Offered $4,000 per acre Blaine County: Sec 22 13N 11W SW, 1/8the lease. 80 NMA. Current producing well since 2009. is this offer reasonable?
The company offering the amount may think that it is reasonable. Offers generally only offer for the current well value often discounted at 10% to account for the time value of money. What they are not offering is the value of potential future wells. They intend to make a profit off of any purchases. Frequently, offers are sent out in townships where there are increased density hearings on sections in that township. Notting Hill has increased density cases in sections 4 & 9 and Devon has an increased density hearing for section 3. Time will tell on your section.
Depends on if your interested in selling at this time and if not, how long your willing to wait. Unfortunately, your minerals are HBP at 1/8th. I believe continental is in the area. So unless they drill more wells, the most money you will receive is the current production - which will slowly become less and less. If there are no permits or anything pending, plan on several years before any new production MAY happen.
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