Just received an offer to purchase my minerals in this section for $17,500. I know that several wells have been spud already and I am being paid for July sales, but the proceeds are very nominal. Especially given the amount of the purchase offer.
Does anyone have more information about what is going on in this section? Casillas is the purchaser for the existing wells.
Thanks in advance to all.
Is the $17500/acre or total? The per acre price is better to post than the total to get more helpful answers.
Casillas has the Verdugo 34-27 MXH Spud in Feb 2018 from 34-5N-5W. Active as of 5/28/18
Casillas has the Verdugo 34-27 WXH Spud in March from 4-4N-5W. Also active ads of 5/27/18. Probably low production in June and better in July, but not posted yet. Room for more wells.
The offer is $17,500 per NMA.
My Casillas stub shows multiple wells in my acreage, but the proceeds have been very nominal for the first check
I only own 1 nma if that helps the analysis. I don’t have a great desire to sell, but prior acreage in the Oklahoma shale plays say I should have sold before the wells spudded.
Thanks for the reply.
Not sure if there is anything wrong with the two wells, You might want to see if your August numbers are any better. The equation for your decimal interest is:
net acres/spaced acres x royalty x % perforations in your section.
Choice is up to you. You are in a good area and if you don’t need to sell, then don’t. Invest the royalty income and let it work for you in another investment thereby retaining the mineral acres in case they drill more wells.