I am new to this, having inherited mineral rights. I am very uniformed. Any help will be greatly appreciated.
We have an offer from Penterra Services (Sooner Trend Minerals) for 32 acres (1/8th royalty acres) for purchase at $12,000 per acre. This is for section 34, 15N, 10W.
I don't know if this is a good deal.
I don't know how to research the market in this area.
I don't know anything about selling.
Please "Friend " me and I can help
Cimarex Energy has a well in Sections 27 and 34 15N 10W (1280 acre spacing). The Gross Net for production for May, June, July, and August was about $2.7 million. Don't have any idea of how long production will continue at this level.
Thanks, Tim. I did "Friend" you.
Thanks, Tom. I did not know this.
How do I find out about drilling in a certain area?
And, I assume from your post that since there is production in this area, the desire to purchase is strong; and once production dwindles, the offers to purchase will also dwindle. Is this what you're saying? Again, I am a total newbie to this and have no clue how the oil industry works.
DON'T SELL UNLESS YOU HAVE TO BECAUSE YOU NEED TO BUY A NEW HEART OR SOMETHING OF THE KIND.
What about helping the TV preacher... or to get more Christmas presents for my grandkids... or to support my favorite politician... or to take my dream vacation?? Only kidding!!
Of course we are striving to be wise. We have never considered selling until now. A couple of factors have caused us to consider: 1.) My elderly aunt owns these and she is going backwards financially; 2.) She owns many other mineral properties; 3.) I don't know the market, don't understand this business, and I am seeking input, primarily on when/if the market might be temporarily "hot" and it would be a consideration to sell before it would indefinitely cool down. Any input is appreciated. Thanks for your exhortation to not sell!
Dear Mr Buckley, you are in a good spot. Did you inherit the interest through the estate of J Robert Debbs of Plymouth, Massachusetts? This interest has been pooled by Cimarex but not drilled yet. You have horizontal wells on each of the eight adjacent sections.
No, we did not inherit from J Robert Debbs.