I received an offer on my mineral rights T161N R99W Section 17:NW 1/4. The offer seems very low. How can I find out what a fair offer would be at this time? I have 80 net acres.
I cannot comment on “fair”, but I always ask myself, “what do they know that I do not know” and I am pretty sure they intend to make a profit off of me, so would attempt to find out if the offer is more than the value of the current well and if there are more wells planned. Most of the offers I have received have been less than the value of the current well (taking into account oil and gas prices and the time value of money over the production life of the well).
Thank you! I appreciate your time and will attempt to get additional info from them…
There is a well being drilled in the area, #38323. It is about 3 miles NW of you property. There is no production shown as of yet. You can find it on the map viewer, https://www.dmr.nd.gov/OaGIMS/viewer.htm. It is also on the drilling rig list .
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