Thanks in advance for any info in this journey. Just learned of inherited mineral rights in this area. I have been able to look up 2 wells going since 2016 horizontal. From the 30 plus offers to purchase, I found these wells: Huffman 1H-30-19, and Huffman 2H-30-19. The baffling thing for me is that the offers range from 1500-12k an acre over the time frame of 1 1/2-2 years. The final offer was a phone call, which compelled me to get a probate into action. I can’t help but think there may be future things happening due to the price of 12k an acre. Trying to learn about pooling and increased density, and leases and such. I’m not selling after reading info here. Any info will be greatly appreciated. Thanks!
$1,500 is to lease… $12,000 is to purchase, correct? I’ve not heard of anyone being offered $12k to lease.
All offers were to purchase the mineral rights, sorry about that. I have about 32 offers to purchase and the very first offer was 1500 an acre. So glad I didn’t know what I didn’t know till now.
An offer of $12k to purchase tells you that what’s down there is potentially worth a whole lot more.
I say “Listen to Randy.”
Hi Darrin - which group was offering $12k? I haven’t seen that yet.
I’d rather not post the company name, but I spoke with him and he sent me a contract to sign that had a 45-day window and they took care of the probate and everything. I am keeping the mineral rights now, learning about all of this.
Darin: If there is a substantial amount of money involved, see a lawyer before you sign anything. Some of these mineral rights are extremely valuable. And you can bet your britches that any first offer will be a helluva lot less than it is worth… so get some help and negotiate!
Thank you for your input Mr. Brock! I am halfway through an ancillary probate at the moment, very excited to finish the process and learn more about upcoming scenarios in the area. I am keeping the mineral rights; two wells have been pumping since the end of 2016. Some good things are sitting out there. I have a great attorney that was recommended from this forum, very on top of everything. Thanks.