I inherited some royalties in section 22 & 27 township 18N Range 13W about 12 years ago. Over the last few years I have received unsolicited offers but recently have received several. Does anyone know if there is anything is going on that would help me make a decision. Also what is a fair price for the section?
Welcome to the forum!
Derby has pending horizontal wells in those two sections, hence the rush to buy your minerals before you figure out you more royalties coming. When I get unsolicited offers, it means that someone knows something I don’t know and they are pretty sure they are going to make a profit off of me. When several offers come, my radar is up even more. You are talking about a completely different scale of revenue from the old vertical wells and you may have multiple horizontals down the road. And perhaps multiple zones, so that is what they want to buy.
One well is already permitted. Another is pending.
I won’t comment on price because every offer I have had was worth turning down. If you have a major medical condition or another really good reason to sell, the ask for more than they are offering and never hand over a deed without getting paid.
Thanks for the info. I figured the offers were in there best interest, but it would be nice to know what I should be looking for in an offer so there is some baseline.