I have an offer of $1950 per net mineral acre for my mineral and royalty interests for Ferguson, W Survey in Smith County, Texas. I don’t recall any recent activity - anybody know if there is new activity in this area? Thanks.
Valence just drilled one of their Goodland lime wells (Lily) that extended into the very north part of the Ferguson Survey. Some of their wells have been very good.
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Thanks so much! Lily has been doing very well for me so I’ll see what happens.
If Lily is doing well for you, that’s exactly why the offer came in. Buyers don’t send $1,950/nma without knowing what’s under the ground - and they know more about Lily’s production than most sellers do when they get the offer.
Is this the first offer you’ve received on these minerals?
This is the second offer from the same company. They referenced a previous offer which they were upgrading.
Valence has permits for two additional wells called Melodye just north of Noonday.
Thanks for the information!
Interesting. I am in Smith County the Duprey Survey and I keep getting an offer from Caddo Minerals to buy the mineral rights for only one horizontal well operated by Diversified Energy–the lease however is owned by Sabine. I find this very strange. Any comments?
There can be many lease owners in a survey. Wells frequently have several working interest partners in a well, but only one is the operator.
Offers to buy often come when the buyers either want to buy current production or know that future activity is pending.
i guess my question is why only one well–there are 6 others. This of course the best producer.
Of course, they want the best one!