I received a mineral purchase offer for Love County section 16 township 7S range 2E. Land man is Hugh Brower, independent. Does anyone know this person if this is legit? Is there any activity in this area? My family has a total of 9 acres, would we get a better price if we sell together? I appreciate any information anyone has. Thank you
When I get an offer to buy, I always want to know “why?”. Is there current production, how long will it last, is there more activity planned, etc. Are you currently getting royalties from the XTO Reed 1-28H21X16? XTO is very active in the area. They may or may not drill more wells in the future. The placement of the current wells leaves room for more. You probably can get more if you band together, but probably not a lot more. Consider your family situation and whether the royalties from the current well are helpful. They may continue for many years (or not). They might be capital gains from a sale, so consider that. Anyone who offers to buy usually plans on making a profit, so they offer what they think the market will bear. You can ask for more and see what happens.
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Thank you for your response. I was able to find out that the well is currently producing. Not having any luck yet with talking to someone at XTO to find out when a royal check will be processed.
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