My sister, brother and I inherited a full section (I think) of mineral rights in Laramie Wyoming. We have been approached by a company interested in buying those rights.
Should we consider selling them or should we lease them?
How do we determine what a lease or sale would be worth?
Would it be wise to involve an attorney?
Are there appraisers for mineral rights?
We need some help here.
Paul
Leasing is probably much wiser than selling. As for what they are worth, I copied this from a prior post:
"For everyone’s information here are the Wyoming Lease sale results. One thing I found interesting is that only one company - Big Bear Oil and Gas - paid large amounts for leases and none of the better known large companies won a bid if they did bid so I do not see any great interest from them at this lease sale. The first numbers are the amount paid per acre and you can see 80% of them went for under 50.00/acre with only a few bringing over 1000.00/acre in certain areas. The second set of numbers is the total due so if they bid on 50 acres the column would read 1000 50000 and so on.
Parcel Number Lessee Bid (In Dollars) Total Due (In Dollars) Lease Number County Township Range Section Section Quadrents Acres 1 Marshall and Winston Inc. 835 535141.8 10-00255 LARAMIE T12N R60W 16 All 640 2 Mammoth Oil Co. 210 135564.04 10-00256 LARAMIE T13N R60W 19 E2:E2W2:Lots1-4 642 3 Mammoth Oil Co. 250 160741.8 10-00257 LARAMIE T13N R60W 21 All 640 4 Mammoth Oil Co. 250 30159.4 10-00258 LARAMIE T13N R60W 30 W2SE:SESE 120 5 Mammoth Oil Co. 250 130607.34 10-00259 LARAMIE T13N R60W 30 NE:E2W2:Lots1-4:NESE 519.46 6 Mammoth Oil Co. 360 100777.47 10-00260 LARAMIE T13N R60W 31 E2W2:Lots1,2,4 278.88 7 Bold Resources LLC 275 44204.2 10-00261 LARAMIE T15N R60W 8 SE 160 8 Bold Resources LLC 325 104383.4 10-00262 LARAMIE T15N R60W 9 W2 320 9 Land Rights Services LLC 330 9649.71 10-00263 LARAMIE T15N R60W 17 NE:E2NW:PtW2NW 289.25 10 Mammoth Oil Co. 220 141541.8 10-00264 LARAMIE T18N R60W 16 All 640 11 Springfield Oil Co. 100 16102.98 10-00265 GOSHEN T19N R60W 6 Lots3,4,5:SENW 158.17 12 Mammoth Oil Co. 245 157541.8 10-00266 GOSHEN T19N R60W 16 All 640 13 Springfield Oil Co. 125 39500.52 10-00267 GOSHEN T19N R60W 31 E2NE:PtW2NE:E2NW:Lots1,2 312.66 14 James Roberts 60 7359.4 10-00268 GOSHEN T20N R60W 3 NWSW:S2SW 120 15 Retamco Operating Inc. 51 6279.4 10-00269 GOSHEN T20N R60W 4 S2SW:SESE 120 16 Yates Petroleum Co. 30 4941.85 10-00270 GOSHEN T21N R60W 7 E2NW:Lots1-2 157.09 17 Walter A. Ohmart Jr. 100 64741.8 10-00271 GOSHEN T21N R60W 16 All 640 18 Joint Resources Co. 55 1839.51 10-00272 GOSHEN T21N R60W 30 NE:E2NW:Lots1-2 320.93 19 Land Rights Services LLC 51 8364.2 10-00273 GOSHEN T21N R60W 31 SE 160 20 Land Rights Services LLC 45 7404.2 10-00274 GOSHEN T21N R60W 32 SW 160 21 Retamco Operating Inc. 30 19941.8 10-00275 GOSHEN T23N R60W 16 All 640 22 Joint Resources Co. 44 3634.57 10-00276 GOSHEN T23N R60W 30 Lot 79.75 23 Joint Resources Co. 35 5804.2 10-00277 GOSHEN T23N R60W 31 E2W2 160 24 Retamco Operating Inc. 32 1349.8 10-00278 GOSHEN T24N R60W 8 NWNW 40 25 Retamco Operating Inc. 29 19301.8 10-00279 GOSHEN T24N R60W 16 All 640 26 Retamco Operating Inc. 57 37221.8 10-00280 GOSHEN T26N R60W 16 All 640 27 Contex Energy Co. 45 5559.4 10-00281 GOSHEN T26N R60W 21 S2SE:SESW 120 28 Contex Energy Co. 50 18428.2 10-00282 GOSHEN T26N R60W 28 NWNE:W2 360 29 Contex Energy Co. 40 26341.8 10-00283 GOSHEN T27N R60W 16 ALL 640 30 Big Bear Oil & Gas 1200 97315.64 10-00284 LARAMIE T14N R61W 4 Lots3-4 80.36 31 Big Bear Oil & Gas 1100 687123.8 10-00285 LARAMIE T14N R61W 18 E2:E2W2:Lots1-4 623.37 32 Joint Resources Co. 600 96204.2 10-00286 LARAMIE T15N R61W 14 NW 160 33 Diamond Resources Co. 240 38604.2 10-00287 LARAMIE T16N R61W 8 SW 160 34 Hoover & Stacy Inc 220 18599 10-00288 GOSHEN T19N R61W 6 Lots2,3 83.36 35 Mammoth Oil Co. 220 141541.8 10-00289 GOSHEN T19N R61W 16 All 640 36 Springfield Oil Co. 110 35583.4 10-00290 GOSHEN T19N R61W 17 E2 320 37 Mammoth Oil Co. 210 13330.5 10-00291 GOSHEN T19N