Solicitation for mineral rights Bryan County Oklahoma

Oklahoma Mineral Rights Bryan County, OK
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I am posting under General as I didn’t see category for Bryan County Oklahoma.

I and relative have recently been solicited by Ferrell Oil to purchase mineral rights on S1/2 SE/4 SW/4 and S1/2 SW/4 SE/4 Section 8-75-12E Bryan Cnty OK., 20 acres minerals. Now in 2008 these section were leased to Chesapeake Energy for $900 per acre for 36 months. They did not renew so the area I assumed was not productive. I see no activity in this area today including stack plays or scoop plays.
The offer from Ferrell Oil was to purchase at $300.00 per acre, yes laughable. My questions are:

  1. Is there something there we are not aware of?
  2. Why a purchase offer and not lease?
  3. I am thinking I should not respond or counter a lease option? Thank you for any advice in advance
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https://www.mineralrightsforum.com/c/oklahoma-mineral-rights/bryan-county-ok

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Nothing was drilled in 8-7S-12E. That area is not in the SCOOP or the STACK plays. It is in a completely different basin. It is part of the Ardmore/Marietta Basin.

If you don’t have a reason to sell, then ask for a lease. The area does have Woodford in it, but probably gas. Chesapeake drilled a well in sec 2 back in 2008 for Woodford, but it was a dry hole. At the time, that may have condemned their acreage.

Interest is moving into Carter County and Marshall county has had Woodford production for a long time, so maybe someone has an idea. If it were me, I would ask for a lease and hang on to see what happens. The west side of Bryan County has production, but where you are in relation to the faults is important.

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