Offer to Buy
We have some small interest in 2 EOG wells in San Augustine Co. We have received an offer to purchase our royalty interests from Montego Minerals in Midland, TX. The offer seems to be for the sum total of what we have received in royalty payments up to this point. Has anyone else heard of this company.
We understand that there is only one well per unit on these two locations and there is potential for 2 more wells per unit. But we don't know what EOG's plans are for the future.
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Replies to This Discussion
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Permalink Reply by Skip Peel - Mineral Consultant on -
The flaw would be judging the value of a mineral interest based upon a single well, especially one drilled 4 or so years ago, as opposed to the reserves remaining in the unit.
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Permalink Reply by Joe Aldridge on -
JWD,
Be careful who you listen to on the internet. That being said: Unless I had DIRE financial problems I would not consider selling my mineral rights. Also, if you are in Texas; my understanding is they will be gone forever unless you put a prescription in the sale. Just be very careful what decision you make. These offers that come in the mail are usually for pennies on the dollar. If you take a sale seriously then get an independent appraisal before you do anything.
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