120 acres in logan co. What's it worth?

Oklahoma Mineral Rights Logan County, OK
1

I just found out that 5 people in my family are joint owners of the following W/2 SE/4 of Section 4, Township 17 North, Range 4 West SE/4 SE/4 of Section 11, Township 17 North, Range 4 West

It looks to be two pieces of land 80 and 40 acres each.

The landman has offered each of us $2,250 to sell.

So that is $11,250 total for 120 acres or $93 per acre, if I am doing this right?

Also would you sell it or lease it? None of us really need the $2,250 desperately or anything.

Please advise. And thanks in advance for your time.

2

Actually the landman says we just own 10 mineral right acres not 120. So that makes his offer $1,125 per acre.

3

I moved this over to Logan Co, OK for you.

5

Hard to tell, often mineral purchasers have information that makes them believe the minerals are worth much more.

6

We have decided not to sell and are looking at hiring our own landman.

7

Thanks for your help.

8

OMGooness. I have owned for 12 years roughly and guessing, one half of one fifth of one 16th of half of a quarter acre in Logan County, and I still average about 80 $s a month for the last 3 years, and still insist I will NEVER sell at any price. I keep thinking about what else could be down there or part of a long term grouping settlement like I am in now, for something we still know nothing about. (If this is a trap to get me to sell, I repeat, it will NOT work. I will never sell. Never. LOL