I recently received a letter from southwest energy partners in Dallas tx.they want to purchase my mineral rights in Ellis County Oklahoma,22n 26w section 27.they requested a copy of a recent check stub and they would provide a total offer. anyone know of this company and how should I respond? thanks in advance for any suggestions.I own mineral rights to 52.66 acres. with two active wells which are coming close to the end of their life.there is also two abandoned and capped wells.they offered me 58,000 for the mineral rights. according to them the area is pretty well depleted of oil and gas.thanks in advance for any help or advice.
Melbourne Oill has quite a few pending cases to drill horizontals very near to you. They have current activity in 20 and 21 and 28, 27 and 26 just to the south of you.
I suspect that Southwest knows something and is trying to buy you out before your section has cases. With 52.66 acres, you have a nice position if the horizontal drilling moves your way. Most offers like that are usually very low. I would just ignore the offer and see what time will bring. That area has stacked pays, so that offer seems low to me. Folks making offers are fairly sure they will make a profit off the sale. You may want that profit and royalties instead.
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I do not know anything in particular about this area. That said, you do not have to respond to any unsolicited offer. Much of the time, these will be low-ball offers. Or they are offering because someone knows about an oil company’s well plans. Do you own 52.66 mineral acres or only a fractional interest in the acres? Are the wells holding all depths or are some depths open to lease? The last comment is funny, but also a serious warning to you. If this area is so depleted of oil and gas, then why would this company want to invest? Re-post in the Ellis County OK page and ask about area well and leasing activity.
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