Hi, I’m new here. Was hoping to get a little help. I have 20 mineral acres in 157-101-26 NE 1/4. There was a well put in production in 2011 and I have been receiving payments (not much) since then. Recently I’ve been getting lots of letters and a couple offers to purchase my interest. Seems to be about 2,000 per acre. Is there a reason I’ve all of a sudden been getting these offers? I inherited these back in 1980 or so and negotiated the lease in 2010… but 2k per acre just doesn’t seem worth it to me even though I’m not getting much out of it anymore. I’m 53 and we don’t have children. We don’t need the money but a nest egg doesn’t hurt either I suppose. Thanks for any input!
Sections 25 & 36 and 13 & 24 to the east each have a new permit in Dec 2019 for an additional two section well in each of them, so probably the interest is due to those wells.
Thank you for your time! Does 2k per acre seem very low?
I do not know the going rates in ND, but in general my feeling is that first offers are usually lower than what a company will ultimately go with.
Thank you again for your time
That offer sounds low. I’d shop it to some reputable mineral buyers in the basin and I suspect you could do better.
Kind of what I thought too. Thank you
For those sections, you should see offers in the $3,000-$4,000/acre range.
Thank you for your response. That’s kind of where I thought as well
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