McClain County - Section 21 T7N R4W


#1

Interested in selling. Wondering what recent market offers have been?

Currently under lease with Newfield.


#2

Hi Marilyn - I think that area in general is a good one and Newfield is still actively drilling and permitting wells in that area. It looks like you already have a producing well, too. A lot of factors will determine the value of your minerals, the most important being your lease royalty and what clauses are included in your lease. Others may have more insight on market value but the true value of the reserves and future production may be much higher.


#3

Thanks Marcus!

I appreciate your reply.

I am learning from scratch about this! :thinking:


#4

That’s not an area for which I have any comfort for “going rates”. My general statement above was that sometimes going rates are reflective of the true value of the asset you’re holding. Take your time and hopefully some of us on here can help you.


#5

“aren’t” should be in place of “are” above. Sorry.


#6

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#7

Marilyn,
That area is getting pretty popular. If you don’t have to sell, consider hanging on. You already have one producing well and it’s location indicates possible future drilling. I am in that well and it has a long predicted life and good reserves. You have most likely gotten some offers to buy. I have and they are very low to actual value.
If you feel that you need to sell, then you need to understand what you have, what the value is and get several offers-and then maybe only sell part. If you have heirs, then it would be more to their advantage if you did not sell now as there is quite a tax hit to selling now. If they inherit, that tax hit can go down as the step up value would help them.