My mother owns mineral rights in Section 3, 12N, 7W. A landman was trying to reach her and so I call him back. He offered $6,450 an acre (3/16th interest).
Anyone else been approached in that area to sell mineral rights?
Anyone know of new or planned drilling in the area?
You say sell, but you mean 3 yr lease -- correct ?
The offer was to buy the mineral rights. It was leased in 1978 with 3/16ths royalty interest.
hasn’t been a huge amount of drilling activity in that area, but that’s a pretty decent offer if its for a lease
i would contact a lawyer that deals in oil contracts...you might get offered like 12,000 or 15,000 maybe more..be careful to jump on it. my husband get offers all the time..we just throw them in the trash....if we ever considered selling..first thing we do....hire a lawyer....a good one is my suggestion...
yes, good advice. seems they would have to be thinking about new wells as the current revenue would not support their offer. I am aware of the Stack play, but just have not been able to find out anything about plans for a new well in the section or those adjoining.
There is quite a bit of horizontal drilling just two miles to the north of you and some just south of you. Keep in mind that first offers are usually low and not probably what final offers will be. Our family does not sell our minerals so we can keep them for future generations.
The leasing in your area has picked up a bit in 2016.
Unless we get an offer we can't refuse we are not selling and holding for our future generation as well.
Thanks for the comments. I agree we should just hold on unless there comes a time my mother needs the money and the price is much much higher, and then only sell a portion to meet her needs. Thanks again.