We are thinking about selling our right to S27 T19N R07W E2 E2 NW because we got a few offers. But I'm bot sure what's a good offer...any suggestions?
Personally, I would not sell right now (or at least not all of your acres). There are quite a few horizontal wells in your area mostly by Husky. Blake Production filed for a location exception on sec 27 in 2014 but it was dismissed. I suspect that when prices go back up, drilling will increase again.
When you get offers, someone knows more than you do and wants to make a profit. So those early offers are quite often very low to the actual value of your acreage. Maybe someone else in your area has also had some offers and will post them. Most of the offers I have had have been at about half of what the acreage was actually worth. There is some risk either way. Sell and you don't get what it was worth, don't sell and it doesn't get drilled, for now....but think about your heirs. I am fourth generation-thank goodness the ancestors held onto what they had.
Thanks for the help.. the offers have been between $2000-$2500 per acre and we are very green in this type of business. I was guessing the offers were pretty low that came in..
When commodity prices are low like now, some companies swoop in and try to get acreage from folks at bargain basement prices. Read up and get informed before you do anything. Read over the last year of discussions in this county and in Blaine and get caught up to the trends that are being played.
Awesome thanks for everything!!