I inherited 2 acres of mineral rights in Section 6, Township 8N, Range 10W. I have received an offer of $650 per acre. This area does have 2 operating wells. However, as I will be 79 years old this year, I am seriously thinking about selling these. (I do have other rights in Section 2 that I am keeping). I only receive $50-$100 per year from this. Should I sell at $650 or ask for more?
If I were thinking of selling and received an unsolicited offer, I would find out about activity and would generally ask for more than what was offered.
There is a horizontal permit two miles from you, so someone might know something which prompted the offer. Active lease, an OCC case and a permit in section 3.
What formation is targeted in wells in this area? Anyone know of any activity in Township 5N, Range 9W or Township 5N, Range 10W? Thanks.
What sections in 5N-9W and 5N-10W? Quite a few formations have wells in them. The most recent permits in those two townships are in the Bartlesville, Caney, Chester, Marchand, Mississippian, Niles, Springer, Woodford, Yule. More activity in 5N-9W than 10W
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