R61W 19 E2:E2W2:Lots1-4 629.18 38 Mammoth Oil Co. 210 135141.8 10-00292 GOSHEN T19N R61W 20 All 640 39 Mammoth Oil Co. 210 135141.8 10-00293 GOSHEN T19N R61W 21 All 640 40 Springfield Oil Co. 170 27404.2 10-00294 GOSHEN T19N R61W 28 N2N2 160 41 Mammoth Oil Co. 210 132186.07 10-00295 GOSHEN T19N R61W 30 E2:E2W2:Lots1-4 625.6 42 Springfield Oil Co. 180 21759.4 10-00296 GOSHEN T19N R61W 31 N2NE:NENW 120 43 Mammoth Oil Co. 210 135141.8 10-00297 GOSHEN T19N R61W 32 All 640 44 Mammoth Oil Co. 210 135141.8 10-00298 GOSHEN T19N R61W 33 All 640 45 James Roberts 205 334.2 10-00299 GOSHEN T19N R61W 34 S2S2 160 46 Mammoth Oil Co. 210 135141.8 10-00300 GOSHEN T19N R61W 36 All 640 47 Mammoth Oil Co. 210 132397.22 10-00301 GOSHEN T20N R61W 16 All 626.82 48 Mammoth Oil Co. 210 876.35 10-00302 GOSHEN T20N R61W 30 W2NE:E2W2:Lots1-4:NWSE 411.26 49 Mammoth Oil Co. 210 52805 10-00303 GOSHEN T20N R61W 31 S2S2NENE:S2NE:SE 250 50 Mammoth Oil Co. 210 31693 10-00304 GOSHEN T20N R61W 32 SWNW:PtSENW:N2SW 150 51 QEP Energy Co. 150 96741.8 10-00305 GOSHEN T20N R61W 36 All 640 52 Joint Resources Co. 80 134.2 10-00306 GOSHEN T21N R61W 12 NE 160 53 Mammoth Oil Co. 550 352741.8 10-00307 GOSHEN T21N R61W 36 All 640 54 Joint Resources Co. 210 126697 10-00308 GOSHEN T23N R61W 36 All 600 55 Joint Resources Co. 30896.29 10-00309 GOSHEN T24N R61W 1 Lot1 27.4 56 Joint Resources Co. 31 7733.8 10-00310 GOSHEN T24N R61W 16 S2N2:N2SE 240 57 Retamco Operating Inc. 29 1273 10-00311 GOSHEN T25N R61W 15 S2NE:SENW:SW:N2SE:SESE 400 58 Retamco Operating Inc. 29 19301.8 10-00312 GOSHEN T25N R61W 16 All 640 59 Retamco Operating Inc. 29 9663.4 10-00313 GOSHEN T25N R61W 18 E2 320 60 Retamco Operating Inc. 31 918.6 10-00314 GOSHEN T25N R61W 22 NE:N2NW:SESW 280 61 Retamco Operating Inc. 30 8738.6 10-00315 GOSHEN T25N R61W 22 N2SW:SWSWSE 280 62 Retamco Operating Inc. 33 1389.8 10-00316 GOSHEN T25N R61W 25 NWSW 40 63 Retamco Operating Inc. 29 1897 10-00317 GOSHEN T25N R61W 26 N2:SW:N2SE:SESE 600 64 Retamco Operating Inc. 31 918.6 10-00318 GOSHEN T25N R61W 27 NE:N2NW:SENW 280 65 Joint Resources Co. 40 6604.2 10-00319 GOSHEN T25N R61W 31 SE 160 66 Joint Resources Co. 35 5804.12 10-00320 GOSHEN T25N R61W 31 E2NW:Lots1,2 159.33 67 Joint Resources Co. 35 1469.8 10-00321 GOSHEN T25N R61W 32 NESW 40 68 Joint Resources Co. 35 5804.2 10-00322 GOSHEN T25N R61W 33 SE 160 69 Joint Resources Co. 35 5804.2 10-00323 GOSHEN T25N R61W 34 SE 160 70 Joint Resources Co. 35 23141.8 10-00324 GOSHEN T25N R61W 36 All 640 71 Contex Energy Co. 27 1821.8 10-00325 GOSHEN T26N R61W 16 All 640 72 Contex Energy Co. 28 18661.8 10-00326 GOSHEN T27N R61W 36 All 640 73 Contex Energy Co. 18 12261.8 10-00327 GOSHEN T28N R61W 16 All 640 74 Contex Energy Co. 10 7141.8 10-00328 GOSHEN T28N R61W 36 All 640 75 Big Bear Oil & Gas 1050 504562.6 10-00329 LARAMIE T14N R62W 28 N2:N2S2 480 76 Springfield Oil Co. 105 25493.8 10-00330 GOSHEN T19N R62W 22 S2NW:SW 240 77 QEP Energy Co. 185 59583.4 10-00331 GOSHEN T20N R62W 15 N2 320 78 Hoover & Stacy Inc 240 28959.4 10-00332 GOSHEN T20N R62W 25 N2NE:SENE 120 79 Hoover & Stacy Inc 240 28959.4 10-00333 GOSHEN T20N R62W 25 N2NW:SWNW 120 80 Hoover & Stacy Inc 240 19314.6 10-00334 GOSHEN T20N R62W 26 N2NE 80 81 Hoover & Stacy Inc 235 9469.8 10-00335 GOSHEN T20N R62W 26 SENE 40 82 Mammoth Oil Co. 250 160741.8 10-00336 GOSHEN T20N R62W 36 All 640 83 Big Bear Oil & Gas 850 479205.45 10-00337 GOSHEN T21N R62W 2 S2N2:Lots3,4:S2 562.12 84 Big Bear Oil & Gas 1250 200204.3 10-00338 GOSHEN T21N R62W 6 Lots2-5 159.41 85 Big Bear Oil & Gas 850 544741.8 10-00339 GOSHEN T21N R62W 16 All 640 86 Big Bear Oil & Gas 900 216293.8 10-00340 GOSHEN T21N R62W 17 NE:S2SE 240 87 Diamond Resources Co. 320 89938.6 10-00341 GOSHEN T21N R62W 21 S2NE:SENW:SE 280 88 Withdrawn 0 0 0 GOSHEN T22N R62W 26 W2NE:NW 240 89 Big Bear Oil & Gas 2300 276159.4 10-00342 GOSHEN T22N R62W 31 NESW:N2SE 120 90 Big Bear Oil & Gas 3200 1008377.71 10-00343 GOSHEN T22N R62W 31 Lots1-4:SENW:SESW:S2SE 314.25 91 Big Bear Oil & Gas 2250 270159.4 10-00344 GOSHEN