We leased our mineral rights last year in Lynn county and received an unsolicited offer to sell our mineral rights for $950 an acre this week. Has anyone heard of any other activity like this in Lynn County and if so what was the offer price?
I have mineral rights in both Dawson and Lynn Counties. Last fall, I was offered 2.5 times what the rights were leased for in Dawson County. However, I decided not to sell. The offer was unsolicited from a company my family and I had not dealt with in the past. I did not check into it any further to see if it was a fair offer or not. I have recently been advised that Shell Oil has been assigned most of our lease holdings in lieu of the original company we leased with.
We leased our land in Lynn County, back in September to SWEPI (Shell), we were in negotiations for 6 months with the middle man. We haven't been contacted to sell our mineral rights, but I'd imagine thats a good sign for future exploration of your land. I heard Shell bought out the majority of leases in Lynn County, and they plan on starting mapping/driling this spring. They drilled a test core in Lynn county on January 18th, I don't know the results, and wish I could find out. I check the rrc new drilling apps querry regulary and there haven't been any this month, there were 2 last month, and quiet a few more in the months previous. There are many rumors floating around as to wells drilled, and results ranging from 100 bpd to 700 bpd. If anyone knows of wells drilled and results in Lynn County, its be great to hear. In my opinion, if someone wants to buy your mineral rights that are leased, then someone thinks there is something there. At least that makes sense to me. Any info on drilling in Lynn County is appreciated. Also, fyi my farm insurance guy said every available drilling rig in Texas is headed up to Lynn county and the general distrct 8a area. Again, i don't have proof for anything, only word of mouth...except for that SWEPI drilled a test core on the 18th..That I got from the horses mouth.
I've now had a second company contact me wanting to purchase my mineral interest and they increased the offer to $1050 per acre. I am in the southeast corner of Lynn county near Garza county southeast of Draw.
I am considering selling a portion of the minerals and keeping the remainder in case they drill in the future.
Carl odom
Josh Hatfield said:
We leased our land in Lynn County, back in September to SWEPI (Shell), we were in negotiations for 6 months with the middle man. We haven't been contacted to sell our mineral rights, but I'd imagine thats a good sign for future exploration of your land. I heard Shell bought out the majority of leases in Lynn County, and they plan on starting mapping/driling this spring. They drilled a test core in Lynn county on January 18th, I don't know the results, and wish I could find out. I check the rrc new drilling apps querry regulary and there haven't been any this month, there were 2 last month, and quiet a few more in the months previous. There are many rumors floating around as to wells drilled, and results ranging from 100 bpd to 700 bpd. If anyone knows of wells drilled and results in Lynn County, its be great to hear. In my opinion, if someone wants to buy your mineral rights that are leased, then someone thinks there is something there. At least that makes sense to me. Any info on drilling in Lynn County is appreciated. Also, fyi my farm insurance guy said every available drilling rig in Texas is headed up to Lynn county and the general distrct 8a area. Again, i don't have proof for anything, only word of mouth...except for that SWEPI drilled a test core on the 18th..That I got from the horses mouth.
I am in new mexico but have minerals in terry some of my friends have stuff in lynn and we are hearing the same stuff I have some contacts that have ask me to see if any minerals could be bought in lynn. I plan to be in area in march and do some nosing around. when I get over I will pop up on lynn county and will see what is going on there. the last two weeks wellman and seagraves there has been 200 boxcars of frack sand unloaded at rail sites. how many wells can be fracked with 200 box cars of sand ?
Thats interesting dubose, and supports the info I got from my insurance guy. how many wells can be fracked with 200 box cars of sand?
I'd say thats a good sign Carl, and a good plan as well...I'll keep this group posted of any new developments I hear of.
Carl odom said:
I've now had a second company contact me wanting to purchase my mineral interest and they increased the offer to $1050 per acre. I am in the southeast corner of Lynn county near Garza county southeast of Draw.
I am considering selling a portion of the minerals and keeping the remainder in case they drill in the future.
Carl odom
Josh Hatfield said:We leased our land in Lynn County, back in September to SWEPI (Shell), we were in negotiations for 6 months with the middle man. We haven't been contacted to sell our mineral rights, but I'd imagine thats a good sign for future exploration of your land. I heard Shell bought out the majority of leases in Lynn County, and they plan on starting mapping/driling this spring. They drilled a test core in Lynn county on January 18th, I don't know the results, and wish I could find out. I check the rrc new drilling apps querry regulary and there haven't been any this month, there were 2 last month, and quiet a few more in the months previous. There are many rumors floating around as to wells drilled, and results ranging from 100 bpd to 700 bpd. If anyone knows of wells drilled and results in Lynn County, its be great to hear. In my opinion, if someone wants to buy your mineral rights that are leased, then someone thinks there is something there. At least that makes sense to me. Any info on drilling in Lynn County is appreciated. Also, fyi my farm insurance guy said every available drilling rig in Texas is headed up to Lynn county and the general distrct 8a area. Again, i don't have proof for anything, only word of mouth...except for that SWEPI drilled a test core on the 18th..That I got from the horses mouth.
We got the same offer of $950. NOT selling.
page I think they should pay that much for bonus money get and watch the oil movie there will be blood and stars fell over heneryetta robert devaul see how ruthless they can be.
I am sure you all know this but since I am new to this and have taken a crash course the past few months I wanted to point out that mineral rights and leasing rights and royalty interest and executive rights can all mean something different. Perhaps they wanted to actually buy your mineral rights, like say, all of them. That is a very common practice and people actually sell them. Hard to believe, but very true. I would never sell my mineral rights. I am currently negotiating an OGL with Coastal.