Received an offer to sell non-producing mineral rights in Henderson County for $500 per NMA. Is this a fair offer?
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You would need to give a block, abstract and section. But the basic answer it is a probably fishing offer to see if you will bite. Most offers to buy are sent out before drilling, so you might lose out if you sell now without finding out about pending activity.
As my attorney says “a fair offer is a willing and informed buyer under no compulsion to buy and a willing and informed seller under no compulsion to sell agreeing on a price.” The buyers are MUCH more informed, so proceed cautiously. Buyers intend to make a nice profit. Some do. Some don’t.
Thanks for the reply. Just curious if other Henderson County rights owners received the same initial letter. It was from GAC Land & Minerals out of Corpus Christi.