Have received numerous offers to sell minerals over the past year which we own in 7-18-13 and looking for input on fair market offers in that region. We have 40 acres in this section which were leased in the last year but are considering whether to sell or continue with lease. Just received an offer for 6500/acre. Previous to this the highest offer we have received was 3750. Knowing that a first offer is going to be low ball, just trying to get an idea of what we could reasonably expect to obtain, given the current activity in the area.
For what it’s worth, in 7 16 10 we have had offers up to $25k with indications that higher offers are being considered. We do not plan to sell at that price.
Newfield has hit a pretty good well in the section next to you in 8-18-13. They have not released the results of the production tests yet. It is evident that it is both producing natural gas and oil. Your offers will go up. We are leased to Newfield in 3-18-13 and we are disregarding the offers to buy our mineral rights. Now, if the offers went to $20-25,000 per acre, we would re-think it and possibly sell some of the minerals.
20 net acres in the NW/4 SW/4 Sec. 8-15N-10W, Blaine County which resulted in a RI of .00390625 (640 acre unit).
Id like to know if the people who offered you the 6500 what there phone number and company name is?
Lesley, There has been a 'hold-up' regarding the release of production records on Brown Farms well in 8-18-13. The snafu has been settled as I understand it and production records should be out anytime. It is being produced at 3,000 units of natural gas a day, but my source did not know the oil production on it.
Ive now been offered by Red Stone 8,000 per 1/8 which is 32,000 now. What do you think?
Devon Energy is drilling a sidewinder for fracking and looking for natural gas.
I recieved a letter from them.
20 net acres in the NW/4 SW/4 Sec. 8-15N-10W, Blaine County
Red Stone is a flipper. If they're offering you $8,000 per acre then it's worth more. Friend me if you want a better offer. I know people active in the area.
Steve- who made those offers to you. I have acreage in that same area?