I have mineral rights for a portion of land in Custer County, Oklahoma. This land does have a recent oil lease on it. I have an offer to purchase the mineral rights on this land. Before doing so, any additional information on the Anadarko Oil Basin in Custer County such as projections, average cost received for a purchase, etc. would be appreciated. Thank you-
Custer County is very active with horizontal drilling. Buyers generally try to buy up acreage that they think will be drilled soon. Usually their offers are low just to see who will bite. Offers will vary across the county, so giving a township and range would be more helpful in getting an answer. If you have no great need to sell, then sit back and wait to see what happens.
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Remember, sale of minerals can trigger capital gains tax liability. Be sure to take that into account.
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