In 2011, my father passed away, and we are now finding out, that he had several mineral rights in Logan oklahoma. Problem is, they were never transferred into my mothers name , after his passing. We have now been approached by a land man who wants to purchase the mineral rights, on three of the parcels. He has offered $1,450 an acre for section 24 17N 2W, section 17, 17N 4W, and section 24 18N 2W. He's also offered to help transfer the rest of the mineral rights into my mother's name as well. He said it would cost between 3 to 4 thousand to do that. That would then come out of the total offer of $46,763. I want to get the best, and fairest deal for my mother, so what I need to know, is , does this sound like a good deal? My mother is 80 years old, isn't in dire need of the money, but it certainly would be helpful. It may cost more for a lawyer, but is that the wiser way to go? the land man's name is Tommy Ogden,from Pentex exploration. Has anyone ever dealt with him, or his company? Thanks for any feedback
17-17N-4W has several producing wells. Have revenues being paid on your minerals? If not currently, maybe with the passing of your Father, they have been suspended and are awaiting instructions on who gets the check?
I don't show current production in section 24.
If money isn't needed immediately, you might consider leasing the minerals versus selling them. You can always sell them later.
depends on what the oil production is flowing in the area around it.
I was offerd 6000.00 dollars an acre for 80 acres of mineral rights