Hi, I am new to this forum. My brother and I have found out we own about 3 Mineral Acres a piece in this section. I’m trying to do some research to find out more about it. We have received a couple of offers to sell. Does anyone know anything about this section and whether or not it’s an active well? Any information is greatly appreciated.
Welcome to the forum! You are smart to do your research before considering a sale.
You need to consider whether you have an active well, but also if you have the potential for future wells. Lots of offers to buy out there at lowball prices with the buyers hoping the sellers don’t know they are giving away future royalties.
You need to give the rest of the location so I can look up your area. You are missing the Range number ?? west.
Hello You very helpful people:
In Section 17, Township 1 North, Range 1 East, is what we have been getting buyout offers on our mineral rights. From the offer we got about 4/5 weeks ago, we had another offer from another buyer. That offer went up about $1,800 per acre. What is happening out there in Garvin County? Take Care stevers
Did the offer go up by $1800/acre or are they offering you a total of $1800/ acre? That seems low to me.
Hello again:! It went UP by $1800.!
stevers
I’m in Section 21 - 4N 4W., Garvin. My sister-in-law got ca, $6300/acre several years back - but I’ve been getting a bunch of low-ball offers from several sources. I’m not interested when the royalties are paying $500+/month right now.
This is with 1/5th royalties ! stevers
Thank you for answering me. I will try to see if the guy who is trying to buy from us has anymore information. He just told me Section 19 1 North West Garvin County. And just from reading on here there are some shady companies. The company that is offering us to sell is Mineral Resource Company. Do you know anything about them? I have learned a lot in a short period of time just reading your post. I will let you know what other information I find out.
Thank you!
Marie, you need to add the rest of your legal. You should have a section (19), a township (1 North) and a Range (?? West). If you give the number to the range, then we can help you better.
Hi M-Barnes,
So I have the information. It is Section 19, 1 North, 1 West. Garvin County. I hope this is what you needed. Thank you for your help.
Hello, I just joined this forum and am finding it absolutely fascinating. My family was also offered a buyout of our interests (that I didn’t know we had) in Section 19: Township 03 North, Range 03 West. any info would be greatly appreciated.
Stephen and Marie, You are both in a little window of Woodford condensate that Continental and Triad Energy are interested in drilling horizontal wells. Hence the offers to buy you out.
David and Lars, you are miles and miles away from this particular area, so if you repost a new topic with those S-T-R in the topic area, you may get feedback on your areas. The geology is a bit different for you.
There are a lot of minerals buyers out there. When they send me letters, I usually ask myself, "What do they know that I don’t? " Then I try to find out. I also ask, “are they going to make money off of me” Yes, in most cases and I would rather have that money. Our family has been in the business 100 years, so we have a longer time sense of the ebbs and flows of the business. Other folks may have a short time frame, not want to mess with it, or have a financial need to sell. Those are valid reasons as well.
If you have family that you want to leave your minerals to, sometimes if it better to hang on and see what develops in an area. After you pass, they may get a step up in value and not have to pay as much capital gains tax if they ever sell.
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M_Barnes thank you very much!
Lars, If you repost in a new topic with any questions you have, then I will be glad to help.
M_Barnes, so are you saying with them wanting to drill a horizontal well on this section they potentially feel they are going to make money from this section?
Also, I don’t have a deed or any documents saying I own this section. My brother and I inherited our Deceased Fathers portion. How do I go about getting the proper paperwork to have it in my name? All of this is foreign to me.
Richard Winblad is an attorney on the forum. He is experienced in inheritance issues. Search under his name using the magnifying icon. He may have already answered the question. Did you get a probate document? Obviously, the minerals buyers found you, so they know something.
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I will search for him. I do not have anything. My uncle is the one who called us about it. I appreciate your assistance. I will get this all figured out one way or the other.