I have mineral rights to 5 acres in Leon county, J.I. McDaniel Survey A646. I have been getting several letters lately about selling the mineral rights. One offer was $5250.00 but that was before the war broke out with Iran. I guess my question is this a fair offer or should I persure other alternatives or higher price. I am have no experience in the topic. Thank you so much for your input.
Welcome to the forum. I have moved your question over to the Leon county area. Get familiar with the other posts in Leon.
Be very cautious about jumping on an early offer to buy. First offers are usually low to see who will bite. Find out about pending activity so that you don’t accidentally walk away from significant horizontal drilling.
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After taking a quick look at NG prices since late February shows that prices have been quite steady, although there is a recent push toward $3.00 (using the /NQ chart on Schwab’s platform.) The most recent low was 2.495 on 4/27 and today it is 2.88 as I type this. It appears to me that the recent warfare has done nothing to greatly affect the price of gas as it has the price of oil. – Regards, Phil