Hello: I'm new here and excited to receive some input.
I have a buyer after my 5.333 acres in Section 36, Township 1 North, Range 22ECM
It has been drilled and plagued with salt water. They just recently got that problem solved and are about to move forward with production soon I think.
I also have 5.333 on Section's 24 and 25. 25 is still producing gas at a slow rate in my book, but have little knowledge of this type thing. Sometimes I get a check for $150 for two months, or like $190 for a month. Section 24 has nothing of interest to my knowing.
All are leased at 3/16th of production.
I told the man. $1,700 per acre on 36, $650 per acre on 25, and $300 per acre on 24.
All or none is the deal. He agreed.
My concern is, am I selling it short? I have heard that even non-producers sell for 3x's the value of a lease. They were all leased at $250 and acre.
So to me,.... I'm not working the pencil correctly and could stand to loose out big time.
Section 36 by rumor has a boatload of oil under it. Any info would be much appreciated.
I'm getting old and health is failing, but do have a son to pass on too.
I realize you can't make choices for me. But I would love to get educated somewhat on this.
Thanks again, and so glad I found this site.
AZ Boy that does not savvy OK oil and gas..... Sincerely, Steve