My minerals were leased about a year ago. Hearing for permit was scheduled this past February. Have been receiving multiple offers to buy and last week was told there are no longer plans to drill. Still wanted to buy. I believe Citizen was the company that had plans to drill. Why would I be receiving offers if drilling plans are indefinite?
Susan, This Oil drilling business is still the Wild West, almost anything goes – as far as getting our Mineral Rights. I reason that if they want to BUY/Lease they would like to Flip the Deed or Lease because they believe interest is there. I have never sold any minerals and I receive LOTS of low/ball offers ( I consider low/ball to be less than $5000/acre . I am not a professional or an lawyer so please don’t consider anything I say as knowledgeable…or informed… Time is on your side - wait if you can - you or your Grandchildren may be glad you did… ( or maybe not )
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Buying is usually ahead of the bit. Someone thinks they know something.
EOG has permits in 25/26-10N-5W. Citizen has permits in 21/28 and 16/9-10N-5W
Citizen has a permit for 5/8/1711N-10W. SL in 32-12N-10W.
Time will tell if they drill or someone else does.
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