I’ve received an offer from L3 Resources for my mineral interests in Kingfisher County Sec 5 16N 7W that I am seriously considering. I usually hold on to them, but this is a different time in my life.
I have three questions:
I appreciate your response.
L3 is a legitimate well-known outfit.
You might be able to figure out the going price for the mineral interests based on sales in near are in 16n-7w in 1975 based on the value of the documentary stamps. Sometimes that is difficult.
There will be people who will post and suggest that one should never sell their minerals. However, everybody is in a different position. A seller (not necessarily) may want to pay off their house, fund their retirement, have children or grandchildren with medical needs, etc.
My primary advice is that the mineral deed from you to L3 should reflect the acreage of what you are getting paid for in the sale. Not “all my interest,” unless you have a really good idea of what you own.
Do you mind sharing what they offered? I’ve got some Kingfisher county minerals and the offers have been across the board from $1,250-6,750 per net mineral acre. Thank you.
Offers are always dependent on location, location, location. The current royalty rate plays a major role as does competition. If there are more wells planned, that only means immediate chances for quicker money, but doesn’t mean there are more reserves.
I also have an offer from L3 for $21,000 per acre in an adjacent section
Paloma has at least two more wells planned in the near future in section 6&7. That is why you are getting offers. You could sell part and keep part.
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