I got a call from somebody that said they were representing XTO and Blackstone. Offered a pretty penny for my mineral acres.
Congratulations. Without a location and offer amount, it is difficult to make a comment.
Man, I keep forgetting to do that.
$7500 a mineral acres. A. Spear A-43, San Augustine County
I'm assuming that you have a quarter royalty. A. Spear is a good survey and $7500 per net mineral acre is a decent offer. The question is one of how many additional wells will your unit(s) accommodate and how soon will new wells be drilled. Of course XTO and Blackstone would have inside information on those issues. We would be interested to know the company making the offer.
I didn't think to ask. The only name I got from him was Blackstone and XTO.
I suggest that when you get a solicitation by phone that you ask for the offer in writing. That helps you do your own due diligence and avoids any misunderstandings.
I told him I had no intention of selling them. I think they can put quite a few more wells out there on the Keydets unit.
I don't blame you. There's several more planned now, Mister Sunday. I'll try to get my list updated for you.
Thanks, jffree1! What does the B1 mean?
The first Bossier shale well in the Keydets Drilling Unit.
I thought that was a different depth and required a different agreement.