I own 82.5 mineral acres in the Daniel McClean Survey and 16.75 acres in the J. Cutler Survey in Houston County, Texas. At my age, I have decided to sell these rights. I have had an offer of $1,000 per mineral acre for both of these sites. Is this a good price or should I hold out for more?
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I would give it a week or two and see if any other offers come your way. It is not always the best idea to take the first offer you receive.
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Having just sold my mineral rights, I would suggest using a broker so you know you are getting the best price. Went through more than one offer that backed out in the end. Using a broker, they can reach a larger pool of interested buyers and many offers you get in the mail or just not that solid. Good luck.
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What abstracts are you in? Have you checked for pending activity before selling?
Ditto on the brokerage or auction site.
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Most royalty owners NEVER sell their minerals. Too many times something good happens and they are far better off getting royalties. If you were contacted by the purchaser first, then the purchaser knows that something good is about to happen and they want to get in front of it. Be patient.
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I believe they are in abstracts 56 and 260. How do I go about checking for activity? Thanks for your advice.
There have been no new leases written in either of those surveys since 2011. However, both of them are close (just south) of the lease area established by Expand. As an example, the G Greenwood A-37 and J LaRiviera A-49 surveys are located just to the north of the D McLean A-56 Survey. Expand has leased several thousand acres in each of those surveys. In addition, Expand has drilled a horizontal well, the Bobby Yancey 2H, that is located in the Greenwood Survey.
Your tracts’ proximity to the Expand leasing area is the reason why you have received a purchase offer. It is quite possible that future leasing may extend southward into the McLean Survey. You may want to wait to see what happens in the next year or so.
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Thank you for this information. I think, with all the advice I have received from people who know more than I do, that I will follow your advice and wait I appreciate all of the responses I am getting,
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