Can anyone tell me how much mineral rights are going for in Sec14 3S 4W. I have received an offer and want to make sure I am getting the right amount for them....Thanks
Bill, are you talking sale or lease? Now may not be a good time to do either. A major announcement was made this week and your value may go up as drilling increases. I am in 2N/4W. A year and a half ago I was offered $1400 per acre to sell. Now we have a completed well and just got offered $4750 per acre. Leases that were going for $300-400 per acre are now $1000-$1700. Also depends how serious they are about drilling, many times these people are just speculators looking to turn a tidy profit.
Bill
Can you tell us what the offer was and the company making the offer?
Timing can be key to selling or leasing.
If you are talking about selling, a lot of things come into play. Title trail, If they are leased or not, held by production, current area activity, etc. If they are leased, the terms of the existing lease will come into play.
Almost all of the offers that are cold calls (they just sent you a letter or called) have been low. Most of the lease offers I have seen are a bit low. How much depends on the company involved.
Lease with 3yr- 3/16. Current offer 1250.
Michael Hutchison said:
Bill, are you talking sale or lease? Now may not be a good time to do either. A major announcement was made this week and your value may go up as drilling increases. I am in 2N/4W. A year and a half ago I was offered $1400 per acre to sell. Now we have a completed well and just got offered $4750 per acre. Leases that were going for $300-400 per acre are now $1000-$1700. Also depends how serious they are about drilling, many times these people are just speculators looking to turn a tidy profit.
Bill,
R.D Williams?
I'd shoot for $1000 and 1/5 or $1500 3/16. Although I have not seen more than 3/16 filed yet from RDW. No extension and all of the good clauses. Bearcat and LE Jones is also leasing in the surrounding area and have filed some 1/5s and 1/4s
I don't think the area is going to do anything but go up.
Thanks for you input, it is very helpful especially since I don't live in Ok. anymore. I think Citation just completed a well nearby, is that correct?
Rick Howell said:
Bill,
R.D Williams?
I'd shoot for $1000 and 1/5 or $1500 3/16. Although I have not seen more than 3/16 filed yet from RDW. No extension and all of the good clauses. Bearcat and LE Jones is also leasing in the surrounding area and have filed some 1/5s and 1/4s
I don't think the area is going to do anything but go up.
Citation completed some wells in the Loco unit just west of there. To my knowledge all of the wells Citation has completed recently in Stephens county have been on existing lease units with the exception of a few that were completed in 12 through 14 2S-4W. Those wells were all about 7500' and not in the Woodford play that is getting all the attention.