I have 5 acres leased by Newfield at 1/5. Do I have opinions of what this would sell for per net mineral acre. Val Carter
I would start at $25,000 to 30,000 per acre. Looks like leases are in the $7,000 range per acre.
Are you kidding????
Val,
Buyers will pay up to a transaction amount that will give them a profit based on their estimate of proven oil resources in the ground and the buyers risk aversity. If you don't know the first, how can you expect to get Fair Market Value? Buyers won't offer to pay their secret top price for a parcel unless you demand it. If a seller uses averages to decide, they are sure to loose.
Science found the oil and science is the best tool to use in selling or buying the oil in the ground.
Pooling bonuses in this township have varied between $1250 and $2000 per acre at 1/5. Pooling bonuses in the township to the east have been lower.
Thanks, Stephen. Val Carter
You can always go down in price, but it sure is hard to go up.
Why not take offers from buyers, and let the buyers know when they have been outbid -- don't fall for "what will it take to get this deal done" line. Tell them the highest price. Also, be careful about finalizing the deal, I keep getting higher offers later than the final date I set. The investors decide they can go higher after all. And don't hesitate to tell they what your highest bid currently is.
You have to work it a bit -- but can be worth it -- Now for myself I will never sell - to much profit for the buyer - I would rather have the opportunity for that profit going to my family.
Ask Gary to pay you $25,000.00/acre.
I didn't see where Gary mentioned anything about $25,000/acre?
Val and others -
I've an offer for $2500 per acre for S2 S2 SE4 of Section 25-8N-5W acreage, for a 10 net acres.
Does that sound reasonable?
Is this a lease? If a lease I would ask for 4000 at 1/5... Do you have others also giving you offers? There appears to be 10 or more landmen/companies currently looking for leases in this Township.
No, you should be able to get much more. Please email me if you would like to discuss. [email protected]
New lease just went for $6,100 at 1/5 per acre
Wish I wasn't lease but so appreciate the info!!!! As you initially said lets you know how low the initial purchase price of 7,000 was. Val
Just out of curiosity, where do you get this information?
On this sight.
For those of you in this township receiving lease offers, are you getting multiple offers over the last few months or does it seems to be one company offering the leases?
About 20 different landmen calling --