I currently have a 3/16th royalty lease that runs another 3 plus years. I continually get offers to buy my 7 acres of mineral rights, the latest at $2500/acre. I am blind on what the prospect for drilling or income is versus just selling out right.
I'd appreciate any opinions on subject section if there are any.
If you read back on this forum they show you how to figure up a potential income from your mineral rights. The oil companies are never going to give you the full value of your mineral rights when they buy. So if you are not in an immediate need for cash, then I believe that waiting is better. You never know when new technology will come along that will increase the likelihood of them finding oil or gas in your section. And when you lease, NEVER sign with an option for an automatic renewal of the lease. Your lease may be worth much more in three years then when you signed. I'm speaking with the voice of experience on this one.
There are three well in 31-6n-5w. only one completion report but it is a good one .
http://imaging.occeweb.com/OG/Well%20Records/1DD17310.pdf
I guess they would offer 2500 .
I have a 3/16 share in 4-3N-5W. I received an offer from Legacy Royalty for $9,800. an acre. Call several royalty buyers before selling if you are thinking of that. There is drilling activity all around Grady Co. I don't intend to sell in any near future.
I just got an offer for $2250 per acre for 4-5N-7W. There are about 80 acres net. I won't sell, but thought your offer of $9,800 an acre was very interesting. How many net acres are involved with you?
I have 54 acres. Don't know what the difference means.
Joellen Wheeler said:
I just got an offer for $2250 per acre for 4-5N-7W. There are about 80 acres net. I won't sell, but thought your offer of $9,800 an acre was very interesting. How many net acres are involved with you?