McClain County, OK 33 10N 4W


#1

My family owns over 600 acres in this township. We got an offer for $300/acre for the mineral rights. I don’t know much about how this works, but this seems extremely low.

Thanks in advance for your help.

Robbie


#2

Robbie,

Thank is extremely low. Minerals in the area have varied from $2,000-3,500 per acre depending on the location.


#3

I figured we were being low-balled. Not sure where to go from here. I’m not sure what mineral rights in the area are worth…how do you find out?

Thank you, Andrew for replying.

Robbie


#4

$3500 in 10N 4W?

No permits, no HZ production, all conventional wells…I must be missing something as I don’t see where that value would come form. If you could, can you let me know where those transactions are (section)?


#5

Jeffrey, The information I have is 33 10N 4W…I’m a newbie, is there different information needed?

Robbie


#6

Simon, that is very low. I am in 10N-4W-35 and just got a leasing offer for $2250 3/16 $1750 1/5 $500 1/4. Don’t even think about selling that low. EOG is moving into the area.


#7

Sorry, I’m new at this, but what is EOG?


#8

EOG is an Oil and Gas company.


#9

EOG or Enron Oil and Gas

http://www.eogresources.com/


#10

Robby: That offer looks very low to purchase the minerals. It might be completely different if this was a lease bonus. If you have 600 acres you have a considerable ability to dictate the terms of any lease and should seek the assistance of an attorney.


#11

In S33 you are much better off, look across the border to 10N5W, there is activity. If you wre in the opposite corner of the township, then I would be more concerned until activity moved that direction.