We have 20 NMA, Section 14-11N-10W leased at 3/16th royalty and
20 NMA, Section33-12N-10W with an old lease at 1/6th royalty that we are interested in selling. Anyone received offers recently?
Hey Kristie,
Great timing. I am set to close next week on a mineral package in sections 5, 24, 25, and 27 of 11N-10W, all are leased. Send me a message and i'll tell you what we had to give for them.
Justin
you can see the listing of all our minerals at smresources.net and contact me from there
section 14 already has a horizontal well in it, which means it won't get developed for a while. For a 3/16ths lease in developed section, we're paying around $4000/acre. The stuff we bought was largely undeveloped and was worth more.
I don't know for sure what we'd give for a 1/6th royalty in 12N-10W, but i'm guessing it'd be around $3500/acre
I have heard of $5000/ac in 14-11N-10W and 33-12N-10W. Suggest you read Cimarex royalty presentation next week before you sell anything. You are in Woodford territory although not as thick as the area just to the north of you. We are not selling any of ours in that area.
Thank you for your comments. We agree and even think $5,000 is conservative.
Really? I have 52 acres leased at a 3/16ths in sections 23 and 24 of 11N-10W and I'd sell it right now for that much. Maybe $5250 to cover my title work. I think that's a great price for this area