My family has received an offer to buy their mineral rights in 4,5,9,16,17, 20 and 21 in 16N - 23W. The last years royalties on these mineral rights were approximately $1,000. The offer they have is around $110,000 for 30 net mineral acres. The offer seems way over market unless someone is planning on new production in that area. Is there a website to find newly permitted wells in that area or maybe some other information an out of state mineral only owner would not know about? I’ve looked through a bunch of previous posts and the couple of links that I followed did not work anymore. I would mainly like to see what kind of production is currently in the area and if anything new has been permitted. Thanks for any help!
You are smart to ask the WHY?
There is a new Cherokee horizontal shale play in that area. You have new permits in 4/9/16 and 16/21/28. The buyer would love to buy that out from under you before you realize that one well was spud in August and is about to be finished and the other well was spud in October.
If your name and address are properly filed in the Ellis County courthouse with a description of your acreage, you should have received massive mailings about the new wells from the OCC.
They have positioned those new wells to allow for future infill wells, so keep that in mind. Personally, I wouldn’t sell if I have royalties pending in a few months.
The northern well is Rockies Resources Holdings Helen 0416 1CH. The southern well is Rockies Woodrow 1628 1CH.
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