I just found that 2 wells have been permitted on or near my property. They were approved but not actually drilled yet. They say they will drill at the end of this month. The highest offer I received to buy my land was 10,000.00 per acre? So far. That sounds kind of low. It would only be 100,000 then done and gone??? HUMMM?
Where is your land?
We have two wells in Dawson County, Texas. NEAR in the oil world means NOTHING! Why, you ask? On our block 34, we have two wells. The section is cut in half; we own half, a different family owns the other. Our first well was drilled, and we make about 600 barrels a month. The same company drilled a second well for the other family 150 yards away; they are making 3000 a month! 150 yards is NEAR, cost us thousands of dollars a month!
Karen, if they are offering $10,000/acre someone expects to make a nice profit on the deal. If you don’t need the money right now why not wait and see how those wells turn out?