I think I might what to sell my share of land left to me years ago. Land is located in Reeves County. It looks like I share the acreage with tons of others. I have been told that I have the equivalent of 7 Net mineral acres. There are a few leases on the land. I am being bombarded with cold call offers to sell lease or parts of lease. I have no idea where or how to proceed to see if this is doable. Lawyer first? Real Estate Agent? Any guidance would be appreciated.
Thank you.
Hello there. What Blk and sec are you located in?
Find out what activity is going on first. If you are getting lots of cold calls, likely that drilling is about to begin and you would make more money off of a good lease and royalties than you would off of a sale. They buyers expect to make a profit off of buying minerals. The more offers you are getting, the more other folks know that you do not. Your choice depends upon your own personal situation and whether you are willing to wait a few months to see what happens. You will make bonus money off a lease and then if a productive well(s) are drilled then royalties for years.
The surface would go through a real estate agent, but be very careful about the wording on the sale agreement if you want to retain your mineral rights.
Reeves is a very hot county right now with over 1000 permits. Most for multiunit horizontal wells.
Suggest that you get a good attorney to help you with your decision.
Another factor to consider is the capital gains tax that often goes with a sale. You had a basis value when you inherited and if you sell, you may be taxed on the difference between that basis and the sales price profit.
1 Like
I am one of the property owners of this tract-
LEGAL DESCRIPTION PROP ID: R000000722 BLK: 13, TRACT: 39, AB 464 BLK 13 SEC 39H&GN GEOID: 01000-00645-00000-000000 NW/4 ACRES: 73.340
I have heard nothing about the property for a couple of years. ( since 2024)
How can I find out about any activity regarding the property? I have no direct communication with the other owners. I own. 20 AC minerals and about 15 dirt.
Another interesting point that is not really discussed is the arrival of Data Centers that are taking shape in Reeves County which based on your Blk and sec is a good 20 min away. Project Kilby is a 6.5 billion dollar project in Pecos.On this site the topics are on minerals and some surface. What is appearing to take shape is how new Data Centers will impact landowners in this area especially Reeves and will potentially create a whole new revenue for landowners with surface and mineral rights. Once the Data Centers goes into construction it will create an entire ecosystem of business to the surrounding areas as well.Also it will bring in thousands of employees and businesses to support them. It’s not discussed in this forum I believe because it’s new to everyone which is understandable. But it might be wise if possible to hold on to land in Reeves county. Those data centers will need water and gas pipelines to cool down those campuses. They ll need ROW agreements with landowners to do that in the surrounding area. It is slowly looking like surface landowners in the Delaware Basin may become as lucrative as mineral owners.