I just recently found out I enherited almost 4 acres in Caddo county oklahoma. I innitally recieved a sale offer and then a lease offer from a different oil company. Antelope wants to purchase for $1,000/acre and Rosebud want to lease it for $1,000 bonus. I was recently told Rosebud is no longer interested in leaseing from me but Antelope then came back offering $3,000 an acre. Should I just sell it? I was thinking of countering at $5,000 but I am not really sure how to do that. I know the section is untouched but the area has a ton of wells, a few horizontal that run several acres south of me. I need advice so bad. I know people say not to sell but that is the only offer I have now and the money would be a help getting caught up on credit. I am worried the offers will go away and I will be stuck with nothing. I am so worried to make the wrong discission but don’t want to lose out all together by not making one. I am very green to the oil business as I figured I’d never need to be, but now I am terrified my one break in life I may miss out on. Thank you so much for reading and helping, I appreciate this site so much!!
You can split your difference and sell part and keep part. At four acres, you do not have much leverage. There has been a bit of leasing just to the west of you. Something may develop, but it will take time. You can also sell all of it, You will probably not get $5000/ac, but you can ask for $3500 and see if they will go up more or just ask the agent what is the best offer that they can do. DO NOT hand over a signed deed without getting paid the same day. DO NOT accept a draft payment letter for 60-90 days out. They would have your deed and you would get no money for a very long time. If they cannot flip it, then you would have great difficulty in getting paid.
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