I have received an unsolicited offer of $7,632.50 for 1/6th interest on 43 acres from Tripple Crown Acquisitions. Does anybody know of any oil play at the Joseph F. Johnson Survey A-174?
Venado recently permitted an Eagle Ford well in this same survey (see attached). They have several EF wells permitted / drilled / producing across the county.
Offer seems low in my opinion.
2012-VenadoEFWellA174LeeCo.pdf (102 KB)Selling depends on a lot of issues. You can sell half or all or just a 1/4 or a 1/3rd. First, there is your age. Then, your health. Do you want to hang on so your heirs can inherit and you die without? That makes no sense either. My brother in law sold due to his age. He wanted to take his 1/2 million dollars and travel. He is having a blast! Nothing wrong with that. Others want to hang on. There are some buyers out there who are fair and honest. We used one. We were lucky. There is also a lot of snake oil but it is up to each circumstance. Find out what yours is worth, then make a decision but don't listen to people who all they say is don't sell. (Sorry folks) I have a friend who hung on, now her well tanked and the company walked away in La Salle. That can happen too. Talk to a pro.
Further to the offer above, a different company has offered $31,500.00 for the same interest on 43 acres so something is going on. Any ideas?
what do you think is a fair offer and have you talked to anyone or is just by mail offer? They are always too low, IMO. I would talk to someone who wants it. I know a man in Austin who you can call who can tell you about it but he is not on this forum. He can tell you what they are doing and whether it is fair.
The person I know wants to know if you are pooled. What pool are you part of? The name? Do you have an API? He says he has never heard of the producer and there is very little shaking out there. I have an offer for you on selling, pure speculation, if you would like to hear it. I am not in the business and don't know enough about it but will hook you up with the man who I think is honest in this business. Our family sold to him and got a very good deal.