I have been approached with an offer to buy mineral rights on a large tract of land in Columbia County, Sections 21 and 22... How can I find out if there is any activity in this area and if it is a good idea to sell...
norma, in order to get an idea of activity in Columbia and surrounding counties and parishes join these two GHS groups and read through the Group discussions.
Thanks. I will join these groups and see what I can learn.
Norma who is trying to buy your minerals? If it is Cobra you need to throw the deal in the trash. Some folks that buy minerals are legitimate but others are just plain crooks. You will need to contact an oil and gas attorney before signing anything. You will also need to add the Township and Range before anyone on here will have a clue as to where this property is located because there are a bunch of Sections 21 & 22 in Columbia County.
It is a landman that is buying for "someone else" he says... He didn't search me out to buy, but we were having a conversation about mineral rights, and his dad told him we had them, so he says several companies that he buys for will just buy them up and hope later something good happens... The land is Township 15S - Range 20W, 360 acres in Sections 21 and 22.
Great advice, as always Two Dogs, Pirate!!!
Thanks Mr Aubrey. As you can see I hate Cobra and their likes.
I would not sell my mineral rights unless my kids were hungry and that is the only resource I had to buy food. Southwestern has leases dated September 16, 2013, for mineral interests in Sections 33,34, and 36, Township 19 South Ranges 20, 23. There were some other descriptions but I cannot find the sheet of paper on which I wrote them. Additionally if you own the surface, the only way you can protect that surface is owning some mineral rights.
People from Louisiana like to buy Arkansas minerals because they constitute a separate estate and do not expire by the passage of time, as long as you pay your taxes. Speaking as one who owns mineral rights in Columbia County, I heartily endorse the sentiments expressed by Polly Ann Foote. If the purchaser is offering $20,000 per acre, well, maybe yes. If it is offering $200 per acre, well, certainly no. Each person's situation is different, and there are good reasons to sell mineral rights if the price is right and your situation recommends it, but it is generally the better rule to sit tight and hold them.
He offered $200 per acre and came up to $300... I didn't know if that was even close to being a reasonable offer... My only thinking was I have 1 son who just turned 50, no children... I have 1 sister, who has children and grands, but for my son to realize anything from it I would need to sell pretty soon... And of course, our retirement fund is slowly going away, when it should have been good til we died...
Are they asking to "buy" your minerals or to "lease" them?
Thanks... That's what I need to know... Do u know it there is any leasing being done near there?