Recently received a purchase offer on 3 parcels of mineral rights in Williams County net 317 mineral acres located in 157N 96W Sections plus 157N 95W
We have leases with XTO and Hess who both have low producing wells in all three sections
Offer is for $3000 per mineral acre
- Is this a fair offer ?
- Is there some additional drilling or new geology that is causing the demand for these already leased acres of mineral rights?
I cannot commend on “fair” since in my experience most first offers are low.
The sections are important. Some sections only have one well holding them. Other sections have 10 wells due to the infill drilling, so buyers are probably looking for both present royalties and future royalties. If you post your sections, I can tell you if you have infill drilling near you.
157N 96W Sec17
157N 96W Sec12
157N 95W Sec7
157N 96W Sec17 -has one horizontal well with sec 20
157N 96W Sec12 -has one horizontal well with sec 1
157N 95W Sec 7-has one horizontal well with sec 6 .
XTO has new permits for five more wells in section 9. Those permits may be driving the offers.
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