Just got a call from a friend across town (Ruston) said she was offered $4000 for her lot. Not sure who the co. was but we were offered a little over $200 for our lot. Is this right and why is her offer so much higher?
dot, that doesn't sound like a lease offer, it sounds like an offer to purchase the mineral rights. The size of "the lot" and it's specific location in town can also have a lot to do with the variance in the amount offered for a lease or an outright purchase. It is hard to add anything beyond that without knowing the party making the offer, a more specific location than "in town" and whether it is indeed an offer to lease or an offer to purchase.
I do believe it was an offer to purchase the mineral rights. A friend told her to hold out for more, if possible. Being a widow and in poor health, she is considering selling but I would hate for her to lose out in the long run. Tried to get to talk to a lawyer but she won't even consider it, so guess I'm no help to her at all. Ha!
Development of minerals inside the city limits of Ruston is questionable at this time. Once Range Resources begins actively forming drilling units and permitting wells we may get a clearer indication of their development plans. MRD was attempting to prove up areas immediately east of town and south into Jackson Parish. If your friend's "lot" is a small acreage, as most are, then the question becomes one of how much does she need the $4K now? I hate to see anyone sell at the bottom of the market but then again other areas are seeing no offers and $4K maybe relatively generous at this point in time depending on the size of that lot.