I own a 1/30 share (21.66 acres) of 650 pooled acres in Yoakum county (section 89, block D, Abstract 601, John H. Gibson Survey. I actually control 2 such sections but one is already leased.)
I have an offer from KLMC for $350 NMA and a 1/5 royalty. This is a bit more than I was given for this back in 2011, which surprises me since oil prices are now so low, but I really know very little about all this.
Is this a fair offer? Anyone know what is going on in this area? Thank you.