We’ve received 3 offers, starting at $1250/ac and now at $2200/ac from Waker Energy. Obviously something must be going on or they wouldn’t be so aggressive. We’re ignorant about this stuff, but want to get either the best offer or hold if drilling is imminent. The land is Lot 2 (aka NW/4 NE/4); SW/4 NE/4; W/2 SE/4 NE/4 or Section 2, Township 4 South, Range 1 West Carter County. Thoughts?
2-4S-1W does not have any pending permits at the moment. However, Continental Resources has quite a bit of horizontal drilling in the area. The buyers may know something is coming.
And one other dumb question…We believe we own mineral rights on 12.5 acres, but I can’t find it spelled out anywhere. Does the land description above denote 12.5 acres? Thanks again.
Thank you for your response. So what would be a sound approach? Call other companies and see what they would offer? So in the end, you just decide between a certain payoff now or an unknown, probably larger payoff later.
The land description above is approximately 100 GROSS acres, more or less. So you would own a portion of that. Waker Energy just leased its own mineral interest to itself. That is the only lease in the Section for many years. You would have to run the records of the county clerk from inception to determine what your net acre interest would be.
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Thanks for posting this. Just received an offer to purchase in Carter Co. S1304S01W last week for $1550 nma from Waker out of the blue, also. Came here to check if others are receiving traffic too. Something is up.
TODD_M_Baker are you at all familiar with Waker Energy? Tried digging a bit and come up with Walker Energy and Wake but nothing for Waker. Entered their address, 6800 N Western Av., into Google Maps and it took me to a Ramen Bar. Considering selling my 2.5 nma but trying to be diligent. Also, standard procedure? Should I send a photo copy of the signed and notarized mineral deed and hold the original until payment is received? as they are asking me to send the signed notarized deed prior to payment 30-45 days after receipt. Thank you, again, for your help.
It is not wise to hand over a signed original deed or lease without getting paid.
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I recently received an offer for two Carter county parcels from Pointer. First was to sell to them at $1750 per NMA. I am not interested in selling so they offered a lease. Stated $400/ NMA but lease showed $300. Going to send back lease with a lot of suggested changes and see where it goes. Royalty was 1/5.
Appears to be something in the works in Carter for sure.
RSO- No, I’m not familiar with Waker. Someone named Brian Kelley is the manager. They are buying a few interests in your area. So I want you to look at the first post on this thread and then ask yourself why would you take $1550 when in an offset section they offered $2200/acre? Brian Oldham just replied that he has been offered $1750/acre. But that is up to you. Additionally, as Martha says, NEVER turn over an original executed document to a buyer until you have secured funds. And personally, I would want funds much quicker than 30-45 days. Carter is a very diverse county with lots of faults at all horizons. In 3S-1W, I don’t find any new leases in over 10 years so at this stage, not much happening.
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Thank you for the reply and to you and M_Barnes and all of those here that have vastly more experience and knowledge about these things and for sharing that knowledge freely. My grandfather told me “always hang onto your minerals”. Sound advice in most cases. In our case, the minerals have been passed down and divided to the point that in some cases I have .75 nma in others, 10. I’m getting to the point where I don’t have many years left to see the full benefit so have made the decision to sell some of the smaller holdings rather than divide them again for my kids. I did get that original offer bumped up to match the higher offers as an original offer is, as you and others have said, just that, a starting point. Will follow your recommendations and forward copies of my OG mineral deed and the transfer until I have cash in hand. Thanks, again.
I’ve never regretted combining all our holdings into an LLC. Your mileage may vary. Our properties are also mostly small, but we have about 100. Once in the LLC, it’s just the ownership in the LLC that keeps dividing with successive generations. Just my 2c.
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