Thanks for the replies, and information... this is Connie's husband, Drew.... We don't own full mineral rights... we have a non-participating (?) percentage... not sure what the percentage is. I'll have to check on that. My grandfather and grandmother sold this ranch back in 1947 to Mr. Good, but kept these mineral rights.
We were surprised at the amount of the offer... sounded like a lot to us, since it's been basically non-productive for a while, but were a little suspicious, too.
We are currently trying to check into the probability of future drilling, as we've heard about the very likely huge amount of shale oil in this part of west Texas....
We have a lot to learn, and are in no hurry to sell.... especially if it is to some off-shore company. We think that our domestic oil should stay domestic... perhaps a naive viewpoint, but there it is.