Hello all. Wondering if anyone here who have interests in Garvin County, specifically the John Kent or Samedan area has received calls from someone repping a “large fund” who are actively snapping up acreage in the area? I received an offer for a fairly sizeable amount for my 20 acres in the John Kent section yesterday. Wondering what is going on. They must know something I don’t and wondering how to counter this, or just hold on and not sell. But the amount it fairly high when weighed against my current monthly royalty payments. Any insight appreciated for an admitted newbie here (I just inherited these leases from my late mom).
Please give the section, township and range so that we can look up the activity. They certainly do know something you don’t know. Compare against future activity not current income.
Sure. Sorry. This is the description the prospective buyer included in his most recent email: Garvin Co., OK - Sec. 16-2N-2W. I spoke with my rep at Rimrock who hold the lease on my acreage there and she said she had handled 15 or so transfers very recently in that area. Someone knows something for sure (and right now, that person is NOT me). thanks!
Casillas (now Validus) and McLinn were actively leasing in the township in the last three years. Casillas (bought by Validus), Switchgrass and Validus have filed quite a few OCC cases along the corridor of secs 8, 17, 20, 29 & 32. When increased density and new horizontals are filed, the buyers start offering.
Your current well has about half of its life left as far as volume. It was placed on the far east side of the section so that infill wells could be drilled someday. You are currently held by production for many more years. You can sell all, sell none or sell part. A sale could trigger capital gains. You can sit back and wait to see when/if the infill will happen. You can take what you have already made on your well and see what 3-4X more of those would look like compared to the current offer. Buyers intend to make a profit on the acreage they buy.