A landman contacted us about some rights to this section that we did not know we owned before now. He's offering $6,000 per acre. My brothers want to sell and my sister and I are thinking about keeping them. I've done some research but I have a few questions:
1. What happens if I don't sell? Does the money owed just pile up somewhere until we agree on a lease with someone? I read about suspended funds but how does that work? I saw they are already drilling and believe it will be pooled since it's horizontal drilling.
2. I read that you want no deductions in a lease and think 3/16 is fair. Is that what I should look for? Can anyone recommend a company that they know has offered no deductions?
3. Anything else I should consider since I'm fairly ignorant about mineral rights?
Stephanie, friend me with the blue icon next to my name and I can walk you through it. I own acreage in that section and can tell you the steps. Hang on. You want a 1/4 if you can get it.
get a lawyer who specializes in this
Stephanie, you are in a very concerning situation and vulnerable to being taken advantage of. I strongly encourage you to contact M Barnes immediately.
I just sent him a friend request. I know I need help. Thank you.
Martha is a good person, I am sure that she will be able to answer all your questions.
I also own multiple deeds in 13N 7W and am in need of some guidance. Thanks!
Friend me and I will try to help. That area is getting quite popular.
HRDY 1-11MH
There's already a well in this section. Are you sure you weren't pooled? It's possible you're in some sort of curative state if Marathon missed you, but that's a rare circumstance. Assuming you have the right to lease M Barnes is a great resource and you need to listen to her.
$6,000/acre is not enough to sell FYI. Should be considerably higher even if it's at a 1/8 royalty.
Martha told me it's already been pooled several times. I believe we were "missed" some how. Thank you for the information. I know very little about this.
As Huey stated, there was a well completed in July 2016. You should have been contacted by Payrock/Marathon. Should be an area where they will eventually develop multiple benches of the Woodford and Meramec. Woodford is rather oily and wells look pretty decent.
3/16th’s is rather common, but I’ve seen royalties increasing to 1/5 and occasionally 1/4. Are you referring to leasing them at 3/16’s? As $6000 seems like a pretty low ball offer to sell minerals at…if you want to chat, feel free to message me.
Are we talking selling or leasing? We’re getting similar offers 3 sections east for leasing. They do include 22 & 25% for of course less $ upfront.
Get a lawyer that deals in mineral rights. You get what you pay for.
Does anyone know a Stephenie Boyle?
Hi folks... newbie here...just received unsolicited offer to purchase my mineral rights in this same section. Contacted my brother who sold his over a year ago (he, I and sis inherited) and I am just starting to research area and options. Willingly accept opinions/advice/comments but please recognize I reserve right to make up my own mind and hope you will accept that. Thanks much....