Hello. In the last - approximately - year I have received many offers for my Blaine Co. mineral rights. Moreover, they have been increasing offers by the same five or six companies. The offers are now more than double the initial offerings. At a time with gas prices so low, I do not understand the sudden interest and increasing intensity. I have only one well, on one of three properties, that produces, and it has been dismal for 5 years. What has become so attractive to the energy companies that they are making sizable and rapidly increasing offers??
I am not an expert in the oil and gas business. Everything I have learned about it came the hard way.
But my two cents on your issue: You don't know what is down there, but they do. Nobody wants to buy worthless mineral rights, so we know there is something good down there. The earth is laid down in layers, one layer may produce gas and another oil. One may produce better than another while one may produce nothing. It is like unto a stack of pancakes. They know what they are doing. Just because the revenue from your wells is not much, does not mean there is no value there.
The prices of petroleum products are currently low. That is because some nations in the Middle East are dumping the product to fund their social welfare states. They don't want ISIS to gain a foot hold.
This deal with Iran virtually guarantees that there will be a war. When the first Iranian atom bomb goes off, the product price will sky rocket. Don't sell your mineral rights. Hang in there for the long run.
I am sure others will have different ideas, but it is up to you to decide how to handle the issue.
What is the sec. t. r. and I will see if I can see why the bids are going up.