agreement which has been quite lucrative. To date over 1 million in royalties has been received in three years of production. So, though you sold for 1 million, it will probably be more lucrative in the long run to lease, wait, pray and hope of course, lol. Enjoy your bounty.
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