We have a offer to sell our mineral rights. Dewey county Oklahoma!! Section 10 township 18n range 20w!! Would like any info , on a fair price per acre!
Whatever is offered, be assured that they are worth more.
Join the Dewey county, OK Forum on this website and ask your question there.
Ms. Pat Malone,
How do you know the minerals are worth more than the unknown offer? Are you willing to pay more? People were offering $70,000+ per net mineral acre in the Haynesville to buy, were they worth more? I was offered a very substantial some to sell a royalty interest in the Eagle Ford Shale 2 years ago exactly when oil was at $95/BBL. Were they worth more? I didn't think so, so I sold my interest to a mineral buyer. I would imagine that they are worth half what I sold them for, now.
I think your advice is kind of ignorant. I'm not saying that people should sell to anyone that makes them an offer, but I am saying that they should approach any decision with an open mind and do their due diligence. It's not always a bad decision to sell minerals, and people do make fair offers.
I agree 100%.
Maybe I was a bit too hasty with my 2nd paragraph response. I was thinking she could start her due diligence by getting feedback from others in her area.
Maybe I needed to advise her not to focus on price alone. The lease bonus and royalty percentage are not the only two things that matter. If she also owns the surface rights, her surface usage may be more important than the lease bonus and royalty percentage, and she can negotiate surface damages separately.
Maybe I should have directed her to a statement on a mineral owners website ...
'The landman broker is any broker that approaches you directly at your door. The landman broker is NEVER looking out for you. They have one goal, and that's to pay you the absolute least they can for your property. They will usually have the best sales pitch, assure you that you're getting the absolute best for your property, and then put a time limit on how quickly you need to accept the offer. Working with this type of mineral rights broker is a sure way to get the least value for your property. Nearly all of these door to door brokers will offer you a fraction of what your mineral rights are worth, then quickly turn around and flip your property to buyers who are actually paying market value. Do not get scammed."
Maybe I should have reminded her that after exhausting her due diligence to remember that ... everything is negotiable!
Maybe I should have reminded her that negotiating O&G leases requires knowledge, patience, and a balanced mindset.
If she was asking for help with leasing, maybe that would all be good advice, but she was talking about an offer to purchase her interest.
I personally know nothing about the going sale rates in Dewey County as I primarily deal with Texas. I apologize for derailing your thread, Emily, but hopefully someone with more knowledge will step in and help you out.
I would never advise someone to never sell, as there are certainly companies out there offering fair market value and it will be up to you to decide whether or not a bird in the hand is worth two in the bush.
I was trying to cover all bases.
Have not made any decisions at this time!! To sell !! Thanks for the reply !!