I am still getting offers to buy my mineral acres for $ 2500.00 per acre even though it is still leased. Any thoughts on this from anyone?
Mr. Akins:
I think most of us (mineral owners) recieve this same type of letter in regards to selling our minerals and it makes no difference if the minerals are currently under lease. I am personally not an advocate of selling minerals as if or when the area is drilled, the amount of money over the long term could be much greater than the amount being offered. First, you must analyze your personal situation. Are you in need for cash as each of us have different circumstances in our financial situations. I think that if you are pondering the sell of your minerals, take some time and do some research on what is currently happening in your mineral area. There are possibly several zones that look good as a result of seismic testing in your area thus individuals or companies see that buying these minerals would be a very good investment for the future. Again, this is a decision that you have to make as you know your situation better than anyone. Just take your time and understand what you are doing.
Loyd the companies that are trying to buy these minerals want the area to be under lease preferably 3/16 or better. The area you are located in has been active lately and as long as oil can stay above $80 to $90 you will see drilling in the area. There is a nice producing well in section 29 next to you the Dana 1-29H. The over all plan is for them to drill the original well in your section and come back over the years and drill additional wells to drain the section of product. My opinion is that $2500 per acrea is cheap. I had offers to buy our interest up in 32-8N-6W bur i am happy i did not sell even though we have a nice producing well but not a gusher. I think that they will drill additional wells in my section but it might be 5 to 10 years away.
Thanks for the information. I wan't thinking about selling, just wanted to know if others were getting the same offer. I have a brother-in-law who was thinking about selling if the offer got around $3000.00 to, 3500.00 a acre.
Richard Pruitt said:
Loyd the companies that are trying to buy these minerals want the area to be under lease preferably 3/16 or better. The area you are located in has been active lately and as long as oil can stay above $80 to $90 you will see drilling in the area. There is a nice producing well in section 29 next to you the Dana 1-29H. The over all plan is for them to drill the original well in your section and come back over the years and drill additional wells to drain the section of product. My opinion is that $2500 per acrea is cheap. I had offers to buy our interest up in 32-8N-6W bur i am happy i did not sell even though we have a nice producing well but not a gusher. I think that they will drill additional wells in my section but it might be 5 to 10 years away.
Any interest in section1 by oil companies?--reeves county I have no offers at all.
Shanthi Fernando