I own 5 acres and mineral rights included in this well. Like everyone else, I’m inundated with offers. The lowest has been 20k and the highest 80k. The well is just gas at this point from what I can tell. Do gas wells become oil wells after the gas has been depleted? From what I understand my tiny acreage is in one of the hot areas.
Sorry this is long winded but we are planning for retirement and are clueless as how to value and include in our estimates.
Thanks for any info.
Does anyone know about these letters about loans against mineral rights? All of a sudden I’m receiving many.
Are they offering to lend you money?
Yes. I am all of a sudden getting these letters.
Be sure that you understand the legal and financial terms of any loan that you take out that will enable the lender to foreclose on your minerals. This can be very tricky and you could lose your minerals for a loan that is less than the value of the minerals.
Thank you. I dont think I would ever take out a loan with this kind of company. I’m sure there are many ways they could find a reason to foreclose. Thank you so much for your response.