Very inexperienced living in Arkansas
We (3 family members) have mineral rights in 29-16N-11W, either 1/8 royalty of 20 acres or 3/16 of 13.333- still reviewing. We have an offer to sale (will only consider a portion) which would be approximately $ 50,000 for 50% for each of the three members.
Decisions would be much easier if we had an idea of the potential production, I understand a deep well was to be drilled now but has been delayed until the fall.
Does anyone know of the activity in this area and if the offer is a decent one?