Hello, I’m selling my mineral rights located in Ellis county. I’ve had a few offers at $4,000. per acre - can anyone tell me if that’s a reasonable offer?
Can someone recommend a reputable OK attorney I can confer with about the sale?
Thanks so much…
Do you know the section, township and range?
Welcome to the forum. If you give the section, township and range, we may be able to give you more information about the activity near your acreage. In general, there is increasing horizontal activity in the Cherokee formation so lots of generic offers to buy are out there.
Many offers to buy come right before the bit because they “know something”. Those offers may be only for a discounted amount which represents the royalties for the currently producing wells for a certain number of years. They will not tell you about any pending activity as they plan to make a profit off any additional wells. The offers are usually tied to the net acreage and the royalty amount of your current lease or a 1/8th. If you have a 1/4 lease then the offer should be twice as high. So we cannot really comment on $4000 as it has no reference. They would much rather buy up large acreage than small acreage so might offer a bit more for a larger tract.
The parcels are:
Section 32 Township 17N Range 23W and a small parcel on: Section 2 Township 16N Range 24W
Thanks so much…
32-17N-23W- Mewbourne has a multiunit horizontal well planned for 20/29/32-17N-23W in the Cherokee. Jackrabbit… You should have gotten all of the OCC paperwork that has been sent out. They have left room for infill wells in the future. If you have not, then contact Mewbourne immediately.
Contact Raymond Winkeljohn
You need to think past just one well and the potential for more because that is how the buyers are thinking.
2-16N-24W Mewbourne just pooled this section for the Cherokee. They are planning a multiunit horizontal well with 2-16N-24W and 35-17N-24W.
Ns. Barnes, I did get that paperwork from Mewbourne.
Is it possible to consult with you over the phone? I will pay whatever consult fee you require. Thank you
I do not buy nor sell, so can’t really help you with that part.
Thanks for your help…
