5 months agoI was offered 1,500 an acre for mineral rights in La Salle county with 1/5th royalty, for 3 years plus 2. I do not own the land. Immediately after the letter, the company pulled the offer off the table. No dscussion, no negotiating, no counter offers. We have never been offered 1/4th of a million dollars, then told oops, not interested. Someone said that the company researches these offers to death, knows what is there, otherwise the company would not have offered top price to begin with. How are prices determined and what is going on? It was a landman representing himself for Chesapeake. He now said that Chesapeake is interested in east Texas only. Any comments will be appreciated.
Update: I found out today that the property is: La Salle county Abstract A 331 lot 4, survey , # 5. ( ??) It is part of a 641 acre parcel. I think that is how the r.r. co surveyed back then. We have a 160 acres more or less but do not own the land. Can someone tell me how to find out where that is on a map? We inherited the mineral rights and did not know we owned them unitil the landman for Chesapeake wrote that letter back in July. I have had quite a few offers through this forum. People want to buy the mineral rights and said if the property is south, I am probably in a donut hole and it is not worth much. Of course they would buy it tomorrow for $1,500 per acre (they say) but one said I could get a lot more. Should I consider that and what would be a good price?