Offer to Buy Royalties
Just got an offer to sell half my mineral royalties on land in Red River Parish (10.9 acres). Section 22, Twn 13N, Rng 9W. Encana has drilled in Section 15 into the HS already (Adcock well), and someone (Encana I assume) is drilling in Section 16 right now. I also believe another well has been permitted in another corner of Section 15. Sounds like they might be drilling all sections out in this area of the parish.
Offer was $24,500 for 9.375% of royalties. Lease has been in effect since 2004 (yep, that part sucks as does the 3/16 royalty, but that was fairly standard back in that time frame).
Any others getting offers to sell portions of their royalties?
Not planning on selling mine, certainly not with an offer this low....
Offer was $24,500 for 9.375% of royalties. Lease has been in effect since 2004 (yep, that part sucks as does the 3/16 royalty, but that was fairly standard back in that time frame).
Any others getting offers to sell portions of their royalties?
Not planning on selling mine, certainly not with an offer this low....
Views: 84
Replies to This Discussion
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Permalink Reply by Snake Stewart on
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Me too Harley ! Oh yea , I ain't no stenkin lanman! HA! HA!
Thats funny , I don't care who you are !
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Permalink Reply by Margaret Wren on
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Does the company have to send out a notice if they go in an existing well and drill deeper? I should know this answer but don't.
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Permalink Reply by Margaret Wren on
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The last offer I had to sell my mineral rights was from Permian Basin Acquisition Co. they offered 120 times the monthly average of the prior three months royalty payments,in May 2008. I have 4 acres of rights, no land, at 25% royalties in Bossier Parish that was a huge offer in my opinion as it would have brought me very close to $240,000.00, now that is alot of money for 4 acres and I think, if it is worth that much to them then it is worth much more to me so I did not sell. My personal opinion is never sell your mineral rights even if you sell your land.
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Permalink Reply by BirdDawg, plain ole' idiot on
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I'm sorry, but unless I misunderstood something, I think Mr. McConnell was giving Mark good advise.
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Permalink Reply by Margaret Wren on
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I don't think Mr McConnell is trying to get business, the poster requested information about selling their rights and Mr McConnell simply gave them an answer. As much free advice he has given this group whether we like the answer or not, should be the main focus. Just trying to be fair here!!!!
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