I received an offer of $500 per acre for a 41-75 acre tract, and a 61.3 acre tract in which I own the mineral rights in Houston County, TX. That seems low to me. Both parcels are located about 3-1/2 miles west of the town of Grapeland. I believe these are adjacent to the Dailey-Pridgen Field with Hibbard Energy as the operator/producer. What would be an acceptable offer price per acre for these two interests?
Be specific as to whether this is a lease offer or a purchase offer. A Block name, abstract name and number and section number will help narrow down the location. Knowing the activity in the area is important. Buyers usually have a reason for making an offer.
In what survey(s) are your minerals located? 3.5 miles west of Grapeland is in the lease area established by Expand, formerly known as Chesapeake. They have drilled what appears to be a successful deep gas well about 10 miles west of Grapeland. What is the name of the entity that is offering you the lease? What is the royalty offer? Royalty is much more important than bonus.