Estimating Value of DeSoto Mineral Rights Based On Purchase Offer

In 2008, my sister and I each inherited 10 acres of mineral rights from our father – S: 32, T: 12N, R: 14W (Spider Field).

Recently I received an offer to purchase my 10 acres for $97,500. My sister received the same offer for hers.

We also recently inherited another 10 acres each from our mother and are in the process of transferring ownership.

Given that a company is, in effect, offering $195,000 ($97,500 X 2) for these 20 acres, obviously they see it worth far more to make a profit. We are also receiving royalties from Comstock on a cross-unit well. 

Having said that:

1. What would be a fair estimate as to the true value of the property relevant to the offer we've received? Double? Triple? More? 

2. In May we received a Pre-Application Notice, and in June a Hearing Application to Comstock's intentions to drill 5 new cross unit wells, 4 of which extend into our property. Is there a common timeline as to when they'd start drilling relevant to these notices?

We don't intend to sell, by the way. Thanks in advance for any wisdom you can impart!

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Thanks again! I've been on Sonris a lot, but unsure of my level of knowledge.

To check for well permits you search "permitted wells by date/parish" correct?

Another couple of questions: (1) Where can I find the lease number for a particular well? (2) How did you access that plat showing specific owner tracts you attached yesterday?

I appreciate it! 

Lease numbers are assigned by an operator for their internal use.  The state doesn't use them so they are not on SONRIS.  To find the survey for a specific unit, you go to the Document part of SONRIS and click on Surveys.  You'll need the four digit field code and the unit designation.  Yes, to permitted wells by date/parish.  You can do that once a week by inputting the appropriate dates.  It takes maybe three minutes and will give you advance notice of new wells in the pipeline.  You can also click on the serial number in the SONRIS well file to view the actual permit to see if it is good for six months or twelve.

Thank you!

To your last sentence, so if a well has been permitted it has a serial number, I'm guessing.

You will see the serial number when the permit appears in your SONRIS search.

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