Best offer was 8500-10k per acre this seems fair to good side any opinions or input if i should sell or hold on? Im in no rush but i am very curious and am entertaining the idea of selling to maybe use money towards an investment property i will be purchasing soon and will be renovating. I Have heard Continental resources might be adding another horizontal well but it was just rumored and haven’t seen anything on there site yet about it. anyone’s input would greatly be appreciated thanks!
If you are going to buy an investment property with the funds, make sure you do a 1031 exchange. You won’t have to pay taxes on the income if it all goes into a new investment.
I would not assume anything these days. I just evaluated a property for a family that was offered 8K per acre(to sell, not lease) but the minerals were worth closer to $18K per acre, and the oil company darn well knew it. Not sure if the mineral owner ended up selling, but at least they were better informed before making that decision.
Thanks for response I’ve been terribly busy but thanks for information seems like all offers I have have been low around 3300-4000 per acre