I have rights in Custer Co, OK. (24-12n-15w). I tracked sales in a few mile radius around them back in 2018, hoping to sell but never pulled the trigger. Started paying attention again about six months ago and it seems like prices have gone up just in the last month. I’ve seen a couple of sales of rights that sold in 2018 that are dramatically better and prior to this most looked lower than 2018. Also recently got a letter from Mayhawk. It’s one of those “paying up to…” so I don’t take it all that seriously. Still, it seems like something has changed. Does anyone out there know of anything happening in Custer? Thanks so much.
I think it’s more or less just commodity prices are supporting the idea that development may expand. Hang in there! Was it a decent offer?
It said “up to $8000.” That could mean anything but $8000 seems high. If that were a firm offer I’d take it and run. Offers we were getting in 2018 were $3000. My sense is Mayhawk tends to buy for quick resale so they must have some interest in the area if they’re sending out fishing letters like this. I’ll message them and see what kind of real offer they come up with and let you know what they say. I have some more research to do to figure out the price per mineral acre of the recent sales nearby. Some are just a couple of sections away even though they’re in another township.
Is 24-12N-15W producing or non-producing? Have you received any other offers (leasing or purchase)?
We have some in both 24 and 13. 13 are non-producing and not leased. 24 are producing and checks have improved a little recently. It’s been producing since the 80s. Just over 26 NMA in each section we’re looking to move. No other offers yet but I haven’t replied to the Mayhawk one to see how real it is and I have another reply to an email of mine I need to send documentation to before I get their offer. We’re honestly just interested in selling, not leasing. The recent sales are all in township 13n, we’re on the edge of 12n so one of those is an adjacent section and most are 4-6 sections to the northeast. Tarpon Jumper and Titanium Energy were involved in more than one sale each. Mayhawk hasn’t made any purchases in the area recently. I just checked the last two months but that’s when it seemed to pick up. Need to re-up my okcountyrecords so I can look at the deeds.
This topic was automatically closed after 90 days. New replies are no longer allowed.