Offer to buy in Roger Mills

I’ve had an offer to buy my 10 acres at Sec17-13N-23w. I’m wondering what a good price would be? Can I negotiate w/the buyers? What should I look for? Thanks for any info/help Susan Coolen

There are a lot of factors that go into a good price. The primary one is whether there is production from a well from a lease on the premises. And you can definitely attempt to negotiate with buyers. Just like a car, a house, or anything else. They may not choose to negotiate with you.

Maybe I should have stated that it is not under lease and hasn’t been since 2011. No offers recently either.

Susan, there is a small well on that section that hasn’t produced anything significant since 2017, though it is still listed as an “active” well. It’s possible that you received the purchase offer because the buyer believes this well will be “reworked” at some point and begin producing again, or perhaps has knowledge that the current operator (Presidio Petroleum, LLC) has plans to rework the well. Presidio also operates wells that are currently producing significant amounts in adjacent sections.

Other than the above (which is certainly possible) I find it odd that anyone would want to buy these since there is currently no leasing activity in or adjacent to this section. That said, activity in general has picked up this year in Roger Mills County so perhaps they are just hoping to buy your minerals “on the cheap” and wait for this area to become more active.

YES, you can attempt to negotiate with anyone that offers to purchase, and the more knowledge you can bring to the table about oil and gas leasing/drilling activity or “comparable sales” in your area, the better your bargaining position will be. Some buyers, and especially those whose offers arrive unsolicited, will offer you a below market price at first.

Before accepting any unsolicited offer, I would suggest shopping around for a reputable company or website to help you market these mineral rights if in fact you want to sell them, preferably someone who does not make a practice of buying mineral rights from their clients (and thus can be objective when valuing them).

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