I received an offer from Boomslang Resources to purchase my minerals in both these sections.
Is there any activity in this area or any future activities planned?
They are offering “up to and over $22,000 per net mineral acre”
I have 5 acres so I have no clue what that would mean for me. To me that would be 5 x $22,000 but something tells me it’s not that easy.
Thanks for any info you can share with me.
Given that they are one of buying companies backed by lots of money, they are snapping up acreage in prospective areas. The “up to and over” will depend upon if you are leased and at what royalty rate. Lots of teaser offers out there. Just assume that they know something you don’t and they are going to make a nice profit off of you at that offer.
There has been quite a bit of leasing in that township by Continental Resources in the last three months. That usually means they are possibly thinking about drilling a horizontal well. If you don’t particularly need to sell, you might want to consider hanging on and see what happens. There a few horizontal wells in the township already.
The forum has quite a bit of conversation on the pros and cons of selling your minerals. I am usually in the “hang on to them if there is about to be drilling” camp. Each family needs to do what is best for them. If I had to sell, I would always ask for more than they offered, get at least three legitimate bids and then decide.
I own minerals in Sec. 3-3 South, 3 West, does anyone else own minerals that are getting letters to purchase in this Section? I was offered $2500 per acre and wanted to know if that is a good deal.
Thanks,
Hello All,
This week I received an offer from BT Resources as well as from Boomslang Resources for Carter County, Section 8, Township 3S - R3W… The original offer from BT was for $4,000.00 per acre. The next day BT called back with an offer of $6,000 per acre. Today I received a letter from Boomslang for the same property and they too were offering up to and over $22,000 per acre… I did a google search on Boomslang and read the reviews… In short they were not good. Bait and Switch… In regards to BT I could not find out anything on them other than they said they were working for Continental Resources…
Just an FYI on the Continental buybacks. They reported in their last investor presentation that they intend to make 4X their purchase price on purchased acreage. That tells me that the offers are four times too low to the mineral owner…
Thanks so much, I’m trying to find a company or lawyer who can help me review all of these offers and choose the best one. Any tips?
There are several attorneys listed in the directory above.