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Permalink Reply by Skip Peel - Mineral Consultant on June 15, 2016 at 3:24

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.

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Permalink Reply by dot holloway on June 15, 2016 at 4:15

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!

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Permalink Reply by Skip Peel - Mineral Consultant on June 15, 2016 at 4:24

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.

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