I inherited 2 acres of mineral rights in Section 6 8N 10W. I have received an offer of $650 per acre. This area does have 2 operating wells. However as I will be 79 years old this year, I am seriously thinking about selling these.( I do have other rights in Section 2 that I am keeping). I only receive $50-$100 per year from this. Should I sell at $650 or ask for more?
If I were thinking of selling and received an unsolicited offer, I would find out about activity and would generally ask for more than what was offered.
There is a horizontal permit two miles from you, so someone might know something which prompted the offer. Active lease, an OCC case and a permit in section 3.
What formation is targeted in wells in this area ? Anyone know of any activity in 5 N 9 W or 5 N 10 West ? Thanks
What sections in 5N-9W and 5N-10W? Quite a few formations have wells in them. The most recent permits in those two townships are in the Bartlesville, Caney, Chester, Marchand, Mississippian, Niles, Springer, Woodford, Yule. More activity in 5N-9W than 10W