My siblings and I have received offers for purchasing our mineral rights from Dry Creek Energy for $7K/ acre. 08N 07W Sec 11 Grady Co. We know Continental received approval to drill a multi unit well in part of this section. However, wanted some feedback from the knowledgeable group in this forum on suggestions if this is legit and a reasonable offer. I’ve seen discussions similar to this in the forum that the first offer is never the best offer. However, wanted to know if the offer seems reasonable and how much negotiation is possible IF we decide to sell. Thanks all!
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Time is on you side. If you want to sell, I would push back and tell the would be Buyer to make their best offer now. Do not tell them what you want since $7K has already gotten your attention. Tell them you are entertaining other offers and will not share those amounts.
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You are most likely getting offers because Continental is active in the area and there is extensive leasing on either side of you. You have an older horizontal well in your section 11/14, but there is room for quite a few infill wells. Your current well has a long time left on it.
As James said, time is on your side.
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Thanks for your feedback, appreciate it! Time will tell if more wells be drilled, slow the past few years but appears to be more activity recently.
Nobody talks about it, do the math on the mineral offer vs your allocated values in the new wells.
New offer from the same company for 14-6-6 at $11,250.. Have there been any recent filings relevant here?