Hello. I'm new to the forum. So, I would appreciate any help I can get. I have received an offer to purchase my mineral rights in Dewey County, Section 13 & 14, 16N 16W. Has anyone else received offers? What is a good offer at this time?
There's been a bit of discussion about this not long ago. Personally, I wouldn't outright SELL anything. Leasing will bring you more $$ in the long run. Just my two cents
Susan Coolen
I have minerals in 25-16-16 and 11-16-16 and have received offers to purchase also..... Don't sell. You will be better off with the leasing as Susan said. The offers are getting higher..... so maybe they know something we don't.
Do either of you have your rights leased? The offer I've received seems high to me. But, I haven't received any offers to lease. In fact, I've called a few companies and no one seems willing to lease.
I leased several pieces in different sections in Dewey Co last year and have two more on the table now. I get offers to buy my mineral all the time. They just "cold send" letters. Most are mediocre offers. Like $2500 an acre. But if you lease it and they actually drill and hit something........?? I just think there's more $$ to be made in leasing than in selling. Sometimes the area goes cold and nothing happens for a few years. It doesn't cost you anything to keep them.
I wouldn't ever sell mineral rights.
Instead, educate yourself on how to manage them. If they are non-producing you do not pay taxes. Study what you want in a lease form. Read on this forum to keep up with the market, and learn about managing your minerals.
I agree you will get more $$ in the long run from leasing - and if production is found on your minerals - holy mackerel.
High five to John A Hunt! Well stated!
Hey Christy, I some minerals that are leased and some that are not in Dewey Co. also. I was offered $3,300 last week on some. The offers just keep going up. ........
Wow Heather! All I've ever been offered (several different sections in 3 counties) is $2500.....not that I'd take any amount.....
Susan
I've been offered $3100. I have wondered about counter offering. I'm not sure if that is the thing to do or not.
Yes, ours are leased and producing. But that took place in 2010-2011 so those numbers are not relevant now. Again, I tell people, never sell mineral rights. Instead, study how to manage them. Look around this site and other sites for impartial third party advice.
Christy Harms said:
Do either of you have your rights leased? The offer I've received seems high to me. But, I haven't received any offers to lease. In fact, I've called a few companies and no one seems willing to lease.
True story. My mom had a mere 14 net acres minerals in West Texas, near Odessa. It had a small well a few years in the 1950s that barely produced. It sat virtually untouched from the late 1950's until 2008. Then it finally leased again in 2008. That company drilled 8 wells on the section. Around that time my parents had to move into an expensive assisted living. That little 14 acre interest paid their bills in their elderly years. Keep your minerals, study up how to manage them. Your minerals will be good to you.
Christy Harms said:
Do either of you have your rights leased? The offer I've received seems high to me. But, I haven't received any offers to lease. In fact, I've called a few companies and no one seems willing to lease.
What a fabulous story John! I've had some small surprises myself over the years. And now, my small bits of mineral rights are supplementing my early retirement! How proud my Grandfather would be to know his investment paid off !
Susan
Hey susan just had another offer to buy from echo energy. It was $3000. That was yesterday. Right I would never sell either ....but it really makes me wonder .
They just "cold call/send letters" to try and find gullible ppl I think.....
I just round file em cuz nothing would ever make me sell! LOL
Susan
You hit the nail on the head Susan Coolen - Very true - there are buyers with investor money generating mass mailings. The names/addresses can be harvested from force-pooling applications filed at the Okla. Corporation Commission, and/or from county property rolls. The mass mailings might even have some personalization touches to make it look better.
Round file is the place for those cold calls/mailings . . .
Susan Coolen said:
They just "cold call/send letters" to try and find gullible ppl I think.....
I just round file em cuz nothing would ever make me sell! LOL
Susan
Speak of the Devil! I got TWO letters t'day! LOL One from Route 66 offering $2500 per and one from Trail Land & Royalty offering $1500 per. Both for Dewey Co different sections.....<snicker snicker> As if....
Susan