I own some mineral rights at 02-12N-15W that I recently leased. The same landman just offered to purchase my rights.
Is there any play in the area that I need to be aware of. I am considering selling 1/4 of my acres to cover some immediate needs but I think the offer might be lowball @ $3000 per acre.
Thank you.
Someone knows something… Given the large amount of leases in that township and the pattern of leases, it looks like a stealth lease play for horizontal wells in the next few years. The offer is probably low compared to the potential for the payout on the horizontal wells. You can sell part and split your risk for the timing and productivity of the future wells. Ask for a higher amount and see how much they budge.
MACH, Mewbourne and Validus have permits or are drilling just to the north and west.
Thank you very much! Any idea of what a reasonable amount I should ask for?
Ask the landman what is the highest amount that he will be offering for that lease royalty and then ask for 25% more to see if he will take it up the chain. The operator will probably make three to four times the acreage offer on the new wells.
I was offered $7,200ac in 19W Custer County
Wow thank you! I just got a letter in the mail from another landman who is interested in purchasing. I’m going to take a bit of time to gather some more offers before I sell.