T22N R62W 32 S2SW:SWSE 120 92 Big Bear Oil & Gas 2650 214765.63 10-00345 GOSHEN T23N R62W 2 Lot1:SENE 80.26 93 Big Bear Oil & Gas 1800 1152741.8 10-00346 GOSHEN T23N R62W 16 All 640 94 Cody Oil and Gas Corporation 1100 409641.54 10-00347 GOSHEN T24N R62W 4 Lots1-4:S2NE:SE 371.2 95 Cody Oil and Gas Corporation 520 166783.4 10-00348 GOSHEN T24N R62W 10 N2 320 96 Cody Oil and Gas Corporation 550 88204.2 10-00349 GOSHEN T24N R62W 10 SW 160 97 Cody Oil and Gas Corporation 290 93183.4 10-00350 GOSHEN T24N R62W 11 SWNE:NW:N2SE:SESE 320 98 Big Bear Oil & Gas 600 384741.8 10-00351 GOSHEN T24N R62W 16 All 640 99 Big Bear Oil & Gas 600 48114.6 10-00352 GOSHEN T24N R62W 35 E2SE 80 100 Retamco Operating Inc. 31 1365.72 10-00353 GOSHEN T25N R62W 21 NW:NESW:PtNWSW:PtSESW:SE 406 101 Retamco Operating Inc. 29 8458.6 10-00354 GOSHEN T25N R62W 22 NWNE:S2NE:SE 280 102 Retamco Operating Inc. 30 54.2 10-00355 GOSHEN T25N R62W 23 SW 160 103 Withdrawn 0 0 0 GOSHEN T25N R62W 34 SE 160 104 Retamco Operating Inc. 29 4844.2 10-00356 GOSHEN T25N R62W 35 NW 160 105 Joint Resources Co. 80 51941.8 10-00357 GOSHEN T25N R62W 36 All 640 106 Contex Energy Co. 30 2514.6 10-00358 GOSHEN T27N R62W 7 E2SE 80 107 Contex Energy Co. 30 13717.8 10-00359 GOSHEN T27N R62W 8 SWNE:E2NW:S2 440 108 Contex Energy Co. 56 36581.8 10-00360 GOSHEN T27N R62W 36 All 640 109 Contex Energy Co. 30 1269.8 10-00361 GOSHEN T28N R62W 102 (formerly SESW Sec 29) 40 110 Contex Energy Co. 32 1349.8 10-00362 GOSHEN T28N R62W 112 (formerly SENE Sec 32) 40 111 St. Mary Land and Exploration Co. 550 88204.2 10-00363 LARAMIE T15N R63W 36 NE 160 112 Marshall and Winston Inc. 550 352741.8 10-00364 LARAMIE T16N R63W 16 All 640 113 David V.B. Olds 490 78604.2 10-00365 LARAMIE T16N R63W 20 NE 160 114 Fairways Exploration and Production LLC 350 56204.2 10-00366 LARAMIE T17N R63W 8 NWNE:E2NW:NWSW 160 115 Mammoth Oil Co. 400 192562.6 10-00367 LARAMIE T17N R63W 12 E2:E2W2 480 116 Mammoth Oil Co. 400 64204.2 10-00368 LARAMIE T17N R63W 12 W2W2 160 117 Mammoth Oil Co. 400 128383.4 10-00369 LARAMIE T17N R63W 14 W2 320 118 Marshall and Winston Inc. 485 311141.8 10-00370 LARAMIE T17N R63W 16 All 640 119 Springfield Oil Co. 90 29183.4 10-00371 LARAMIE T17N R63W 26 E2 320 120 Springfield Oil Co. 90 14604.2 10-00372 LARAMIE T17N R63W 32 NE 160 121 Fairways Exploration and Production LLC 215 138341.8 10-00373 LARAMIE T17N R63W 36 All 640 122 Hoover & Stacy Inc 205 8269.71 10-00374 LARAMIE T18N R63W 1 Lot4 39.23 123 Hoover & Stacy Inc 1000 80114.6 10-00375 LARAMIE T18N R63W 7 E2SE 80 124 Hoover & Stacy Inc 1001 80194.6 10-00376 LARAMIE T18N R63W 8 SWNE:SESE 80 125 CLS Group 350 56204.2 10-00377 LARAMIE T18N R63W 12 E2E2 160 126 CLS Group 550 352741.8 10-00378 LARAMIE T18N R63W 16 All 640 127 CLS Group 600 144293.8 10-00379 LARAMIE T18N R63W 17 S2NE:NW 240 128 Hoover & Stacy Inc 340 13669.8 10-00380 LARAMIE T18N R63W 25 SWSW 40 129 Joint Resources Co. 575 230473 10-00381 LARAMIE T18N R63W 32 S2NE:NWNW:NESW:S2SW:SE 400 130 Joint Resources Co. 600 72159.4 10-00382 LARAMIE T18N R63W 32 S2NW:NWSW 120 131 Mammoth Oil Co. 600 384741.8 10-00383 LARAMIE T18N R63W 36 All 640 132 Big Bear Oil & Gas 900 285679.94 10-00384 GOSHEN T21N R63W 1 Lots1-4:S2N2 316.17 133 Big Bear Oil & Gas 2100 682889 10-00385 GOSHEN T21N R63W 3 PtSESENE:S2 325 134 Big Bear Oil & Gas 2550 811281.15 10-00386 GOSHEN T21N R63W 4 Lots3-4:S2NW:SW 317.89 135 Big Bear Oil & Gas 1950 624383.4 10-00387 GOSHEN T21N R63W 9 N2 320 136 Big Bear Oil & Gas 1850 518338.6 10-00388 GOSHEN T21N R63W 11 N2NE:SWNE:NW 280 137 Big Bear Oil & Gas 1750 1120741.8 10-00389 GOSHEN T21N R63W 16 All 640 138 Big Bear Oil & Gas 2300 9269.8 10-00390 GOSHEN T21N R63W 18 NWSE 40 139 Diamond Resources Co. 450 72204.2 10-00391 GOSHEN T21N R63W 20 SENW:NESW:N2SE 160 140 Diamond Resources Co. 850 544741.8 10-00392 GOSHEN T21N R63W 36 All 640 141 Big Bear Oil & Gas 2350 754734.6 10-00393 GOSHEN T22N R63W 2 Lots2-4:S2N2:NESE 320.49 142 Big Bear Oil & Gas 2400 768383.37 10-00394 GOSHEN T22N R63W 3 Lots1-4:S2N2 319.77 