Hi, my family has a very lowball offer to over 100 acres of mineral rights in Grady County Section 22 T3N and R6W. In an effort to negotiate, I was wondering what others are selling low producing mineral rights for.
Becky, the more appropriate question is what price per acre is being paid in 3n-6w. Low producing mineral rights are not interchangeable. What someone may pay in Coal county wouldn’t translate to a comparable price in Grady county in this township. If you feel it is really low, then don’t sell.
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Geologically speaking, 22-3N-6W sits on the west side of a large old shallow field. No wells have been drilled in it so far. There is a new play developing on the west side of that field in the Woodford. Your section would be in the deep gas zone and therefore not as valuable as sections farther to the east which have condensate or oil. “Lowball” is relative. In general, lease prices this past year have been lower due to competition or lack thereof. You can sell all if you get a price that you like, you can hold onto all, or can do partial sales and partial hold.
Out of curiosity, how much is the offer, per acre?
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