My grandfather has been approached by a company called "Lone Rock Resources" to sell his mineral rights for a tract of land in Grady county that still has some time left on the lease but no activity. Are there many companies looking to buy and not lease mineral rights in Grady county? It looked to me like Lone Rock was just formed in 2015, so I wanted to see if anyone else had heard of or dealt with this company. Thank you for your help.
There are quite a few companies out there making offers to buy right now. They won't offer unless they think they can make a profit sometime in the future. I am in the "don't sell your minerals" camp, but I do recognize that each family needs to make the best decision for themselves. In my experience, first offers are usually quite low to actual value, so tread cautiously, get several offers if you really need to sell and consult an attorney to make sure you understand the deal. Friend me if you want to go into more detail about your specific area of Grady and its potential. I do not buy or sell.
We are finding the companies that want to buy but want to pay bottom dollar. More like what they offer would be for leasing not buying. They use the the line due to current oil prices we are not offering much. Truth is its based on future, also natural gas they totally over look.