I have just received a laughable offer from the Permian Basin Acquisition Fund for my proven productive mineral acres in McKenzie county ND. Permian is offering a whopping $2300 per acre, subject to their approval of your lease and title. Permian even offers to pay you by draft, and we all know what a great deal drafts are. I think I will have to pass on this generous offer as I think I could negotiate a lease for $2,000 per acre in McKenzie county, the wells already there will eventually pay me that much and more, and if they ever drill the infil wells it will pay me far more. I have gotten such offers from Bridgeport and Dale Resources in the past. I wonder if anyone else is receiving such great offers from Permian?
Mr. Kennedy:
I have recieved offers from both Bridgeport and Dale several times in the past but never Permian. These companies are hoping to get lucky and find that unknowing individual who is suprised by that amount of money per acre on something they probably inherited. The plot thickens if they happen to be in dire need for instant cash. As for me, my shredder just gets another workout. It would be interesting how many acres these companies have obtained via this mail out.
I have a file full of these letters on various minerals. In my opinion they are always very low offers. So I’ve never responded to one and don’t intend to. Yet I do keep them as they may provide a purpose. These are bona fide offers to purchase, and therefore could provide a market valuation for my estate (if needed). I’m not recommending this to anyone else but I hold onto them for this purpose.
I have received more offers from Dale in the past month and another today from Aegis Energy Partners, LLC.
rw:
As you said in your earlier post, these companies are looking for some individuals who inherited minerals or is in a bind for some quick cash. I believe over the years that these companies have probably acquired some decent mineral acreages at a steal and the game still goes on. If you pull the handle on the slot machine 500 times, the odds are you hit some decent payoffs. This mailout is inexpensive if only one or two take the bait. By the way, I'm on my second shredder.
Charles, I have decided to see what their offer is. Curiosity may be getting the better of me finally. They never mention actual numbers in the letters they send me. Worst case, I could probably use some scratch paper/barbeque starter. Waste not, want not.
rw:
That should be a fun game to play just to see what these guys are willing to give.
RW,
Did you play the game and get an offer?
Today, my husband got the "Dear Mineral Owner" standard offer to purchase minerals letter, from Aegis Energy Partners; but what amused me is, they only posted the offer on 1 of 6 sections that he has minerals in. I'm sure its their ploy, and they'd jump all over the others, if he showed interest in selling.
Snues:
I've had the same happen to me whereas the offer is for only a part of the minerals that I own in an area. This has alot to do with the location of the minerals and the proximity to the the current drilling. I'm sure they would consider the remaining minerals if the price is low enough. As I stated earlier, these companies are looking for that one individual who possesses minerals but has no knowledge of anything except picking up some quick cash. In the past, I have recieved from Dale Resources, Bridgeport Energy and Aegis Energy. All found the same file in my office.
Snues said:
RW,
Did you play the game and get an offer?
Today, my husband got the "Dear Mineral Owner" standard offer to purchase minerals letter, from Aegis Energy Partners; but what amused me is, they only posted the offer on 1 of 6 sections that he has minerals in. I'm sure its their ploy, and they'd jump all over the others, if he showed interest in selling.
I did respond to them Snues but they never got back to me. Now listen carefully, these companies may send a contract that says that you are selling all of your mineral interests wherever situate, it may give a legal description in one section but there may be words which if the unwary overlook them, they just sold everything they had. If someone made such a mistake they could probably correct it in court because there was no meeting of the minds but maybe not, and the amount these companies generally offer per acre would melt like a snowball in hell against your legal fees, if you took them to court. So I urge everyone to be very careful what you sign. Even a lease contract that you can't afford to enforce holds no protections, the operator can do as they please.
Snues said:
RW,
Did you play the game and get an offer?
Today, my husband got the "Dear Mineral Owner" standard offer to purchase minerals letter, from Aegis Energy Partners; but what amused me is, they only posted the offer on 1 of 6 sections that he has minerals in. I'm sure its their ploy, and they'd jump all over the others, if he showed interest in selling.
RW and Charles,
Good information and interesting to learn, hopefully others will be careful if they choose to respond to those letters. I wonder why they didn't get back to you after you sent for inquiry.
We'll have to check with other family members to see if they received the same letter we got today.
We have no desire to sell any part of the minerals, so we'll be filing the letter in the same folder that Charles uses. I think it's dubbed file 13.
I wonder what percent of people they find willing to sell. They probably wish those letters would have been sent out about 10 years ago, before the Bakken Shale became headline news.
Snues, that file sure gets a workout, doesn't it ? I wish they would send such offers on recycled paper so they wouldn't be wasting a perfectly good tree.
Snues said:
RW and Charles,
Good information and interesting to learn, hopefully others will be careful if they choose to respond to those letters. I wonder why they didn't get back to you after you sent for inquiry.
We'll have to check with other family members to see if they received the same letter we got today.
We have no desire to sell any part of the minerals, so we'll be filing the letter in the same folder that Charles uses. I think it's dubbed file 13.
I wonder what percent of people they find willing to sell. They probably wish those letters would have been sent out about 10 years ago, before the Bakken Shale became headline news.
What are some general lease terms for Howard County, Texas? Royalty and lease bonus. Thanks