Would anyone be able to steer me in the right direction…looking to understand the fair market value of a mineral right in this area. Not looking to sell, looking to settle up with extended family members. Thanks in advance!
That is a hard question to answer. You would need a date timeframe. There are producing wells on the section. Jolee 1H-5 was drilled back in 2017. Anything before that time frame might have an answer based upon vertical wells and their royalties. Anything after that date would have horizontal well and its royalties to consider. A better description for the acres involved would indicate which vertical well and at what spacing. And then after the 2017 horizontal well, the decimal interest would change due to the spacing change.
If there is an estate involved, that is another issue to consider.
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