Is there a way to find out if a long-inactive well will soon be active? Getting increasing offers from one company that wants to purchase rights. Since the offers are made to an elderly relative, we’re weighing pros and cons as to sell or hold out and see if royalties are worth it.
It’s possible new wells are to be drilled in that area…If you will supply the location someone on this forum could possibly help you…Section, Township and Range.
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Here is the area I’m checking on: Red River Parish, Sec. 5, Township 13N, Range 10W
Hi…I’m in the same boat. Trying to get information on leasing options and maybe selling a portion of the mineral rights for an elderly relative - she can’t remember from whom she had received offers previously. Maybe something will post up soon.
Our family recently sold rights in Red River Parish to Buffalo Bayou Resources and worked with a gentleman out of their Broken Arrow office.
My relative decided not to sell for now… Offer had doubled from the first to the most recent, but had only been approached by one company. Going to hold on and see what happens.
Thank you. I’ll do a Google search and see what I can find. She had several offers over the past couple of years and rejected them all but now would like to reconsider, so…maybe. Thanks again.
There is a lot of activity in the STR’s that are on the Red River/Desoto Parish border. 13-11 is on that border and 13-10 is the next section over to the East. The offers to buy minerals will continue to increase as the operators expand their areas for potential development. I would expect that they will be in 13-10 sooner rather than later.
Look for mineral buyers in the North Louisiana area - there are several large ones located in Shreveport. Whatever you decide to do make sure you have a Louisiana oil and gas attorney reviews any deeds before they are signed. Mineal buyers, on average, are shady and will take adavantage of mineral owners lack of knowledge if given the chance.
Rebecca, thanks!!! A new well just set up 1 mile north…just out of our section, of course.
I would expect development in your area within the next year if that well is good. I believe that they are trying to figure out the boundaries - and the pace at which the companies are moving is really fast. It is even busier right now than in 2008-2010 - unfortunately the area has lost a lot of landmen because we’ve had several long downturns since then and with each one more people get out and move onto a more stable industry. If I could work 24 hours a day - it still wouldn’t be fast enough - there is so such much work to be done. Fingers crossed you have some lease offers on the horizon!
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