Recently received two unsolicited offers, one for $4,500 per net mineral acre for 40 acres, the second to lease the same 40 acres for $1,500 per net mineral acre and 3/16 royalty, or $1,250 per net mineral acre and 1/5 royalty for 3 years. Are these reasonable offers? What has caused the renewed interest? is there drilling in the immediate area? Any and all advise welcome.
Blaine activity is heating up nicely. Do not sell. Read the latest investor presentations from Newfield, Marathon, Cimarex, Devon and read the last six months in the Blaine co forum. First offers are usually a bit low to final offers, so you can probably get higher. I see no leases posted yet, so not a good idea to be the first horse out of the gate.
Who is offering to lease?