I have 8 acres of minerals in SW 1/4 NE 1/4 of Sec. 6, T2S R4W. I’m considering selling but I’m not really sure how much they’re worth. There’s an old inactive well on the property that was plugged a long time ago, but there hasn’t been any drilling or production activity since then.
I sold the surface rights to a local oil & gas operator from Velma back in Feb of this year. He offered $20k extra for these minerals, but I haven’t had any other offers since then.
All the wells that I know of in that area are pretty shallow (400-500 feet.) However, I’ve recently heard rumors that some of the big companies like Devon and Continental are going to start drilling deeper wells in the near future. Earlier this month I talked to a guy who recently received an offer of $60k for his .67 acre of minerals in SE 1/4, NW 1/4, NE 1/4 of Sec 7. He said he thinks it’s the rumors of the big companies drilling that has sparked the interest and offers for his minerals.
Has anyone else heard rumors of deeper drilling activity in that area that might increase minerals values?
Also if anyone can give me at least a rough idea of what my minerals might be worth I’d appreciate it. The other guy getting an offer of ~$100k per acre for his 2/3 acre sounds amazing, but I know that doesn’t mean I’ll get that much just based on proximity.
Continental, BCE-MACH and others are drilling horizontal wells within a few miles of you. Can’t tell you what the minerals are worth since I do not know. If they space your area like the ones nearby, could be significant. All depends upon their budgetary plans over the next few years. You can wait and see what happens, sell some, sell all. Lots of choices.
Yeah I was shocked at that number.
But mineral rights is a new world to me so there’s a lot I don’t know, plus the guy didn’t really have a reason to lie about it so I really have no idea whether or not that’s realistic.
He also told me that he sold 1.67 acres of minerals in Grady for $42k within the last year or so. I found that transaction in the county records and he was telling the truth on that one so who knows.
Interesting, I have not seen that mineral deed. I did see 10 acres (section 18-6N-6W) sell back in August 2024 just ahead of two goddard formation wells being completed for $25,000/acre with a 1/4 royalty.
Note: Posted this about 18 hours ago and sat waiting for admin approval before posting. Go figure.
John_morgan and Don_bray
I’ll try to attach that mineral deed. In case it doesn’t attach, it’s book 6218, Page 476. Sold by Craig Horsman to Kingdom Energy.
The well where these rights were sold is operated by Mack oil. Mr. Horsman said the buyers were betting that Mack was about to repunch that well. He said he’s never known Mack Oil to repunch a well but he figured if Kingdom was willing to bet $42k on it, they must have known something.
Jarrettg, I see the mineral deed. Will have to wait till next month to look at the deed because I have used up all of my “Views” for July lol … Deed covers Sections 4, 5 & 8-T3N-R5W.
So, your acreage is worth the same as all of the other sections in the county? I know these numbers exist because we have paid them, and a little higher. You might want to get your facts straight before you question someone’s experience/knowledge of an area.
You’ve paid 60K-100K for less than an acre in Stephens Co?? Or did I get lost in this thread? 25K, sure! Still pretty high for 2S-4W but definitely in neighboring Carter around the CLR units. I was talking about those other outlandish offer numbers. Sorry if I confused the thread.
… Deed covers Sections 4, 5 & 8-T3N-R5W.