Hi everyone I own 5 acres in that section my mom owns another 5 that we just recently inherited. Was woundering how much they would be worth if I were to sell!? Because the Current lease is horrible 1/8th any information would be appreciated thanks
Remember when you sell you are selling to someone who wants to make lots of money off of your need to sell. The reason they are buying is to make a good profit off of you. They may want to flip it or if under lease wait for production. Others can comment but I haven’t heard of anyone doing well on a sell - Buyers are looking to get cheap deals. Time is on your side if you can wait for lease offers - and you are correct 1/8 is not a good offer, be sure and ask for 3/16 or 1/8. in the a lease.
Thanks bud I appreciate the Advice. The lease was before I inherited it so state made it at the least as possible! I wish I could re negotiate and it would all be the worth but 1/8th we are not seeing much per month that’s why I was only curious what selling looked like
Michael
Hold what you have. Offers are all over the scale. In my humble opinion it would be foolish to sell.
Remember, the big bonus is a one shot deal. The % you agree on is for the rest of the show.
Also; you are swimming with very big sharks, they will eat you.
You are correct that it would not be worth as much since it is leased at a 1/8. What something is worth is relative to what someone will pay for it. Chances are you won't receive offers unless someone believes that section is going to be developed. First offers are always low. I have seen some sales where I think the mineral owner came out on the good side, but they were leased at a 1/4 and they had a lot of acres. You are always welcome to bounce your offers off the forum to see what we think.
Michael, I own some minerals in that area. Can you tell me who was offering and how much?
Thank you.
offer has been up between 8500-10k per acre! im waiting to see if they add horizontal well continental said they were looking into!