I just recently received an offer of $5000 per acre, I own mineral rights in Smith Creek-Converse County! After receiving the first offer, i received a second email stating that there was no activity in that particular area and that Chesapeake had backed out of the deal! Does anyone know if this is a true statement or how i can get access to this kind of information? I believe the email was written as a "scare tactic" to cause pressure, so i would make a haste decision and that is not happening! I would greatly appreciate any help concerning this issue.
Thanks Much,
Greta
Chesapeake does have a track record of making high offers to raise expectations and then abruptly announce they are pulling out and quietly sending a land company to lease for far less. A little research will confirm this for yourself. Chesapeake may then assign the leases at a profit to another operator, they didn't make all their money by drilling and producing, they made alot by getting in early, leasing alot of land and profiting from assignment of lease packages to other companies.
Greta - The $5000/acre offer is 4 to 5 times more than offers I know of (at least in the past year or two) for that area. Something does not smell right for sure.
I've seen "come on" offers much higher than that recently in Converse county that were really an attempt to tie up all land, sometimes many thousands of gross acres, then beat the seller down though any means available, including the threat of lawsuits. Understand that buyers are not in the business of giving the sellers anything. If you think you can take advantage of a hot deal in a hot area, you will loose out every time unless you are also in the business.
If you are truly interested in selling, get an idea from a geologist of the potential then only deal through attorney approved Purchase and Sale Agreements that limit your liability and require the buyer to pay a fair price in a tine certain.