We’ve received 3 offers, starting at $1250/ac and now at $2200/ac from Waker Energy. Obviously something must be going on or they wouldn’t be so aggressive. We’re ignorant about this stuff, but want to get either the best offer or hold if drilling is imminent. The land is Lot 2 (aka NW/4 NE/4); SW/4 NE/4; W/2 SE/4 NE/4 or Section 2, Township 4 South, Range 1 West Carter County. Thoughts?
2-4S-1W does not have any pending permits at the moment. However, Continental Resources has quite a bit of horizontal drilling in the area. The buyers may know something is coming.
And one other dumb question…We believe we own mineral rights on 12.5 acres, but I can’t find it spelled out anywhere. Does the land description above denote 12.5 acres? Thanks again.
Thank you for your response. So what would be a sound approach? Call other companies and see what they would offer? So in the end, you just decide between a certain payoff now or an unknown, probably larger payoff later.
The land description above is approximately 100 GROSS acres, more or less. So you would own a portion of that. Waker Energy just leased its own mineral interest to itself. That is the only lease in the Section for many years. You would have to run the records of the county clerk from inception to determine what your net acre interest would be.