Reeves County Texas Mineral Rights for Sale

Starting Bid: $175,000

• State : Texas
• County : reeves
• Legal Location : Lots 9 and 16, Section 18, Block 55, T4S
• Net Acres : 10
• Active Lease : Yes
• Royalty Rate : 12.5%
• Producing : yes
• Average Income : $3,233/Month

Comments:

Update:  12/15/2023

Sold

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Update:  11/21/2023

Under Contract

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Update:  11/17/2023

Best and Final bids are due by end of day on Tuesday, November 21st.

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Update:  11/14/2023

All bids due by Friday, November 17th at Noon.

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Important:  Acreage is mineral classified status.

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This is an opportunity to buy some nice PDP acreage in Reeves County Texas.

The Laramie wells are operated by Andarko/Oxy, and represent the bulk of the royalty income.  A number of wells were drilled in April 2021.   The owner is also being paid for the Wendy State by Devon.  The Wendy State ownership overlaps with the Laramie State wells.

This acreage is mineral classified, and the seller has a total of 10 net mineral acres / net royalty acres.  Due to this being mineral classified, the land would also be included in the sale as required by law.

According to DI, we are showing another potential well, the Laramie State 22H, which is in drilled status.  We can’t confirm whether this is an additional well that was actually drilled or whether DI is just showing incorrect information.   If that well is drilled, this represents additional upside for this ownership.

This seller also has some additional ownership in Reeves County, the Johnny Ryall wells under Conoco, which are not included in the sale.   The seller is unlikely to sell this acreage as they want to hold onto it for now, but you are of course welcome to throw out an offer for that portion.  The average income for the Ryall wells is $6,500/month.

The starting bid price on this acreage is $175,000.  This represents just a 4.5 year pay back.  While the wells are still somewhat flush production, you also get the surface included on the sale.

All bids should be based upon the cash flow value.  No adjustments will be allowed if more or less acreage is owned.  This ownership seems pretty clear cut at 10 NMA/NRA.

To view/download the listing files, please visit the link below:

Download Files

We will begin accepting offers on Tuesday, November 14th.

All buyers are required to either do a 14 day close, make a $5,000 deposit, or sign our qualified buyer agreement once a deal has been verbally agreed upon.

The mineral owner has exclusively listed with Texas Royalty Brokers.  Please do not contact the mineral owner directly.  To make a bid or ask questions about this listing, please contact Texas Royalty Brokers using the contact form below.  Our team will quickly be in touch.

We have other mineral rights for sale.