We were contacted saying we were heirs to 12.5 acres of mineral interests in 4-16N-05W. The offer is $4k per acre. We really do not know what to do with this. Is this a good offer, do we need to research the mineral deed/title? We were told there is a producing well but we do not see anything on the land. Any advice??
In my opinion, cold call offers are rarely in the mineral owner’s favor. I suspect that the offer is coming a from company that want to buy up your royalties in hopes of future wells being drilled. There is a lot of that going on right now. Quite a few increased density cases nearby, so that usually leads to massive offers. They usually know something the mineral owner doesn’t know. They certainly intend to make a quick profit. I would rather have that profit, so I hold onto mine!
You do have room for some more wells. I save the offers for reference, but do not answer them. Usually, they go up over time if there is planned drilling. First offers are usually low.
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