143 Big Bear Oil & Gas 2400 384204.2 10-00395 GOSHEN T23N R63W 22 NW 160 144 Big Bear Oil & Gas 1550 248204.2 10-00396 GOSHEN T23N R63W 25 NENE:S2NE:NESE 160 145 Big Bear Oil & Gas 2150 344204.2 10-00397 GOSHEN T23N R63W 26 NE 160 146 Samson Oil and Gas USA Inc 35 8693.8 10-00398 GOSHEN T25N R63W 7 NE:E2NW 240 147 Samson Oil and Gas USA Inc 220 17714.6 10-00399 GOSHEN T25N R63W 8 W2NW 80 148 Big Bear Oil & Gas 950 156106.44 10-00400 GOSHEN T25N R63W 13 PtN2NE:SWNE:PtSENE:W2SE 162 149 Retamco Operating Inc. 57 9324.2 10-00401 GOSHEN T26N R63W 26 NW 160 150 Retamco Operating Inc. 37 24421.18 10-00402 GOSHEN T27N R63W 16 All 640 151 Retamco Operating Inc. 60 39141.8 10-00403 GOSHEN T27N R63W 36 All 640 152 Carpenter and Sons INC 5 3941.8 10-00404 GOSHEN T28N R63W 16 All 640 153 Contex Energy Co. 15 10341.8 10-00405 GOSHEN T28N R63W 36 All 640 154 Yates Petroleum Co. 25 16741.8 10-00406 NIOBRARA T37N R63W 16 All 640 155 Big Bear Oil & Gas 1525 450230.4 10-00407 GOSHEN T19N R64W 4 Lot1:S2NE:SE 294.97 156 Rocky Mountain CBM 1550 6269.8 10-00408 GOSHEN T19N R64W 12 SENW 40 157 QEP Energy Co. 525 84204.2 10-00409 GOSHEN T19N R64W 13 NENW:S2NW:NWSW 160 158 QEP Energy Co. 825 99159.4 10-00410 GOSHEN T19N R64W 14 SESW:NESE:SWSE 120 159 Big Bear Oil & Gas 1550 496383.4 10-00411 GOSHEN T19N R64W 16 S2 320 160 Big Bear Oil & Gas 1550 372293.8 10-00412 GOSHEN T19N R64W 19 E2SW:SE 240 161 Big Bear Oil & Gas 1825 7369.8 10-00413 GOSHEN T19N R64W 20 NESE 40 162 Big Bear Oil & Gas 1550 248204.2 10-00414 GOSHEN T19N R64W 30 E2NE:E2NW 160 163 QEP Energy Co. 125 656741.8 10-00415 GOSHEN T19N R64W 36 All 640 164 Big Bear Oil & Gas 2150 62407.48 10-00416 GOSHEN T20N R64W 4 Pt. 29 165 Big Bear Oil & Gas 2300 9269.8 10-00417 GOSHEN T20N R64W 9 SWNW 40 166 Big Bear Oil & Gas 2350 9469.8 10-00418 GOSHEN T20N R64W 19 NWSE 40 167 Big Bear Oil & Gas 1550 186159.4 10-00419 GOSHEN T20N R64W 20 NENE:SWNE:NESW 120 168 Big Bear Oil & Gas 2550 10269.8 10-00420 GOSHEN T20N R64W 26 SWNE 40 169 Big Bear Oil & Gas 1550 558428.2 10-00421 GOSHEN T20N R64W 33 W2E2:E2W2:SESE 360 170 Big Bear Oil & Gas 1550 992741.8 10-00422 GOSHEN T20N R64W 36 All 640 171 Big Bear Oil & Gas 2300 9269.8 10-00423 GOSHEN T22N R64W 30 SWSE 40 172 Big Bear Oil & Gas 2500 10069.8 10-00424 GOSHEN T22N R64W 32 SESE 40 173 Big Bear Oil & Gas 1650 1056741.18 10-00425 GOSHEN T22N R64W 36 All 640 174 Big Bear Oil & Gas 700 448741.8 10-00426 GOSHEN T23N R64W 16 All 640 175 Big Bear Oil & Gas 850 138757.46 10-00427 GOSHEN T23N R64W 18 Lots3-4:E2SW 162.14 176 Big Bear Oil & Gas 1200 192204.2 10-00428 GOSHEN T24N R64W 11 NW 160 177 Big Bear Oil & Gas 450 288741.8 10-00429 GOSHEN T24N R64W 16 All 640 178 Big Bear Oil & Gas 550 220473 10-00430 GOSHEN T24N R64W 20 S2NE:SENW:NESW:S2SW:SE 400 179 Big Bear Oil & Gas 700 168293.8 10-00431 GOSHEN T24N R64W 22 NE:N2NW 240 180 Big Bear Oil & Gas 600 144293.8 10-00432 GOSHEN T24N R64W 29 N2N2:SWNE:SENW 240 181 Big Bear Oil & Gas 600 384741.8 10-00433 GOSHEN T24N R64W 36 All 640 182 Retamco Operating Inc. 10 1759.66 10-00434 GOSHEN T26N R64W 31 N2NE:NENW:Lot1 155.5 183 Rocky Mountain CBM 14 629.8 10-00435 GOSHEN T26N R64W 32 NWNW 40 184 Samson Oil and Gas USA Inc 65 10604.2 10-00436 GOSHEN T26N R64W 35 SW 160 185 Samson Oil and Gas USA Inc 80 51941.18 10-00437 GOSHEN T26N R64W 36 All 640 186 Wes State Lands 10 914.6 10-00438 GOSHEN T28N R64W 3 E2SE 80 187 Wes State Lands 1 194.6 10-00439 GOSHEN T28N R64W 15 NWNE:SENW 80 188 Wes State Lands 4 3301.8 10-00440 GOSHEN T28N R64W 16 All 640 189 Wes State Lands 1 364.2 10-00441 GOSHEN T28N R64W 19 SE 160 190 Wes State Lands 1 703.4 10-00442 GOSHEN T28N R64W 20 S2 320 191 Wes State Lands 1 364.2 10-00443 GOSHEN T28N R64W 29 NE 160 192 Carpenter and Sons INC 5 3941.8 10-00444 GOSHEN T28N R64W 36 All 640 193 Wes State Lands 1 279.4 10-00445 GOSHEN T29N R64W 8 S2NE:SENW 120 194 Wes State Lands 3 684.2 10-00446 GOSHEN T29N R64W 9 W2NE:E2NW 160 195 Wes State Lands 1 194.6 10-00447 GOSHEN T29N R64W 12 NWSW:NWSE 80 196 Wes State Lands 1 788.2 