375 an acre in the state mineral auction!
Carolyn Rohde said:
$150.00 per acre for how long and what royalty?
can you share the company that made this offer of $150.00? I have received an offer for $115.00 and $100.00
with 15% royalty.
Linda Stewart said:
Carolyn Rohde said:$150.00 per acre for how long and what royalty?
We have several hundred acres throughout Cheyenne County, particularly south of Cheyenne Wells and both East and West of highway 385. We have had several offers from multiple landmen. The first one started at $50/acre but we turned it down. Our best offer so far, after some negotiating, is $125/acre at 1/8th royalty for 3 years with 2 year option.
My brother in law, who also has in interest in the mineral rights, works for an oil company in Houston as an analyst. He has talked to several of his friends throughout the oil industry who are advising him to hold out as they expect the prices to go higher. Although $125 is a good price for our area with regards to its history of leasing, I believe we are going to wait it out a little longer as we expect the prices to increase. The rumor is that Chesapeake is making a play in this area and I tend to believe it.
i just recieved a lease from westphal llc. they offered me 150 an acre and 15% royalties.my land description is township 16 south-range 48 west,6th P.M. etc.can anyone advise me on this?
Kathryn,
I posted this "to think about" on another thread here on MRF.
http://www.mineralrightsforum.com/group/cheyenne-county-co-oil-gas/...
Always be sure who you are leasing with. Lease with a producer; not a flipper. I cannot say who Westphal is, but you should be able to before you would sign with them - or any company.
Good luck.
Kathryn Shaw McDaniel said:
i just recieved a lease from westphal llc. they offered me 150 an acre and 15% royalties.my land description is township 16 south-range 48 west,6th P.M. etc.can anyone advise me on this?