Family friend received an offer 12/2023 to sell their mineral interest in 480 acres in Houston County for < $1000/ac. Note a post from 12/2022 with offer price of $10,000/ac. Minerals are in Marcelino Salas, D.H. Eden, Sampson W. Stowe & Thomas R. Townsend Surveys, Houston County, Texas.
Have prices fallen from $10K/ac to < $1K/ac?
Thanks.
All you have to do is look at the price of natural gas on those dates and you can get an understanding of why the huge drop in value.
The well drilled or offsetting wells that were drilled obviously weren’t great? And natural gas prices are down. It happens more often than not. The majority of the posts on here are never sell, but then years later people are wondering why their minerals aren’t worth what they could have sold them for and asking similar questions.
Thanks Todd and Bob… That $10,000/ac sounded too good to last. Gas prices and activity not picking up in Houston County. Regardless, someone is back in the area buying minerals. Coming from the industry, I usually say, ‘never sell minerals.’ But, agree Bob, sometimes the bird in the hand…
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