10-00448 GOSHEN T29N R64W 12 NE:E2S2:SENW 360 197 Wes State Lands 1 618.6 10-00449 GOSHEN T29N R64W 13 N2NE:SWNE:E2NW:NESW:NWSE 280 198 Wes State Lands 1 1381.8 10-00450 GOSHEN T29N R64W 16 All 640 199 Wes State Lands 1 1381.8 10-00451 GOSHEN T29N R64W 36 All 640 200 Big Bear Oil & Gas 1600 698113.29 10-00452 LARAMIE T15N R65W 18 S2NE:SENW:E2SW:Lots3-4:SE 435.73 201 Big Bear Oil & Gas 750 121706.36 10-00453 GOSHEN T20N R65W 1 Lots1,2:S2NE 161.31 202 Big Bear Oil & Gas 700 234199.06 10-00454 GOSHEN T20N R65W 3 Lots3,4:S2NW:SW 333.86 203 Big Bear Oil & Gas 670 107404.2 10-00455 PLATTE T20N R65W 7 SE 160 204 Big Bear Oil & Gas 700 448741.8 10-00456 PLATTE T20N R65W 16 All 640 205 Big Bear Oil & Gas 980 1574.2 10-00457 PLATTE T20N R65W 18 NE 160 206 Big Bear Oil & Gas 1950 936562.6 10-00458 PLATTE T20N R65W 33 N2:SW 480 207 Big Bear Oil & Gas 600 96204.2 10-00459 GOSHEN T22N R65W 23 SE 160 208 Big Bear Oil & Gas 500 120293.8 10-00460 PLATTE T23N R65W 4 S2NW:SW 240 209 Big Bear Oil & Gas 600 144293.8 10-00461 PLATTE T23N R65W 18 NE:E2NW 240 210 Big Bear Oil & Gas 775 242174.44 10-00462 PLATTE T23N R65W 31 E2SW:Lots3-4:SE 312 211 Big Bear Oil & Gas 750 3069.8 10-00463 GOSHEN T24N R65W 25 NWNW 40 212 Big Bear Oil & Gas 300 192741.8 10-00464 GOSHEN T24N R65W 36 All 640 213 Land Rights Services LLC 6 4581.8 10-00465 GOSHEN T25N R65W 10 All 640 214 Land Rights Services LLC 1 1381.8 10-00466 PLATTE T27N R65W 16 All 640 215 Carpenter and Sons INC 5 3941.8 10-00467 GOSHEN T27N R65W 36 All 640 216 Wes State Lands 1 1381.8 10-00468 GOSHEN T28N R65W 36 All 640 217 Land Rights Services LLC 4 3301.8 10-00469 GOSHEN T29N R65W 36 All 640 218 Cirque Resources LLP 700 404571.2 10-00470 LARAMIE T15N R66W 30 NE:E2W2:Lots1-4:W2SE 576.64 219 Alfson Energy 650 76205.99 10-00471 LARAMIE T17N R66W 6 Lots3,4,7 116.57 220 David V.B. Olds 540 250057 10-00472 LARAMIE T17N R66W 7 E2:E2NW:Lots1,2 475 221 David V.B. Olds 600 384741.8 10-00473 LARAMIE T17N R66W 8 All 640 222 Withdrawn 0 0 0 LARAMIE T17N R66W 16 SWSE 40 223 Alfson Energy 525 168383.4 10-00474 LARAMIE T17N R66W 18 E2 320 224 LoneTree Energy and Associates LLC 650 416741.8 10-00475 LARAMIE T18N R66W 16 All 640 225 Big Bear Oil & Gas 700 364607.4 10-00476 LARAMIE T19N R66W 11 N2N2:SWNW:S2 520 226 Big Bear Oil & Gas 700 448741.8 10-00477 LARAMIE T19N R66W 16 All 640 227 Big Bear Oil & Gas 650 208383.4 10-00478 PLATTE T20N R66W 28 W2 320 228 Big Bear Oil & Gas 1750 1120741.8 10-00479 PLATTE T20N R66W 36 All 640 229 Rocky Mountain CBM 610 24469.8 10-00480 PLATTE T22N R66W 30 NENE 40 230 Big Bear Oil & Gas 1275 102114.6 10-00481 PLATTE T22N R66W 32 E2SE 80 231 Yates Petroleum Co. 40 628.52 10-00482 PLATTE T24N R66W 4 Lots2-3:SENW 145.96 232 Yates Petroleum Co. 260 83583.4 10-00483 PLATTE T24N R66W 28 NENE:S2NE:NESW:SE 320 233 David V.B. Olds 500 240562.6 10-00484 LARAMIE T17N R67W 14 N2:SW 480 234 David V.B. Olds 475 247607.4 10-00485 LARAMIE T17N R67W 15 N2:SW:NWSE 520 235 David V.B. Olds 530 854.2 10-00486 LARAMIE T17N R67W 20 SE 160 236 Simray Production Co. LP 350 168562.6 10-00487 LARAMIE T17N R67W 21 N2:SW 480 237 Simray Production Co. LP 335 107583.4 10-00488 LARAMIE T17N R67W 22 N2 320 238 Simray Production Co. LP 400 64204.2 10-00489 LARAMIE T17N R67W 23 NE 160 239 Land Rights Services LLC 435 69804.2 10-00490 LARAMIE T17N R67W 23 NW 160 240 Alfson Energy 425 68204.2 10-00491 LARAMIE T17N R67W 24 NW 160 241 David V.B. Olds 510 81804.2 10-00492 LARAMIE T19N R67W 13 W2W2 160 242 David V.B. Olds 390 62604.2 10-00493 LARAMIE T19N R67W 14 E2E2 160 243 Rocky Mountain CBM 1300 53370.83 10-00494 LARAMIE T19N R67W 30 Lot4:E2SE 40.28 244 David V.B. Olds 1225 98114.6 10-00495 LARAMIE T19N R67W 35 W2SW 80 245 David V.B. Olds 150 672741.8 10-00496 LARAMIE T19N R67W 36 All 640 246 Yates Petroleum Co. 35 4251.02 10-00497 PLATTE T22N R67W 30 Lot4:E2SE 116.87 247 Yates Petroleum Co. 107 17324.2 10-00498 PLATTE T23N R67W 15 NW 160 248 Yates Petroleum Co. 105 67941.8 10-00499 PLATTE T23N R67W 16 All 640 249 Yates Petroleum Co. 109 6697 