Mineral activity in mclain county, ok


#1

Howdy…just was contacted to purchase my mineral rights to a property I have inherited in McClain County (that I never knew until today was mine.)They are offering 7500 per acre. Sounds like there must be something there!

Can anyone tell me what to do next? How to find out value? How to decide if I should sell?
Thank you so much.
BeSS


#2

Im in a relatively similar situation. Where are your acres located?


#3

It is more helpful if you state the Section, Township and Range. Different parts of McClain are more valuable than others. Depending upon where your acreage is located, that might be low, reasonable or high. There is quite a bit of interest in western McClain county right now. Eastern side, not as much.

That being said, most first offers are generally low to actual future value. Everyone who makes an offer thinks that they will make a profit off of you.


#4

As Martha mentions, the value of your minerals is very dependent on the location so the offer could be low, middle of the road, or high for the specific area.

In terms of how to decide if you should sell, that is usually a personal decision based on your situation and financial goals. If you are willing to do some homework and basic education, it may be worthwhile to hold on to your minerals. If you have questions in this area I would suggest talking with your financial advisor and/or accountant to understand the implications of selling. Another thing to consider is if you would like the up-front cash now but would like to enjoy the potential up-side is you could always sell just a portion of your minerals. Just because a company makes an offer for 100% of your interest, you could always counter with a smaller percentage.

Just keep in mind that this is a business negotiation so pretty much anything is negotiable (similar to buying or selling a house).

Best Regards,
Matt Sands


#5

Hi, Matt
Thanks for the great tips.

bess rhoades


#6

My grandpa would say “tell them no, lease offers are always welcome”.