My family owns over 600 acres in this township. We got an offer for $300/acre for the mineral rights. I don’t know much about how this works, but this seems extremely low.
Thanks in advance for your help.
Robbie
Robbie,
Thank is extremely low. Minerals in the area have varied from $2,000-3,500 per acre depending on the location.
I figured we were being low-balled. Not sure where to go from here. I’m not sure what mineral rights in the area are worth…how do you find out?
Thank you, Andrew for replying.
Robbie
$3500 in 10N 4W?
No permits, no HZ production, all conventional wells…I must be missing something as I don’t see where that value would come form. If you could, can you let me know where those transactions are (section)?
Jeffrey, The information I have is 33 10N 4W…I’m a newbie, is there different information needed?
Robbie
Simon, that is very low. I am in 10N-4W-35 and just got a leasing offer for $2250 3/16 $1750 1/5 $500 1/4. Don’t even think about selling that low. EOG is moving into the area.
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Sorry, I’m new at this, but what is EOG?
EOG is an Oil and Gas company.
EOG or Enron Oil and Gas
Robby: That offer looks very low to purchase the minerals. It might be completely different if this was a lease bonus. If you have 600 acres you have a considerable ability to dictate the terms of any lease and should seek the assistance of an attorney.
In S33 you are much better off, look across the border to 10N5W, there is activity. If you wre in the opposite corner of the township, then I would be more concerned until activity moved that direction.