10-00500 PLATTE T23N R67W 20 E2:NENW:S2NW:SW 600 250 Yates Petroleum Co. 109 48477.8 10-00501 PLATTE T23N R67W 21 N2NE:SWNE:E2NW:SW:S2SE 440 251 Yates Petroleum Co. 109 6697 10-00502 PLATTE T23N R67W 29 N2:SW:N2SE:SWSE 600 252 Yates Petroleum Co. 109 17644.2 10-00503 PLATTE T23N R67W 31 NE 160 253 Land Rights Services LLC 7 5221.8 10-00504 PLATTE T26N R67W 16 All 640 254 Fairways Exploration and Production LLC 70 16524.77 10-00505 PLATTE T20N R68W 4 Lot3:SENW:SW 231.44 255 Retamco Operating Inc. 10 469.8 10-00506 PLATTE T20N R68W 5 SWNW 40 256 Retamco Operating Inc. 8 389.8 10-00507 PLATTE T20N R68W 40 257 Yates Petroleum Co. 3 189.8 10-00508 PLATTE T20N R68W 10 SWSE 40 258 Fairways Exploration and Production LLC 53 34661.8 10-00509 PLATTE T20N R68W 16 All 640 259 Fairways Exploration and Production LLC 55 4514.6 10-00510 PLATTE T20N R68W 17 S2SE 80 260 Fairways Exploration and Production LLC 55 2269.8 10-00511 PLATTE T20N R68W 22 NWNW 40 261 Fairways Exploration and Production LLC 55 11249 10-00512 PLATTE T20N R68W 27 W2NW:SENW:NESW:NWSE 200 262 Fairways Exploration and Production LLC 50 4114.6 10-00513 PLATTE T20N R68W 28 N2NE 80 263 Yates Petroleum Co. 45 5651.56 10-00514 PLATTE T21N R68W 2 Lot1:SENE:NWSE 121.35 264 Retamco Operating Inc. 8 754.6 10-00515 PLATTE T21N R68W 32 S2NE 80 265 Retamco Operating Inc. 32 1349.8 10-00516 PLATTE T21N R68W 35 SESW 40 266 David V.B. Olds 34 22501.8 10-00517 PLATTE T21N R68W 36 All 640 267 R. C. Michael Co. Inc. 8389.8 10-00518 PLATTE T22N R68W 2 SENE 40 268 Retamco Operating Inc. 3 1508.2 10-00519 PLATTE T22N R68W 8 SWSW 360 269 Nerd Gas Co. 8 2943.4 10-00520 PLATTE T22N R68W 11 E2 320 270 Nerd Gas Co. 4 4229.8 10-00521 PLATTE T22N R68W 21 SWNE 40 271 Yates Petroleum Co. 95 61541.8 10-00522 PLATTE T22N R68W 36 All 640 272 Yates Petroleum Co. 3 614.05 10-00523 PLATTE T24N R68W 4 P 142.09 273 Yates Petroleum Co. 3 1343.4 10-00524 PLATTE T24N R68W 34 E2 320 274 No Bid 0 0 0 PLATTE T25N R68W 11 NESE 40 275 No Bid 0 0 0 PLATTE T25N R68W 12 N2SW:NWSE 120 276 No Bid 0 0 0 PLATTE T25N R68W 25 SENW 40 277 No Bid 0 0 0 PLATTE T25N R68W 26 SW 160 278 No Bid 0 0 0 PLATTE T27N R68W 23 N2N2:SENE:SWNW:N2SW 320 279 No Bid 0 0 0 PLATTE T27N R68W 23 SWNE:SENW:N2SE 160 280 No Bid 0 0 0 PLATTE T27N R68W 25 E2W2 160 281 No Bid 0 0 0 PLATTE T27N R68W 34 NWSW 40 282 No Bid 0 0 0 PLATTE T27N R68W 36 All 640 283 No Bid 0 0 0 PLATTE T28N R68W 29 NW 160 284 Ballard Petroleum Holdings LLC 160 679141.8 10-00525 CONVERSE T39N R72W 36 All 640 285 Yates Petroleum Co. 100 704741.8 10-00526 CONVERSE T40N R72W 16 All 640 286 Ballard Petroleum Holdings LLC 1175 188204.2 10-00527 CONVERSE T37N R74W 34 W2W2 160 287 Hannon & Associates Inc. 26 4364.2 10-00528 CARBON T20N R79W 18 SE 160 288 Hannon & Associates Inc. 38 2561.8 10-00529 CARBON T20N R79W 20 All 640 289 Silver Eagle Exploration Inc. 5 3929.47 10-00530 CARBON T18N R80W 4 Lots1-4:S2N2:S2 637.24 290 Silver Eagle Exploration Inc. 5 3941.8 10-00531 CARBON T18N R80W 16 All 640 291 Silver Eagle Exploration Inc. 5 3941.8 10-00532 CARBON T19N R80W 22 All 640 292 Silver Eagle Exploration Inc. 5 3941.8 10-00533 CARBON T19N R80W 26 All 640 293 Silver Eagle Exploration Inc. 5 2962.6 10-00534 CARBON T19N R80W 28 NW:S2 480 294 Silver Eagle Exploration Inc. 7 2948.2 10-00535 CARBON T19N R80W 34 N2:SWSE 360 295 No Bid 0 0 0 CARBON T21N R86W 16 All 640 296 Double Eagle Petroleum Co. 39 25701.8 10-00536 CARBON T16N R90W 36 All 640 297 Double Eagle Petroleum Co. 40 26341.8 10-00537 CARBON T17N R90W 16 All 640 298 Double Eagle Petroleum Co. 40 26341.8 10-00538 CARBON T17N R90W 27 All 640 299 Double Eagle Petroleum Co. 40 26341.8 10-00539 CARBON T17N R90W 34 All 640 300 Double Eagle Petroleum Co. 60 39141.8 10-00540 CARBON T18N R91W 36 All 640"
So, if your section is anywhere near some of these, it might give you some decent indication of the bonus payment you should be aiming to get. So far as royalty percentage, you should be able to get at least 18.75% to 20%. The term should be no more than 3 years.
