Anybody know of companies doing any buying out in Hughes County?
I had a few great offers I considered going with last year but dragged my feet & now the companies are telling me they aren’t buying minerals in Hughes County anymore. I had a great offers from Anevay Resources, Atlas Minerals, Antioch Minerals, Yukon Minerals and a few others, but they all said they either cant pay what they originally offered or they’re out of Hughes county for now.
I have had recent health issues and would like to sell my minerals to help with these medical costs. I own 3 states and in multiple other counties with better production that I could sell, but i’d rather sell these if possible. Does anybody know of companies still buying minerals in Hughes?
Ive got almost 200 NMA across 3 sections in 6N-11E. Not looking for the world, just a fair offer. I wont accept $500 when my offer was $2,500.00 less than a year ago, but I also understand how the industry works and I am not expecting to still get $2,500.00 an acre.
If you can shed any light my way, it would be appreciated.
Reagan Smith Energy Solutions and H&L Exploration were the companies leasing in 6N-11E in 2019.
Trinity Operationg and Canyon Creek Energy filed the most OCC cases in 2018-2019. Some have order dates in 2020, so some activity seems to be pending.
The last permits filed were in mid 2019. No new ones yet in 2020. They were by Canyon Creek. Not sure what their operating situation will be in the current climate.
I think you may need to weigh how badly you want to sell vs. the desire to get at least $500/acre.
In today’s climate, unless you have really good revenue every month, it’s unlikely somebody will pay what you would like.
These minerals are here to stay until the price jumps back up, which it will eventually. At the prices of june '19, a P/E offer (payment/earnings) based on expected future revenue would have put the acreage at a price of $2,100.00 per Net Mineral Acre, I am sure you understand why I was not satisfied with my offers.
I am not too worried about the current climate of the O&G industry, it is my opinion that a majority of the “experts” in the industry are scaring people into submission with their long drawn out explanations of the situation we are in, some of it makes so little sense it makes you wonder if they’re intentionally trying to confuse you. I’ve received multiple offers in the last two weeks alone that were not incredible, but are definitely higher than I thought possible.
Private equity firms are gearing up to go on a buying spree, and when you think about it, it makes a ton of sense why. A lot of people who never considered selling their minerals are going to be jumping for joy once these big offers roll in. Everybody wants a nest egg. Real estate and Oil & Gas are both primed and ready for a huge comeback. Buy Buy Buy if you can.
Nick, I received a call about 2 months ago - a company in Tulsa left a voice mail, offer to buy. I called back out of curiosity. A nice visit with the young man calling revealed that he was offering $200 per acre on the small tract he mentioned in the voice mail. I didn’t laugh but thanked him for the evaluation. He than asked if my wife would be interested in selling her interest. He went on to identify that we had interests in other sections which he identified, so I asked if he was aware that all were in pay status and he did. (These are in 4N-11E & 5N-11E) So I thanked him again and he said please tell our relatives that he would like to buy their interests also.