Mineral Interest in Blaine Co

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?

If someone wants what you have, it's because they know it's worth more than they're offering. Continue to do your research and don't be in a hurry to sell.

Good luck,


Thank you!

The tax consequences can be a burden.

Good point Tom - thanks!

Update to earlier post

The mineral company sent us a letter to sign agreeing to sell 35% of our interests at $7,000 per acre on 3/16th royalty, or $4,667 per acre on 1/8th royalty then they would send their Landman to the courthouse to verify the amount of acreage. We asked for them to add a clause that allows us to void the signed document based on the final determination of actual acreage/royalty. Apparently they didn't like that as the conversation has stopped. Probably for the best.

Does anyone know the potential for 29-16N-11W?

Thanks in advance