As for an attorney, I’d recommend one eventually, but you can do some initial dealing on your own.
Our Section is as follows…
Section 30 Township 14 North Range 60 West Laramie County, Wyoming
How does that relate to the “T” numbers in this data.
We are completly new to this so we don’t know what a bonus payment would be? Are the lease fees yearly or are they a one time fee?
Please help us translate our Township/Section number into the T# R#
Thank you VERY much for this info!!!
Township 14 Range 60 Section 30 = LARAMIE T14N R60W 30 looks like items 30, 31 in the list would be closest proximity to yours.
I agree with Lisa, leasing is probably wiser than selling. The lease bonus is paid one time when the lease is signed. As you will learn from reading other posts, the real money comes from the royalty interest percentage [assuming a well is drilled and producing], not from the lease bonus. I prefer to negotiate a lower bonus per acre and a higher royalty interest but the oil companies and landmen will try to go the other way.
Paul McDuell said:
Our Section is as follows…
Section 30 Township 14 North Range 60 West
Laramie County, Wyoming
How does that relate to the “T” numbers in this data.
We are completly new to this so we don’t know what a bonus payment would be?
Are the lease fees yearly or are they a one time fee?
Please help us translate our Township/Section number into the T# R#
Thank you VERY much for this info!!!
The royalty payments kind of look all over the board. Prices vary significantly in a rather small area. I don’t know if it’s because the value is really that different, or if it’s more a matter of the dynamics of an auction. This link below is really long, but it’s helpful. It’s a map of the Niorbrara, and it shows townships and ranges, so you can “locate” yourself.
If you haven’t already, I’d recommend entering “Niobrara” or “Weld” in the search box, and you’ll hit on a discussion about the Niobrara and leasing. You’ll also see some names like Ted Preston, who may be a good resource to call.
I’m sorry to have to admit, but I haven’t searched the forum at all (didn’t know what to search for). Thank you Lisa, Thank you Dorthy, you have been a GREAT help!!!
Thanks for the reply Ted. I have been reading several of your posts, you are a great resouce for information in this area. From the other replies I’ve received and the bit of research I’ve done, it appears that the general consenses is that a lease is the way to go.
The only information I have on our mineral rights is what I revieved from my Sister, and that info. came from the company that was interested in purchasing our rights. So, I’m not even certain of what we own. I could look that information up myself in Calif. (I’m a Realtor) but I don’t have that luxury for Wyoming.
I was thinking about calling a title insurance rep. to see if they could look up our ownership. Here in Calif. land ownership is available online, but from what I’ve read, much of that the mineral rights ownership in Wyoming is only available on microfiche.
I do have some very basic questions.
The Lease Bonus - would that be a one time payment of the amount agreed upon per acre times the total number of acres. As a simple example - if offered $100 per Acre and we owned 100 Acres, would that amount to a one time payment of $10,000?
The Royalty - I assume that is a percentage of the net value of the oil they retrieve. So, if they bring out $10,000 worth of oil after their costs, and we had agreed to a 20% split, then we would get $2,000.
How can we be assured that they will be honest with us about the amount of oil they retrieve? I would seem to me that it would be pretty easy to say that most of their oil is coming from land they either own or from leases where they have to pay a smaller royalty. And IF the later is the case, maybe a higher bonus and a smaller royalty would make sense??? LOL… (do I sound paranoid???)
Also, there is a lot of talk about Auctions. I’ve been to a lot of Car Auctions, but not a single farm auction (which I’m sure you have several of in Wyoming), and certainly never attended a Mineral Rights Auction. Are these Live Auctions? How does enter their property in an Auction? Are reserves set? Should I put it on Ebay (just kidding on that last one)!
Thanks a bunch Ted, and everyone else.
Learning more all the time - I found out that Stewart Title doesn’t do mineral rights. They referred me to Pacer Energy (anyone heard of them?). They told me that a title search on Micorfiche would have to be done all the way back to the first transfer from the Government and each successive transfer since then. He also said that it is very possible that we only own a portion of the rights to that section. He said that he would look for a company interested in leasing our rights and if he could find one, that they would do the title research. I’ll write back if they contact me and ask the forums advice.
I think you are correct as to number 1 and 2. If the term of the lease is for say 3 years, if nothing is done on the land during that time, another bonus payment would be due to extend the lease. As for the honesty factor, it is a good reason to go with a reputable operator. In any event, they are all pretty well regulated, and lying would not be in their overall best interests. As for the auctions, the one I quoted you was actually for BLM land. I have read about some private auctions, but I’d venture to guess they are rather rare.
Paul McDuell said:
Thanks for the reply Ted. I have been reading several of your posts, you are a great resouce for information in this area. From the other replies I’ve received and the bit of research I’ve done, it appears that the general consenses is that a lease is the way to go.
The only information I have on our mineral rights is what I revieved from my Sister, and that info. came from the company that was interested in purchasing our rights. So, I’m not even certain of what we own. I could look that information up myself in Calif. (I’m a Realtor) but I don’t have that luxury for Wyoming.
I was thinking about calling a title insurance rep. to see if they could look up our ownership. Here in Calif. land ownership is available online, but from what I’ve read, much of that the mineral rights ownership in Wyoming is only available on microfiche.
I do have some very basic questions.
1. The Lease Bonus - would that be a one time payment of the amount agreed upon per acre times the total number of acres. As a simple example - if offered $100 per Acre and we owned 100 Acres, would that amount to a one time payment of $10,000?
2. The Royalty - I assume that is a percentage of the net value of the oil they retrieve. So, if they bring out $10,000 worth of oil after their costs, and we had agreed to a 20% split, then we would get $2,000.
