I have been offered $750 an acre Stephens Co., Sec. 22-T2S-R4W. Is this a fair price? 3 yrs. & 3/16th royalty. Any idea on the avg. sale price in that section? I'm a total newbie
Bill,
I replied on your other post but this is a better place for it.
I would pass on the offer and hold for the nearby pooling orders to issue. I think you will see higher numbers.
Regardless, the lease bonus amount may not be the most important part of the lease. You have a lot of reading to do! ;)
I do indeed...thx again!
Reply by Bill Allison 31 seconds ago
Thank you Rick. Should I "counter" at a higher price or just sit tight? Is there activity in that section?
Bill,
The question is more complicated than it seems on the surface. A lot will depend on your personal situation. How much property you have, your risk tolerance, your financial situation, age and health, long term vs short term goals etc). One of the "a bird in the hand worth five in the bush kind of a deals"!
I just received an “Order of Payment” for 1500 and 22% for Sec 22 /1N /6W. Know nothing about any of this. How can I find out where this location is? I have a separate properties I rec’d orders for.
Steve, That's a link to the Stephens Co. "township/range" map. First, use the 1N/6W coordinates to find your general location. Then use the "section" number to find the 640 acre "section".
PS Steve, The "Comment Wall" is the plasce to ask questions. People like Michael Hutchison & Rick Howell are really helpful & kind!
William, thanks for the help but I tried the link and got the blasted Error 404. What is the website to get to that site?
Willam A. said:
Steve, That's a link to the Stephens Co. "township/range" map. First, use the 1N/6W coordinates to find your general location. Then use the "section" number to find the 640 acre "section".
Try the entire thing (think I missed the last part when copying). Forgot to mention, copy & paste the link into your browser instead of double clicking on it. Hope it works! If not, go on the "comment wall" and ask if anyone has a Stephens County "township map" link. Good luck!
FileNotFound*U*J4PahaQRR4HhhFsJHjw7gV6RdLt5ZbdN1yti43FvVW/StephensCountyMap.pdf
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Steve, I think it's an Amer. Petroleum Institute map, but you have to join to get access to the maps. The link was posted by someone on this forum & said just to copy & paste into your browser.
William, these are old but you can get a general idea of where you are. http://www.okgenweb.org/okprojects/stephens/stephens-matrix.html