My family and I are “not sell” people, as the minerals have been in the family for multiple generations.
Most of our minerals are in Carter county, but are not close to 4 South & 3 East so I do not know the going lease amount there.
I do not know if it is a good deal or not, but in 3 South & 3 West we have been leasing for around $1000 an acre with a 3/16 royalty (to Continental Oil).
Our highest offer to sell was for Sec 10 & 15, 3 South & 3 West was for the Dixon well and it was $10,000 per “net acre”. I never checked into seeing how valid the offer was since we are “not sell” people. The Dixon well is producing good oil & gas so that is probably why the buy offer was high.
Curious question to anyone; What is a “net acre”?
If I have 5 mineral acres at 3/16 royalty and the offer is $10000 per “net acre” then would I receive $50000 if I sold?
Or does the 3/16 royalty come into play?
Most of our offers to buy say “net acre” but I am just not sure what they mean by that.
Thanks to anyone for you “net acre” help!