I would appreciate any info in this area or direction. I have been getting offers since last fall and now multiple offers a week. Not interested in selling , would just like to be current on activity. Thanks !
No recent activity on section 4, but it is in an active area. As you probably know, there is a producing gas well on the section. There was a permit issued to drill a horizontal well on the western portion of the section in 2013, but the well does not appear to have been drilled. Since your royalties from that well are taxed, it is easy for the mineral buyers to obtain your name and address from the tax records, and then inundate you with purchase offers. When a new drilling permit lands on the property one day, the offers will dramatically increase in size and frequency.
Thank you ... That is what is confusing to me .. the offers are all over the place but have been as high as 20,000 + per net mineral acre and as low as 5,000 total . A few of these have been very persistent yet every time I do any research I find nothing new. Oh well .... again thanks for your response !
Deniece,
Those offers can range for a number of reasons and the reasons you are being contacted are exactly the reasons that Wolfcamp laid out.
Some groups low ball, others throw the top offer they can and hope that there won't be a lot of back and forth. I would suggest joining NARO and if you message me I'll send you one of their board members who is extremely helpful and knowledgeable. She's a sweetheart.
I will say this be up front like you have been that you are not interested in selling with those that are making offers. It's fair for both sides and a lot of work does go into putting together an offer if any interest is shown. Also and this may sound slightly ridiculous BUT if you get tired of the calls... I'd change your number or get a different number so that you know right off the bat if it is prospective buyers that are calling.
Deniece,
There are some very good wells in this area,
GIS Map of Loving County Block C27/Section 4 and surrounding area:
CLICK ON MAP TO ENLARGE
Clint Liles
Thank you Clint ....I truly appreciate your help.
Thanks Jack I will look into NARO. The majority of my offers are written. I'm sure it is because the mineral rights are in a family trust . I will pass this info on to my parents because theirs are not.