Around 2 years ago, I bought ~28 NMA of mineral rights from a friend. They are located in Columbia County, Arkansas at 16S 20W and span into Sections 8, 9, and 17. They were nearing the initial 3-year term of a lease when I bought them, and the landman said she didn’t expect them to produce before the lease expired (they didn’t).
Here is a screenshot to show the nearby oil wells
and here’s a screenshot showing Arkansas lithium leasing territories, where Albemarle’s territory is pretty close to these minerals. The blue dot is approximately where the minerals are, next to Logoly State Park. Any chance they might expand a couple of miles someday to include my area?
My friend did have a brine lease with Albemarle through the 80s and 90s, so there’s at least some precedent for Albemarle leasing a little outside of the above defined territory.
I’m not desperate to sell and am just wondering if y’all see these as worth owning long term or selling now to redeploy capital to something more promising. If selling seems prudent, any ideas about a fair value range?
Thanks! Nick