Our family, not me myself but a relative has recently been approached by a representative of Goodrich Petroleum on an off to buy our rights at 3000 an acre. Minerals are near Centerville and currently under lease to EnCana. Is there any activity in this area. EnCana has made no effort I believe to explore the area, Have no idea about the activity, Any information would be greatly appreciated.
Thank you,
Rodney E Fortenberry III
I don't think I would sell those for that price. We were offered $1,800 a few months back for 130 NMA in T2 in Wilkinson county, some near Centreville (or not too far). I later leased these minerals. While nothing is certain, there is exploration in the area and if you were to get included in a decent unit at 20% royalty those $3000 an acre is a paltry sum for what could possibly be.
How many acres do you have leased and are you interested in selling them? Goodrich appears to be the more active player in the area. If they want to buy those minerals they likely have something planned, I would imagine. Right after I leased my minerals I was also contacted by a rep for Goodrich looking to lease some of the minerals that they a few months previously had not been interested in.
What this all means? I have no idea, but Goodrich appears to be getting much more directed about this whole situation.
Could either of you tell me the section, range and township information for the parcels you are discussing?
Thanks for the input. Rodney
T2N-R1E SEC 25E/2 SW S/2 S/2 and T2N-R1E SEC 28 NE NE
Howard Rubin said:
Could either of you tell me the section, range and township information for the parcels you are discussing?
Thank you sir. If I find out anything about activity, I will let you know. Our family owns fractional interests in several thousand acres of mineral rights so I try to keep up the best I can on action in Wilkinson Co.
Rodney E. Fortenberry III said:
T2N-R1E SEC 25E/2 SW S/2 S/2 and T2N-R1E SEC 28 NE NE
Howard Rubin said:Could either of you tell me the section, range and township information for the parcels you are discussing?
Mr. Rubin:
We leased a small batch of minerals in Sections 25 and 5 T2N, R1W and a small bit in Section 8 T2N, R2W.
Howard Rubin said:
Could either of you tell me the section, range and township information for the parcels you are discussing?
New offer was kicked up to sell at 3200 an acre still playing games I believe.
R. Ike Craig said:
I don't think I would sell those for that price. We were offered $1,800 a few months back for 130 NMA in T2 in Wilkinson county, some near Centreville (or not too far). I later leased these minerals. While nothing is certain, there is exploration in the area and if you were to get included in a decent unit at 20% royalty those $3000 an acre is a paltry sum for what could possibly be.
How many acres do you have leased and are you interested in selling them? Goodrich appears to be the more active player in the area. If they want to buy those minerals they likely have something planned, I would imagine. Right after I leased my minerals I was also contacted by a rep for Goodrich looking to lease some of the minerals that they a few months previously had not been interested in.
What this all means? I have no idea, but Goodrich appears to be getting much more directed about this whole situation.
Mr. Fortenberry:
Well if they increased their offer that usually means that they believe the mineral rights really have some upside value. Choosing to sell them really depends on a variety of factors in your personal situation, just always remember that once they are gone they are gone.
If there is production on your land the $3200 per acre would likely be a paltry sum compared to the long term revenue stream you could get.
Thank you for your input it is much appreciated.
R. Ike Craig said:
Mr. Fortenberry:
Well if they increased their offer that usually means that they believe the mineral rights really have some upside value. Choosing to sell them really depends on a variety of factors in your personal situation, just always remember that once they are gone they are gone.
If there is production on your land the $3200 per acre would likely be a paltry sum compared to the long term revenue stream you could get.
Rodney,
If you’re willing to say, I’d be curious to know who made contact on behalf of Goodrich. The reason I ask is that I have never known that company to buy mineral rights. They usually lease minerals, since they are the drilling and production business. That’s not to say they haven’t recently changed course and started buying minerals to supplement their TMS holdings, but its also possible that some yahoo is falsely claiming he represents an operator that is reputable in the area to appear credible.