We (other family members), each own mineral rights in T156N R97W Sec 19 (1/6 interest), T156N R98W Sec 97 (3/16), and in T156N R98 Sec 24 (1/6).
We recently received 3 offers to sell our mineral rights after Hess took out permits for 5 additional wells on the Section 19 property. We negotiated for all our mineral rights for $6,750/acre. All three parcels have one well and produce approx. 1,000 brls/month each. Does the offer sound reasonable? There’s also rumors that 5 more wells will be drilled on one of the other properties, but it’s just a rumor at this time.
I’m a little skeptical about selling but the other family members are in a rush to sell (each of us are acting individually).
There are a couple more items that concern me.
The offer agreement states closing shall take place before 60 business days from our signing. They say as of now nothing would be closed and paid until 2019. Both the other offers 1-3 weeks closing. Then, when I said for tax purposes I’d sell 50% in 2018 and the remainder in 2019 (Purchase Sale Agreement) they seemed confused. Later said it could be done. Also, very reluctant to send notarized deed.
Thanks for reading my rambling, hopefully it’s get some helpful answers.