A relative just got a very generous offer from Cana Woodford Resources LLC in 16N-3W. Does anyone know anything about them?
Is the offer to buy or lease their minerals?
How generous per acre is generous?
Good question, I had better confirm which it is before I reply to Mineral Joe's question.
I'm assuming it is an offer to purchase. They are mineral buyers out of Tuttle, OK.
Your hunch was correct, it was an offer to purchase. $1100 per NMA.
That is a low offer for purchase. I've heard of minerals going for around $2,600/acre in Logan county.
How many acres does your relative own?
His interest is in approximately 5 acres. He called me because he initially thought it was an offer to lease (since that's what he's been getting). However, $1100 isn't much motivation to sell. Thanks for input.