I have received an offer to buy my mineral rights in Coal County. How do I know if this offer is good, or I am being taken advantage of? Also the company, Spring Rock Minerals, said the acres on my lease are not the amount that I really have. They said mining companies write a lease for more than an owner has by about half. That sounds strange. Is that true? This was a telephone offer which with a little searching seems more serious than a letter. Is this a legit company> Thank you.
Welcome to the forum!
In general, most offers to buy come before something is about to happen and are lowball to see if someone will bite. It is safer to get an offer in writing and never rely on a phone conversation.
The landman statement is only partially correct. Leases have a tract gross acres which probably does not match your net acres. “About Half” is not necessarily true.
Spring Rock Minerals does buy minerals and they also turn around and sell some to other buyers. So if they lowball in an offer and someone takes it, then they can sell it for higher to someone else and keep the difference. Perfectly fine and legal. But the mineral owners needs to be aware that this is going on behind the scenes.
If you post your section, township and range in the Oklahoma Minerals Coal county topic area, you may find out what activity is pending in the area. You need to get more information before considering a sale.
Thank you. I have emailed the lease holder to see how many acres I have according to their records.
Where are your minerals located, and do you mind sharing what the offer was?