I’ve been approached by a family member to consider purchase of their mineral rights in the sections listed but don’t see much information about any happenings in these areas recently. Can anyone point me in the right direction to determining a fair purchase price? Family member was recently contacted about a lease for Section 4 and was offered $275 per acre for lease. This would all be new to me as when I purchased my other mineral rights there was already production.
As a newbie, is there anything you suggest for me to look into?
Just my opinion, but if you are dealing with family, it might be wise to get a professional appraiser’s opinion of the value of the current wells and potential for any future wells. Then there is less of a chance of hard feelings. There are appraisers listed in the Directories tab above.
4-6N-7W, There was production through 2019 in the section. Not sure if in the potential acreage. Camino Natural Resources has recent OCC cases for horizontal drilling in the township. Section 4 is under the town of Chickasha, so that might impact drilling. Horizontals can go under several sections.
34-6N-5W This might be a reason to get an appraisal. The sections on either side have multiple horizontal wells. This might have more potential.