I inherited a small percentage of minerals in block C-11 covering 3500 acres spread throughout Apache's Alpine High (Go Bucks!) with a .25 royalty. Net acreage of my empire is 10.6 acres. I am not selling but did appreciate the recent offer of 3500.00/net acre I got this week. My Dad was a petroleum geologist so I know drilling is a crap shoot but I was wondering what a similar package of minerals in a successful shale play might be worth, also knowing it's hard to compare anything with the differing price for petroleum over time.
Great question. I have close to the same. Maybe we will get an answer to your question.
Depending on location, most of the mineral buying companies I have seen have a top number of $5000-12,500. Keep in mind leases are being sold for $20,000-47,000/acre. The buyers take a good deal of risk, but they are looking for big returns.
I wish I knew that when I leased my land to Apache. I signed a three year lease with a 2 year option for $800 per ac.
Can I opt out for a higher lease after the first 3 year period is up?