Hello. What is happening in this area? My family owns 45 acres here. I own a small portion of these that I would like to sell. What kind of legit purchase offers are folks getting?
Thanks.
Welcome to the forum.
There is a relatively new Cherokee horizontal play in Roger Mills and surrounding counties. Your section has current leasing within the last 24 months. Mewbourne has permit to drill just south of you in 1/12 of 13N-21W. These horizontal wells will generally have higher royalties due to the increased feet of perforation.
I do not buy nor sell, so cannot comment on recent sales with specifics. In general, buyers offer an amount which is about 3-5 years of current production discounted for the time value of money. They rarely tell you about any upside as that is how they intend to make a profit. Be aware that a sale can also trigger capital gains, so you need to know your cost basis and factor that into your calculations. First offers tend to be low to see who will bite.
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Thank you for the information.