Hello, I am new to this site and new to managing mineral rights, trying to make an informed decision. I inherited 40 mineral acres (1/8 interest) in Upton County, A 472 North half of section 41, block 40 , T5S T&P RR Survey. I have recently received several substantial offers to purchase my mineral rights. There are 2 or 3 wells on the property that I am aware of leased by Parsley Energy (W acres) and Crownquest (E 240 acres). Crownquest recently acquired the East half from BC Operating. I am trying to figure out why the offers I am now getting are in the several hundred thousand range vs the couple of thousand range I used to get. Does anyone know what is driving the price here? Thanks, I really am new to all this, you patience is appreciated. Paula
Paula,
Parsley and Crownquest are two excellent operators that inspire a lot of confidence for their results with both vertical and horizontal wells. I've attached a small map that shows the activity in and around Section 41. The pink lines are the survey lines, the green dots are vertical oil wells, and the black lines are the horizontal wells and permitted horizontal wells. As you can see there is a lot of activity near you.
Your acreage is quite valuable, even in this low commodity price environment. If you are considering selling your acreage, my advice would be to talk to one of the vendors listed in the marketplace of this mineral forum that represent mineral owners and see what type of values they are observing in that area of Upton. Here is a link to the vendors: http://marketplace.mineralrightsforum.com/ad-category/minerals-management-consultants/
If you have any other questions about your acreage feel free to send me a private message with your contact information.
Paula I sent you a friend request.