Hello, I received a mineral purchase offer of $600 per net acre at STR 33-15N-5E in LincolnCounty. Is this market value? I’m new to this, so I’m learning. Would it make more since to lease than sell? I believe this price is to purchase the mineral interest. Any guidance would be much appreciated. Thank you.
Welcome to the forum.
There is leasing in that section. Market value is what a willing and informed seller under no compulsion or sell and what a willing and informed buyer under no compulsion to buy agree on. Freedom Operating drilled a horizontal well in 33 in 2013. It is currently inactive. They drilled a horizontal well in 29 in 2024. It has not been turned on yet. Prime NGL is the most recent company leasing. Someone may be planning to drill a different zone than the old well. Offers to buy frequently come before the drill bit.
Thank you so much for the response! Would you recommend getting quotes from the company’s mentioned? Wake Energy is who quoted me. Are you familiar?
Thank you, Tiffany
If you really need/want to sell, then get quotes from some other companies. If you have no need to sell, then just sit back and wait and see what happens. Leasing (and the offers to buy) indicate that something may be happening in the near future.