Reeves County Texas Mineral Rights for Sale

Starting Bid: $750,000

• State : Texas
• County : reeves
• Legal Location : Multiple sections in Reeves and Pecos county. Please see attached map.
• Net Acres : 37.91
• Active Lease : Yes
• Royalty Rate : 12.5%
• Producing : yes
• Average Income : $2,535/Month

Comments:

Update 12/11/2024:

This listing is pending under contract.

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Update 12/5/2024:

List price has been updated due to seller request.  It is now $750,000.

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Update 11/26/2024:

We have further confirmed that our client has 15.8 NRA in the newly completed wells.  We have updated files in this listing to include the division orders he recently received.  Our client will not sign the division orders to ensure that the buyer gets all revenue from these completed wells.  Our client is agreement with closing taking place in 2024 or 2025. 

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This is an excellent opportunity to buy mineral rights in Reeves County Texas.   There are multiple wells producing, current cash flow, wells that are completed but not yet producing, and also substantial upside.

This ownership is currently generating $2,535/month from 23 active wells providing excellent diversification.   In addition, there are currently 7 completed wells that are going to come online soon.   The seller understands that all revenue from the 7 new wells will go to the buyer.  They have not yet received division orders on these new wells.   The buyer will realize an immediate ROI as these new wells come online.

Here is a break down of each unit.

Giraffe Unit:  This unit has the 7 completed wells.  There are multiple overlapping units here which make estimating the ownership difficult.  In our ownership estimate, we count 7.91 NRA from the Giraffe 18 well in Section 18, which is an old vertical on 640 acre spacing.  In addition to this, there is a no longer active “Warthog 19” well that is also an old vertical well on 640 acre spacing providing an additional 7.90 NRA in Section 19.   This gives a combined total of 15.80 NRA in the unit with the 7 completed wells.

Leopard Unit:  We show a total of 7.88 NRA here.  This unit has a lot of upside potential with just a few horizontals drilled and space for plenty more wells to be added in this unit.

Joy/Swordfish/GT Unit:   We are showing 7.9 NRA in the Swordfish 24 and 6.33 NRA in the Joy 13 for a total of 14.23 NRA.   There are some GT wells which cross both the Swordfish and Joy units.   This is overlapping acreage, so we haven’t included it in the calculation.    Once again, there is excellent upside potential in these units with only a few wells drilled and space for plenty of additional wells!

Important Notes: 

-The owner would like to complete this sale in 2024.  The seller is ready to move forward with a sale once bidding is complete.
-The owner has other mineral rights in Reeves / Pecos that are not included in the sale.  This sale is specific to what we are marketing and he will retain the other ownership he has in the county.

For this listing, we are requiring the following:

1. 1. Special Warranty Deed
   2. 30 Day Close
   3. Any adjustments to purchase price greater than 10% must be mutually agreeable.
      
   4. Our closing process included in the PSA, which is:   At closing, buyer will provide the mineral deed.  The seller will execute the mineral deed and return it to Texas Royalty Brokers.  Texas Royalty Brokers will provide buyer with a scanned copy of the deed, and buyer will then wire funds to seller and Texas Royalty Brokers respectively.  Once funds are confirmed, Texas Royalty Brokers will overnight the deed to the Buyer.   
   5. Buyer must close within 14 days or sign our qualified buyer agreement.

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

Download Files

We will begin accepting offers on Thursday, November 21st.

All buyers are required to either do a 14 day close or sign our qualified buyer agreement once a deal has been verbally agreed upon.  In certain situations, we may require a $5,000 to $10,000 earnest deposit at the sole discretion of Texas Royalty Brokers.

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.