I received an offer to purchase my interest in this section for $5200 per min acre. Was wondering if anyone had any thoughts about this section. We thought Warwick Jupiter was planning to drill new wells but haven’t heard anything lately. Any help/input would be greatly appreciated.
Offers to buy often come out right before drilling. In my experience, the offers are usually lower than the value of the upcoming wells. Warwick is planning wells. It takes time for the cases to work through the OCC process.
The first well Mike D 0203 12-1 1WHX spud back in May. 2 WHX & 3WHX spud in July. Not sure if the whole length of the wells were finished.
If it were me, I would rather get royalties from new horizontal wells.
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Thanks so much for the info! Looks like another court hearing is set for Nov 4th. Do you know of anywhere I could find a good sample purchase agreement? The one I received from the potential buyer is pretty much in their favor. They can pay a lower amount if the nra is less than what they put in the contract or just walk away.