Another thing to think about, these offers are being calculated on 50-60 dollar oil and $3 NG. What if oil was $90 and NG $5?
Are you related to the Larimores?
I would buy for that price. Today an offer for 11&15 7N 4W. At your price, the buyer could double his money almost immediately. I turned down $15,000.00/NMA.
Have you tried reaching out to Palmetto Energy in OKC for an evaluation of your producing or non producing mineral interests? You wouldn’t know it from their website but a neighbor of mine said he had recently sold some minerals to Palmetto and was at their office for the closing when he found out that they also will provide mineral evaluations, for a price, which he ended up doing on some other properties he wanted to hold onto. What they charged him was much less than the numbers I’m seeing on here, and based on my experience as a sub-surface technical professional in oil and gas for many years I was rather impressed with the end product. Especially considering how quickly they turned it around once the evaluation was requested - less than 3 days. Granted, every evaluation will be different but I was impressed and also surprised that a group focused primarily on buying and leasing minerals was able to generate such a high quality, thorough, and most of all impartial, evaluation on non-producing mineral properties.
How can a company that purchases minerals ALSO provide an impartial evaluation? That is a big ethical no-no in my opinion. I don’t want somebody that has a vested interest in buying my minerals telling me what they are worth because they are sure to short change me. There seem to be too many companies out there that will give you even a free appraisal of your minerals, but just because they want to then broker your minerals or make you an offer.
The best way to evaluate is ask adjoining owners their offers.
You can search the sales in your section> Mineral Sales When you find a transaction, pull up the document and you will see something like this:
Fees & Dates
| Filing Fees | $17.00 |
|---|---|
| Mortgage amount | $0.00 |
| Document stamps | $6.75 |
| Recorded on | 12/31/2018 8:00am |
| Instrument date | 12/04/2018 |
The ignore any with $0 Document stamps.
In document stamps are charged $0.75 per $500 of consideration paid. Using simple math multiply the number by $666.66 to determine the sales price. Then you need to view the document to determine how many acres are involved.
Keep in Mind If a deed say provides a description that states “containing 80 acres more or less” that the seller probably doesn’t own all eighty acres. Some deeds will have the net mineral acres described.
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Maybe you know something I don’t, but examining the document will only tell you the gross acres of the tract covered–not the number of net mineral acres sold.
You are correct, but some deeds will state the net mineral acres subject to the sale. But you usually have to pay to pull the document to review it. This can be costly and time consuming.
McClain County, OK records are now filed digitally at the clerks office. Running title is much easier.
Richard, thank you very much for sharing that link. Looks like a great resource. I notice that the website link you shared does not have information for some of the other counties. Do you know where I can go get similar comparable sales info for Grady or Canadian County?