Hi All, My mother owns a percentage in Reagan county. She received in the mail an offer to buy minerals. Is this the going rate? I see a lot of horizontals drilled surrounding this property.
Thank you.
Be cautious about offers like this. They often come right before drilling is about to commence and are usually a generic low price just to see who will bite.
What Block and abstract is she in? I see quite a few permits for horizontal wells near her if she is where I think she is. If she has no need to sell, then hold off for a while. Buyers want to make a profit off of her purchases. She might want the royalties and the ability to pass on to her heirs.
You would need to ask them how many Net Royalty Acres that they believe she owns and that would help you determine their $ per acre offer. Tabor is a great company to work with but they do believe they will make a profit from this offer so be mindful of that.