I have received an offer to outright purchase my mineral rights in Lincoln County Oklahoma for $240 per mineral acre. The location is 21-15N-4E. Is this a fair offer?
There are active applications for drilling near you for horizontal wells.
Offers to buy frequently come out when the buyer knows something about future drilling. Early offers tend to be low to the final value of the drilling (in my experience on my acreage.) If you do not need to sell, then just sit back and wait and see what happens. If you do need to sell, then I would ask for more.
My attorney gives the definition of a “fair offer” as “a willing and informed buyer under no compulsion to buy and a willing an informed seller under no compulsion to sell agreeing on a price.” Unfortunately, the buyers tend to be more informed and they intend to make a profit off of any purchase.
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I too got similar offer not far from there. I’ve been getting several notices this year of lease activity in Lincoln Co, OK. I’m waiting on a follow up as I believe to be worth more or with frequency of leasing activity maybe picking up, I’m inclined to wait for another lease offer following one that ran out last Feb.
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