Stephens County Section 4-3S-4W… does anyone know what activity, if any, is happening around this area? Been in the family for many years and we’ve been leasing, but now getting offers. Would any of you smart people here sell and how do I know its a fair offer? Thanks!
Lot of variables here and impossible to give any kind of answer unless you divulge pertinent information. Are your minerals currently producing, if so, how much are they making a month? Whats the offer to buy? If your minerals arent producing, have you leased them and what was the bonus?
Apologies for that… nothing produced to date. The purchase offer is $35k. Leases have been 3 year terms with a bonus of $4300 for the term.
You are probably getting offers because Continental just drilled a batch of horizontal wells at a NW/SE angle just to the east of you in 3/2/10/11. The next logical place is 4/5/8/9. The Gentry wells were just completed in Dec/Jan so not public yet. Buyers are trying to get acreage before folks realize what is going on. 12 permits for the Gentry.
There have been 122 leases in section 4 in the last 24 months, most of them by Continental.
157 leases in sec 5 in the last 24 months, most of them by Continental.
168 leases in sec 9 in the last 24 months, most of them by Continental.
172 leases in sec 8 in the last 24 months, most of them by Continental.
See the pattern! Are you interested in the possibility of new horizontal wells? If so, then do not sell or ask for a whole lot more than what they offered.
Thank you so much for this information! Would you be willing to tell me what a whole lot more is to you? ha Are we talking double? Triple? I’m feeling very responsible as my niece and nephew will be the recipients.