I'm surprised by the sheer number of offers to buy our minerals. I am the point of contact for 4 family members so I get 4 copies of every offer. The dollar amounts they are offering is tempting but fortunately we're in a position that we are not desperate for the money.
I was very annoyed when one of them called me on my cell phone. They had to do some serious research to get my phone number.
Now they are knocking on my door! This morning I had a man knock on the door and claims that his company is offering $10-15 thousand dollars for minerals in Howard County. I have a hard time believing they would pay that much but even if it is true, we have no desire to sell.
I live 300 miles away from Howard County, have an unlisted phone number, and my name is so common that it should be difficult to track me down. They are going to a lot of trouble to send someone this far.
Do you know if they are drilling where your rights are?? If so, you may have "suspense funds" just sitting there waiting to be claimed. My cousin was offered that much for the rights and she accepted......however, they found out there were 4 heirs. They offered us significantly less.....the other 2 accepted. I did research and found "suspense funds" that were way more than was initially offered to my cousin. In addition to 9 pumping oil wells (that we were told didn't exist). Take the legal description of your rights and plug them in to the Texas Railroad Commission interactive map and find out the status. Trust me, there is a reason they are showing up at your door. When in doubt, hire an oil/gas attorney. Well worth the money!
it's about times things are picking up in Howard County. ask them for a lease proposals and work from there... upwards and onward! we've had more than 500 acres leased for years... still no drilling. low bonus payment... but good royalty. will let you know when they start drilling.
Donna,
Unfortunately, it isn’t going to stop anytime soon. It will probably only get worse. Companies are constantly looking for ways to be different. Technology can do many things these days, there are numerous websites that someone can buy a subscription to and find out anything about anybody. Depending on what section you own in Howard County and your royalty his numbers aren’t very surprising. At what point does someone decide to sell…if ever? I would propose to at least listen to everyone that contacts you and learn as much as possible about your minerals. New information is founded daily in the oil and gas world. As annoying as it may be to be constantly contacted have a positive attitude and turn it into a learning experience and retain the good and dispose of the bad provided information because this isn’t going to stop.
These offers are not out of line. Remains to be seen how real they are.
BTW, in the investment biz being in a position where you don't need to sell is called having "Strong hands". Also, however annoying sometimes, offers give you some idea of the market and how to ultimately price an asset.
Are they offering to "buy" your minerals or "lease" them? $10-15 thousand an acre or for a certain number of acres? thanks
Both properties we own were leased several years ago and all are producing.
Many years ago, the landowners traded small portions of mineral rights. In other words, "give me 10 acres of minerals on your property and I'll give you 10 acres on mine." I think I've managed to find all of the ones we inherited, but it's possible more may pop up. I've found 3 because I received a tax statement from the county.
We are not selling anything so they won't have the opportunity to try and take advantage of us.
He claimed that they were paying $10-15 thousand per acre to buy the minerals.
LOL, I guess we have "strong hands." We tend to be very frugal and have saved and invested all our lives so we're not forced to sell any of our minerals. We look at these inherited mineral rights as a lucky surprise.