Hello...we received an offer of 6,250 an acre for our 1/4 section, 160 acres. 1 wanted to have input if this may be a good offer for the area?
$6,250.00 and 1/4th
Leased or unleased? If leased, what royalty? Even at an 1/8 that's too cheap for that area.
I would hold out. Highmark wants to drill a well in your section which means more offers are likely to follow. If you do decide to sell, I would sell a small portion of what you own and hold onto the rest for the upside. I wouldn't be surprised if you see a $10,000+/acre once Highmark starts/completes their well.
do you own all of the 160?
I think the determination of whether to sell depends more on your life, etc. Would you rather have the money all at once than over time, etc. do you want to pass it down to your kids? Do you want the money or do you need the money?
If you own all of the 160, and you pass up $1,000,000, are you going to kick yourself down the line? It would be pretty hard to pass that up, regardless of your life's situation.