Received offers to sell mineral rights in Carter County Oklahoma section 4 3s3w of 3600 per acre is this a good price
I can’t really tell whether this is a good price or not. I would be more concerned about who the buyer is. There are some companies out there who will enter into an agreement and then try to flip your acreage to another company. If they can’t find somebody, they will walk away. In the meantime, you have something filed in the county clerk’s records that prevents you from leasing, selling or collecting revenue. There are very reputable buyers and then there are some that are not.
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I agree with Tim. Continental has a very active drilling program in Carter County. Offers to buy often come right before drilling as the buyers think they know something. Some buyers keep, some flip and some are working for Continental or other operators. Can’t comment on the price.
If you do not need to sell, you can sit back and wait and see what happens. If you do need to sell, then suggest you get more than one offer to see what the market rate is. You can check www.okcountyrecords.com to see what deeds are being filed in your section and nearby. Families may be buying from one another, so those might not be relevant.
Looks like you already have had numerous horizontals drilled on you covering the Miss, Hunton, Woodford, Springer. Takes a lot of time to look at the filings to see if your interest was covered in all of them, lets assume that they were. This seems like a PDP play since the section is mostly developed, youd have to look at your current monthly income on the wells and do the math on if you get another 1-2 wells, using your past income statements on newly drilled wells as a guide to lead you. Obviously theres a lot of guessing there as you dont know if they will drill 1 or more wells on a heavily developed section nor what the prices of oil and gas will be at the time. So basically, you need to sit down for a day or 2 with a pencil and calculator to figure out if its worth selling. Its a crap shoot for you and the buyer