Flush with mineral purchase offers - are they worth the paper they are written on?
strange to get 3 different offers to sale, in the last 10 - 20 days; same well
Stan Saba, Cobra and the Operator of our well; all had a deed and 2 had a site draft; the oil Operator actually offered to add the money to our last and final royalty check if we would sign the deed (how convenient for them)
all looked clean and much improved from others we have seen over the years
low of $7500 per acre and high of $12,000; I sorta figured by hand, if the well hits, the offers would give them about a 4 year payback if prices stay good;
new well drilling buy the Operator and not selling, but nice to get a good, honest offer for a change
thank you
dino
Views: 1384
Replies to This Discussion
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Permalink Reply by kittycatmama on -
Dino, LOCATION LOCATION is very important in real estate and in minerals. What Township and Range are you in???
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Permalink Reply by john goodday on
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Would you name the parish & operator / township / range ?
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Permalink Reply by Max on
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With offers like that, a person would have to think hard about the "cash in hand" verses "Maybe" cash later if well is drilled/produced/long payout.
I hear and read "don't sale" from most folks, but when you're really selling something that doesn't exist, until a great deal of expense has been expended by someone else, that's as close to a "pie in the sky" as you can get.
A well already producing has a value established. Not having a unit/well proposed for land under lease has little value. How many times have have you (anybody) been leased and the lease expires with no well? I've seen this happen more often than leasing and getting a producing well.
In my view, selling a part of your minerals in a small track may not require much thought, a few thousand dollars really doesn't make a big difference in your life. A larger track is different, $$$K for something that doesn't exist today and may never exist is hard to walk away from...
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