Just received an offer to purchase my rights for $4,500 per nma and 3/16 royalty.
Tells me some drilling activity might be imminent. Anyone know anything?
Thanks for any and all input.
I would venture that the increased density that was just approved for sections 18 & 19 1N-4W might have something to do with offers to buy surrounding acreage. Quite a bit of leasing in Sec 6 & 7 during 2017 and 2018. I do not see any current OCC cases for 6 & 7, but time will tell.
Have had multiple offers with the highest being $10,000/acre in adjacent acreage. 1/5 lease so marginally better than a 3/16.
Recent offers in 2N/4W $21,000/nma for 3/16, $28,000/nma for 1/4
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Whoa. Michael, we was offering those prices?