Received an offer to buy mineral rights from Community Minerals for approximately $5,000 per acre. Is that the going price range?
Please include your section, township and range as there are many section "35"s. Also the price per acre is tied to the royalty, so a 1/8th royalty will get a lower offer than a 1/4th royalty.
In the above post, my mineral interests are in Section 35 Township 10 North, Range 7 West and my royalty is 1/8. Thanks
Mr. Zimmerman: It appears to me your interest was leased to Stumps Brothers on 3/16ths. Jones Energy drilled 2 wells for units that your section is a part. Neither of these wells are more than decent wells. Before you decide to do anything, make sure you are getting paid revenue for those 2 wells. As for the going price range, that is not really anything that can be measured. Every mineral owner has a different time value of money, some will sell low, some will sell high, some won’t sell at any price. With the condition the industry is in today, nobody knows what the future development of your section will be. If you decide to sell, make sure you exchange the executed mineral deed for a certified check or wire transfer. Never hand over an executed mineral deed for an obligation to pay, ie bank draft. Good Luck
Thanks. Todd_ M_Baker.
Be careful!!! there are many out there trying to buy up minerals at bargain prices now. Not sure where you are at, but two years ago a $20,000 per acre price was normal in Grady. Now - well - I am holding on and waiting. Those 2k to 5k offers keep arriving everyday but I plan to pass minerals on to Grand kids… Then I also have heard that those offers will not hold up and they want to buy for half. It must be working lots of purchase letters being received…
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