T35N, R71W, 6th PM, Section 28 NE1/4,NE1/4
Just had an offer on this from someone sounding like a flipper. ANSCHUTZ has a lot of permits in the area that seem to be waiting for approval. If I decide to sell, would it be advantages to go directly to Anschutz, list on a service, or negotiate with current offerer?
Why sell? It’s worth at least ten times what he’s offering if they drill and have good spacing orders even more. They don’t want you to know what you have.
I guess I don’t even know what I have, that’s why I’m asking. We thought since we stopped getting royalty checks our leases were worthless and now there is the potential for extra cash. Here’s the thing. We are in our 80’s and selling seems more practical than waiting for a monthly check. They are in the permitting process. How long does that take?
Gleep, don’t sell. You have 3 new wells on your unit! One only produced for a month (not sure why it is out of production because it looked good), but the other 2 look pretty good. The first started production in Jan & the other in Feb. You should be receiving division orders and your first checks about now. There is a 6 mo. gap after the first month of production until Anschutz must get division orders to you & send the payment for those 6 mos. I’m kind of surprised you haven’t heard from them yet. Give them a call to be sure they have your correct contact info.
Thank you - will do! We moved so they may not have our new address.
From what I’ve seen, anschutz doesn’t pay much but that may have changed. So as far as taking it to them, I’m not sure if it would be beneficial or not.