A few days ago we received an unsolicited offer to purchase mineral rights.
We own 2 1/2 acres in Section 19 of Grady County.
We were offered $1000 per acre.
This seems extremely low - but maybe not.
Help me out here if you have a chance.
M
Ridiculously low, that's even low for a lease much less a sale.
Highest amount I have heard in that township is $8742/ac but over on the eastern half.
Your offer is quite low! Put it in your info file, but put a big X through it.
Linn Energy has a pending horizontal well in your section. They just got out of bankrupcty and will have a new name and new plans for drilling. Hang in there and ignore that order. Someone is trying to get into the play on the cheap. Really cheap.....
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I also own in this section, on the east side. My initial lease with Continental was $1500 per with 1/4 interest. So many offers lately for purchase up to $28,000 per mineral acre. I think more wells are to come soon. Don’t sell unless you need money. Amount you receive over life of well will be significantly more than any offers.