Anyone have any dealings w ace energy or echo energy need the pros and cons please … I have two different offers from both of them on selling a portion of my minerals and need to decide what’s best for me and my family
Any company offering to buy your minerals fully intends to make a profit. If you have no need to sell, then you don’t have to sell. You can hold onto your minerals and wait for the drilling and you get the royalties instead. Carter county is about to get quite a bit of horizontal drilling based upon the cases before the corporation commission. Ace and Echo both want a piece of the action. They are not talking about just one horizontal well in each section. Down the line, there may be many depending upon the geology and any faulting. They may also fail, but time will tell.
Read all the topics in Carter County and get up to speed on the discussion regarding both these companies. Just because they offer doesn’t mean you have to sell unless you have a really good reason to do so. If you don’t sell, then sit back and wait for the activity. If you list the section, township and range, we can tell you what is going on close to you. If you sell, then never give a signed lease to anyone without getting a cashier’s check at the exact same time. And don’t settle for the first price offered as it is usually low to what they are willing to offer. Once those minerals are gone, they are gone forever for your family.
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That’s is kinda why I’m not selling all of the acres just a portion of them. The land is in section 8 township 2 south range 3 west carter county.
But I am also not selling the portion that is already being drilled upon by someone else right now which is greyhorse I am only selling below 8,000 feet not above that. Does that make sense
The part below 8000’ feet is much more valuable (in my opinion) than the shallow production you have. Why else would they want to buy it! There is a huge land buying spree going on to buy minerals in order to drill horizontal wells in the Woodford, Hunton, Viola and deeper horizons. Depending upon where you are and what faulting there is, you may be giving away the best acreage if you sell the deep rights. You have a pending horizontal well in section 8 right now. You might want to reconsider. Or only sell part of your acres and keep part.
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I know both of these companies. Ace likely is not the “end buyer” and if you sell to them, they will probably flip it immediately to someone else. Echo Energy is an end-buyer. Another “end-buyer” is The Mineral Resources Company. Echo and MRC are likely going to be the highest paying, with Echo likely being the most aggressive.
What you do with your property is your business, so if you have an offer that you deem lucrative, by all means take it.
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