Selling minerals in Coahoma, Texas (Howard County) Does anyone know a fair price? I'm new to this site, have an offer pending

I’m new to this site and have minerals in Howard county. The only description I have is NW/4 of Sec 2 Blk 31 T1S …West half of Sec 2 Blk 31 Township 1 South ??? We’ve leased and it has had 1 well drilled in last couple years. The lease supposedly ended last year but we’ve had no more offers to re-lease. Not sure we can ??
I think well is shut in. We receive ( small) Encana royalty checks maybe every 4 mos. or we never know. I’ve been offered $3200.00 per acre to Sell my interests. Not sure what to do. If well isn’t producing & we can’t lease again, it’s just sitting there. The offer is kind of in the works, but haven’t signed anything yet. I’m clueless on the company wanting to buy except they’re mentioning something about an Option agreement ??? I have no idea what I should be asking for per acre. I’ve seen a few ppl on here like Clint Liles ?? And others that help out…I’d appreciate Any information…thank you kindly.

Cathy,

Deleted by system

Thank you for your response. We’ve had offers to sell frequently & it’s hard to know what to do. This offer was from a company out of west virginia. My brother and I have agreed to sell our interests together having combined 88 acres. I kind of knew where our interests are located there’s not much going on there. Just wondering if $3200 seemed reasonable. I will talk to this Co. Again and tell them I won’t sign an option agreement & see what they say. Thank you again. I will definitely get back with you as soon as I cam…

Cathy,

After checking production on some of the wells around the area of your minerals I believe you can do better than
$3,200 per acre. All the wells in the area of your minerals are vertical wells and most of them were drilled and completed in the years 1999 and 2000. Those wells are producing fairly well to be that old. I feel that you should be able to get 3 times what you and your brother have been offered for your minerals. JUST MY OPINION.....Negotiate and see if you can't do better than $3,200 per acre.

Another thing to think about.......sell half of your minerals and keep some. Some day there will be horizontal wells drilled in this area.

GIS Map of Howard County Section 2/Block 31T1S and surrounding area:


CLICK ON MAP TO ENLARGE

Clint Liles

Thank you very much, Clint !!! I appreciate your input and it helps make me feel a little better and not so panicked or pressured. It’s tempting to want to sell at the 1st couple of offers, but not knowing anymore than I do makes it confusing. May I ask you another question ?? If we are intent on selling, (even if just half) should we just wait and see if there are other offers that come in or should we list it somewhere to see who is interested ??? Again, thank you !!

Be patient. If you are not in a bind and are not desperate for money I would wait and I'm sure others will make offers. To the west about 10 miles in and around the area of Big Springs, Texas there are some very good horizontal wells drilled into the same formations that are in the area of your minerals. BE PATIENT....... at the top of this page your minerals can be listed for sale at MKT PLACE.

Clint Liles

You have been a Great help, Clint !!! I’m so glad I joined this group …can’t Thank you enough !!!

Clint is a good advisor. Has helped a lot with information on some of our minerals. we have land leased west of you... east.. south east of Big Spring. Hoping they drill it.

Yes…he surely is. Thank you !!!

Sounds fishy with an option agreement.

Who is the company?

@Gil

Found out this company doesn’t BUY minerals per say. They take an asking price from owners and present this price to other companies. Thankfully, I got a lot of suggestions from this Howard County site. I’m no longer dealing with them.

Thank you for your response.

Thankfully we saved you from a nightmare.

Lots of scams out there.

Yes Sir…I am trying to educate myself as much as I can now…and this site has a lot of informative people who have helped me tremendously. I am Grateful…