I share mineral rights in Caddo County with a relative. We recieved an offer to purchase at 3,000 per mineral acre. We wojld consider selling since it is small ( 13 acres ) and would have to be devided among several heirs which I think would make it to small for leasing purposes. Any thoughts on selling now or is Caddo a promising area since we are receiving occasional offers?
Need to include the full legal description of your acreage.
Caddo is a large county and interest varies across the county. 13 acres is not too small to lease as all acreage must be leased or pooled in a spacing unit before it can be drilled. If you give your section, township and range, members of the forum may be able to give you updates on the active and leasing in the area. Offers to buy frequently come before drilling and the buyer will rarely tell you about the potential income forthcoming as they want to make a profit off of it.
Thanks for the information we have acreage in Caddo County Section 24-9N–10w
At this time, there is no leasing or drilling in that section. There is some leasing on the west side of the section.
I have a lease offer in Sec. 3, T10N, R13W for $600/acre and 3/16th. Any idea on the going rates for this area?
4-9n-11w caddo County. Received offer to buy. Any information on this area? Thanks
Welcome to the forum.
Staghorn has a permit for a horizontal well Independence 10-11-23-33-04 1H. Many offers to buy come right before driling. They are usually only for the current production value and not for the future well’s value. Our family would rather have the income from the new wells(s).
Thank you for the information. I was curious on why he was so anxious for a decision. It was a good offer per acre. The royalty amount has declined hopefully this will produce. Thank you again. David
Yes, the pushier they get, the more I balk. A similar horizontal well about two miles away has about a 5 BCF estimated recoverable, so that is good news.
For what it’s worth, if estimated recovery is 5 bcf the well will barely pay out using $2.00 gas price.
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So you would entertain selling?