Just got a offer to buy my portion of mineral rights from Black River. My Section is 42N-73W Section 26 128 acres at $3000 per acre. What’s going on in that area that they want to offer that kind of money?
There has been some activity in the last year up that way. I know there have been offers for more than 3k for that area, unless your HBP by an old 1/8 lease or something. I read an article that Wyoming is actually slowing down, due to low oil prices and the costs they aren’t making the profits they would like. Here’s a link for it https://www.google.com/amp/s/oilprice.com/Energy/Crude-Oil/The-Cowboy-State-Oil-Boom-Is-Falling-Behind.amp.html
Thanks. Just pondering the idea.
Just got another offer from the same company. About 1k an acre more. Comes to 512k for mineral rights. What’s going on in that area? If oil is going down and I was told the wells are about 1/3 used up what do they know that we don’t?
Update: Called this company 3x and no reply.
@rick3 Daily, mineral owners across America receive many many letters from mineral buyers, and so-called mineral buyers. We’re aware of at least 5 companies who send out a minimum of 10,000 letters per week, and there are many many more who send lesser numbers. While these are generally spoken of as “offering” letters, they are more accurately characterized as “interest” letters. Moreover, realize that for the most part, this type of direct mail channel is essentially designed around picking the low hanging fruit.
There’s no news in the fact that you’ve not heard back after attempting to contact a letter writer. This is not uncommon at all. The fact is that they’re unwilling or unable to pay what they may have “offered”, and answering a phone call from anyone wanting to “accept” such an offer is a waste of their time (and yours).
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Thank you for the info. Had the money spent. Lol.
Rick- are you sure you own as mich as you say. I pulled the last leases and there are several owners in the west half of section 26. That may be why the offers have been so big from these companies, they don’t have full title and aren’t aware of what you actually own. So they do the bait and switch, and end up proportionately reducing the offer once they figure out your actual acreage
Hi. Tried contacting them back several times. No response. Think the company is a scam. No emails will go though and they don’t return calls.
Are you sure you own the amount you said? It looks like there are about 8+ owners in that w2. Several being companies. Unless you are those companies haha
I don’t know the exactly acreage of my share. This is what they told me when they solicited me. There is 4 owners including me in my family.