This company is new and offered me 11,500.00 for 3 acres that is producing at low numbers. Does anyone know about this company, I’m a little leary.
If you give your section, township and range, we can look up if there is pending activity. Offers to purchase frequently come ahead of the bit because someone thinks they know something. (And so far, my offers have not equaled the value of my subsequent production.)
Is the offer $11,500 per acre or total?
Total is 11,500.00. Section 33 township 8 North Range 6 West. They are drilling but low production.
What is the name of the well that is producing in low amounts? I am not seeing any wells in 33-8N-6W. 5W has wells in sec 33.
Various companies have permits to drill infill wells near that area, so offers to buy often go out to surrounding sections.
The Odom #1-4-33XH drilled in 2014 by Continental is the multi-unit well for Section 33. It is producing from the Woodford.
Thanks. I didn’t look far enough south for the SL
Wells naturally decline over time. Companies will typically hold the lease with the first well and if the economics are good, they will come back and drill infill wells when the timing is right. I have received quite a few offers to buy right before or soon after I get the increased density paperwork.
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