What is everyone receiving as far as offers in the kingfisher area. I know your location, current production and royalty interest play a big role but just trying to get a general idea of what other people are being offered.
Thanks.
I received an offer of $15,500 an acre with a 1/8th interest.
Ditto, would like to know what has been offered especially concerning that one huge well was announced recently and some other good wells. I received one offer (section 31) of $6,500/acre but I think it wasn't very serious, maybe just fishing.
I've been hearing people receiving offers under $7,000/ac for their 1/8th royalty interest. Either you and Marcie got really lucky, or someone is just shooting those numbers out in hopes someone calls them back at which point they hit you with a lower price. those 1/8th royalties are usually subject to old leases that are held by production, the norm for newer leases is a 3/16th.
Be careful all, a company by the name of BCF Minerals has been sending out letters, trying to get people to sign an intent to sell, at crazy high prices.
I have spoken with two people in the last week!
One, got a letter from them for over 660k for their minerals, in may! And they signed all the forms and sent it back. They can not get ahold of them.
The other, just signed with them as well, and hasn't heard a word since he sent it back beginning of july.
They send out info, get people to sign, and do not pay or do not contact them again.
Not sure why they do it, but I keep hearing about it. There is stuff on the internet about them scamming people as well. You should be able to search and find it.
Be careful and make sure its not them. There are also several companies that do the same thing.
5k for 3/16th in Sec 1
The best thing is to only offer limited information, but NEVER sign anything until you have the cash in hand!
Kaye, in an ideal world that would be the ideal way to handle business, however 99% of the time companies will not pay you before you have signed something stating consent. Reputable companies have had title run within the last few years in a section their buying in, so they general want at least a PSA signed so that they can send a landman out to verify ownership before they get a mineral deed signed/pay.
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Yep, my experience is that once they think you’re on the hook you can’t get reach them. I finally decided not to sell, too much trouble and too much B.S. The supposed buyer never sent the documents promised and neither did the fellow who made the contact (landman). With a number of new wells going in I figured I’ll just wait and see what the production is and take the royalties. Extremely frustrating experience.
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may i ask what company is sending these offers ?