Last year I was paid $250 plus 5/16 royalty for a lease on my mineral rights in Bryan County. Recently the same company called with an offer to purchase the rights outright for $1,000 an acre. 3 year lease with option to renew.
No well has been drilled yet.
I don’t see an oil company wanting to purchase my rights unless it’s worth more than $1K an acre. And they are willing to let me keep the bonus money already paid.
Any thoughts or advice greatly appreciated. My O&G attorney wasn’t too helpful. Seemed to think this was a bird in the hand verses two in the bush. He may be right but…
They havent drilled a well in Bryan county in years and no regulatory actions filed in the county in years. How many acres do you own and whats your financial situation like? How many acres do you own and do you need the money? Id sell 1/2 even if I didnt need the money given the facts I pointed out above, just my worthless 2 cents.
All about location, location, location. Do you mean 3/16ths? That would be the most likely royalty. Or 1/6th which is what the last leases filed were. Are you sure you have 260 or is that the gross acreage which was on the lease, not the net acres.
Since you already leased, they have to let you keep the lease bonus amount since it was probably a paid up lease.
If you are on trend with a play that extends into Marshall county, then you might want to hang on.