I have recently received several phone calls from entities wishing to purchase my interests in Section 27. The last is from Rosemary Minerals. Has anyone heard of this company? They offered $7000 per acre at 3/16 interest. I really have not considered selling but I am curious about whether this might be a fairly good offer. Any opinions would be appreciated!
For all the information & speculation going on in the area, probably low. Time will tell whether the minerals in this section are worth that or not. To put that offer in perspective, the unit will have to produce close to 500,000 barrels of oil selling for $50 per barrel to pay back $7000/ac.
Thank you for your thoughts! I think the best thing to do right now is sit tight and wait it out.
You are right to just hold on. According to my records these units have been active since the early 1907s and possibly even in the sixties. In good times and bad times the units are strong enough to keep a very sizable production going. They are now going into these areas to see what they can produce with horizontal drilling. Many of the acres are held by very old wealthy families. Sell your house but don’t sell this.
Thanks for your information Val. Our family has held these mineral rights since my Grandfather actually drilled some wells there, probably in the 40s but possibly even in the 30s. Now there are many heirs and none of us have a substantial decimal interest, but still there is enough to be worth something if they ever drill again. Wait and see!
Teresa,
Do you have contact info for Rosemary?
Yes, I do have. It is Robin Huebner, phone number 405-820-6543. Sorry I took so long to reply - just missed the message in my email.
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