What are current offers for mineral rights in Section 21-9N-11W of Caddo County, OK? We received an offer in March, 2022.
If you are talking about a sales offer, be aware that first offers are generally low just to see if someone will bite. One needs to find out if there is pending drilling and offers may be ahead of the bit and hope to catch unsuspecting owners before new wells come. At the moment, there are no new permits in 21, but the area has activity close by.
There were four new horizontal well permits in the last two years. Sections 10, 20, 24 and 25.
I have received two unsolicited purchase offers recently for as much as $2500 per acre.does this seem reasonable?
I would be wary of any “as much as” offers. I get those types of offers all the time. The high end may be related to a 25% royalty or may be totally bogus and just used as a teaser to get you to reply. Many companies send out mass mailings like that.
My assumption is that any time I get an unsolicited offer, the offering company knows something I do not know and they certainly plan on making a profit off of me. I ignore them and try to find out what they know. Usually, they know about drilling about to occur.
I suppose I should be more specific. One of the offers was about leasing with the intent to drill a horizontal well that also offered a different amount that was not enough to be interesting for purchasing the rights. The other was for purchase of the rights with the intent to hold for future development possibilities. It seems Sanguine Oil is capping wells in 29-9N-11W and does not respond to my question about their intentions since I believe their leases are running out.
King Energy is proposing a well (29-9N-11W). They filed an Application for Pooling, Case Number: 2022-001194. You can look that up on the new Electronic Case Filing website.
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