What drives value without production
- Exact location relative to active drilling
- Whether the tract is currently leased and on what terms
- Permitted wells and operator activity nearby
- The formations beneath the tract
- Net mineral acres owned
- Clarity of title
Leased but never drilled
Many New Mexico owners signed a lease years ago, received a bonus payment, and then heard nothing. A lease that expires without production generally returns the mineral rights to the owner, which can make the interest available to lease again — or to sell.
Why some owners sell non-producing minerals
Future drilling is uncertain. Some owners prefer a certain amount today over an unknown amount at an unknown date, particularly when the interest is small, held in fractions among relatives, or difficult to manage from out of state.