Likelihood of future drilling

I have mineral rights to approximately 52.66 acres in ellis county oklahoma 22n 26w section 27.they are located in the east half of the northwest quarter.there is two wells that have been capped and abandoned and two active wells that I expect to also be abandoned in the very near future due to low it likely there will be future drilling as this section has already supported four wells.I have received a couple of offers to purchase these mineral rights.

When I get offers, I ask myself, “what do they know that I don’t know?” Most buyers do not make offers unless they plan to make a profit. In that area, it will depend upon the economic health of Mewbourne Oil Company at the moment. They have had quite a few cases at the OCC for increased density in sections 20, 21, 26, 29. So I would think the buyers know that and hope for increased density in your section someday.

Given the drop in crude prices last week, offers may be taken off the table or folks might be buying the low. Our family generally hangs on when times get rough and wait it out. Other families may have a different strategy.

This topic was automatically closed after 90 days. New replies are no longer allowed.