my wife inherited ,15 years ago,mineral rites in oklahoma. got a letter from lawyers that drilling that area may be soon. now getting offers to sell. wait for serious drillers or sellnow as they are going 10000 feet for gas.
Unless you need that money bad I wouldn’t sell. You can receive a nice monthly income from a gas well. They will need a lease on the land as well as the gas. It is also tough to buy any land with mineral rights. I’d strongly recommend keeping the rights. Think about which company or utility would need the gas and approach them directly and try to negotiate a deal with a nice lease for the land. You should have more negotiation wiggle room with the mineral rights.
August 3rd, 2009 at 7:09 am
Unless you need that money bad I wouldn’t sell. You can receive a nice monthly income from a gas well. They will need a lease on the land as well as the gas. It is also tough to buy any land with mineral rights. I’d strongly recommend keeping the rights. Think about which company or utility would need the gas and approach them directly and try to negotiate a deal with a nice lease for the land. You should have more negotiation wiggle room with the mineral rights.
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August 3rd, 2009 at 7:25 am
Hold to the mineral rights, theoffer will keep on incresing.
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August 3rd, 2009 at 7:39 am
All of the good stuff has been drilled in Oklahoma. I don’t know the details of your situation but you won’t get any serious advice on this website. You need to talk with someone who really knows the exact location you are talking about.
I do know that who ever drills on your wife’s property will be the one making any sales deals for the gas and there will be no extra leases for surface rights. Those will be included in any lease agreement related to mineral rights. You will probably only be getting a 1/8 royalty on any gas sales. That is a pretty common royalty.
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Look at my nick name.