How can we be assured that they will be honest with us about the amount of oil they retrieve? I would seem to me that it would be pretty easy to say that most of their oil is coming from land they either own or from leases where they have to pay a smaller royalty. And IF the later is the case, maybe a higher bonus and a smaller royalty would make sense??? LOL… (do I sound paranoid???)
Also, there is a lot of talk about Auctions. I’ve been to a lot of Car Auctions, but not a single farm auction (which I’m sure you have several of in Wyoming), and certainly never attended a Mineral Rights Auction. Are these Live Auctions? How does enter their property in an Auction? Are reserves set? Should I put it on Ebay (just kidding on that last one)!
Thanks a bunch Ted, and everyone else.
Paul…first of all, find out how many mineral acres you actually own through the assessors office. Then talk to neighboring owners. Learn all you can about what, who, when the drilling is happening around you. Keep the lawyers out of your negotiations…they are generally “deal killers”. Make sure a landman has references and check them out. As to price, same rules apply to betting in Vegas, anything goes. As to an appraiser, don’t waste the thousands you will have to pay a geologist. It is all a guessing game at best. Use this post to query with others about the pit falls and gains they have made. As a mineral owner, you have a little better chance than buying a lottery ticket…good luck!
Lottery Ticket, oh no, I’ve never won anything from the Lotto…
So, if the Assessor’s office only has Microfiche, that would mean I would have to visit. That’s a LONG way from Calif. I think I will contact the company that contacted us in the first place to find out what they know. You sure put a rain on my parade - LOL - I was ready to start smoking big cigars and lighting them with $100 bills!
Seriously though, I do appreciate the advice.
They should immediately be able to tell you who is paying taxes on the mineral rights, without having to go to microfiche. If nobody is on record for paying the taxes specifically on the mineral rights, then they’d generally be presumed to belong to the surface owner. But, I wouldn’t count on those records–it’s just a good starting point. Since talking to your neighbors is kind of out (especially since neighbors aren’t exactly close when you’re talking about entire sections of land), you can find out quite a lot online. Have you checked out resourceplay.com yet to locate nearby oil wells? Have you checked out Wyoming’s Oil and Gas Commission website? The answer is probably no, but does the Clerk and Recorder’s office for Laramie County have their records recorded, so that you can view nearby leases? You don’t need an attorney to negotiate for you (if you feel it’s something you can do yourself), but I highly recommend you have one review the final proposed lease. As for a landman, I’d recommend a guy named John Geyer. He’s got great relationships with the operators, and he does a lot of work in Colorado and Wyoming.
Paul McDuell said:
Lottery Ticket, oh no, I’ve never won anything from the Lotto…
So, if the Assessor’s office only has Microfiche, that would mean I would have to visit. That’s a LONG way from Calif. I think I will contact the company that contacted us in the first place to find out what they know. You sure put a rain on my parade - LOL - I was ready to start smoking big cigars and lighting them with $100 bills!
Seriously though, I do appreciate the advice.
Thank you Lisa! This website and all of your contributions are a windfall for me. Your advice is greatly appreciated.
Paul
We just got a reply from the company that sparked this conversation by asking if we were interested in selling our Mineral Rights. It appears they are no longer interested. Guess I’ll stop lighting the cigars with the $100 dollar bills now.
I’ve contacted a few other companies who have promised offers, but none have come through.
Any suggestions? Is it time to just give up and continue to hold, or should I be actively searching from some company to lease our rights??
Thanks group.
It sounds like you’ve been busy! How long has it been since you talked to the brokers/operators? I’d wait a few more days before giving up on them. Did you reach out to the ones that currently have permits in Laramie County (by looking at the oil and gas commission website)? Hopefully the delay is caused by the agents having to speak to the powers that be, and checking title. There’s always that chance that someone has drilled a dry well, and companies are stepping back a bit, but I doubt that. So, chill for a little while, and then maybe contact a couple more companies if you don’t end up with a couple of offers.
Paul McDuell said:
We just got a reply from the company that sparked this conversation by asking if we were interested in selling our Mineral Rights. It appears they are no longer interested. Guess I’ll stop lighting the cigars with the $100 dollar bills now.
I’ve contacted a few other companies who have promised offers, but none have come through.
Any suggestions? Is it time to just give up and continue to hold, or should I be actively searching from some company to lease our rights??
Thanks group.
Paul,
I noticed the discussion regarding your mineral interest, I am working as a Landman in Wyoming and would like to talk to you about your family’s mineral interest.
Great, send me an email - Paulca@cox.net. I would love to hear from you.
Thanks
Robert O’Neal said:
Paul,
I noticed the discussion regarding your mineral interest, I am working as a Landman in Wyoming and would like to talk to you about your family’s mineral interest.
We got a call offering a 6 royalty and 275 an acre.
Does that mean we would receive 6% of the profits from what they pull out of the ground and $275 per acre one time fee for the term of the leases?
If so, doesn’t that seem kind of low? I thought they normally offered more like 18% to 20%
Sorry it’s been so long since I have posted, my wife passed away in Sept. and turned my world upside down.
thanks, Paul
Great, send me an email - Paulca@cox.net. I would love to hear from you.
Thanks
Robert O'Neal said:Paul,
I noticed the discussion regarding your mineral interest, I am working as a Landman in Wyoming and would like to talk to you about your family's mineral interest.
Paul,
I'm sorry to learn of your loss.
You're correct that a 6% royalty sounds abnormally low, though 18% to 20% sounds abnormally high to me, too. A few get that much, if they are in proven productive fields, but very few. Are you sure they were not offering 1/6 royalty? (That works out to 16.6667%, and is fairly common in the unproven Niobrara prospects in the D-J basin north of the Colorado border and in the Powder River basin.)
On a side note, you'll be glad to know that lease offers have been going up since September. At the most recent Wyoming state mineral rights lease auction in November, bid values had gone up by about 30% since the July auction, for parcels in similar areas. There were at least a couple instances where a lease on a single section brought more than $2.5 million.
Thank you for the condolances and for the lease info.
I haven’t spoken to the folks yet, but you were right, sounds like 1/6th.
This is great news!!
I am interested in making an offer, where are your mineral rights located, section ,twp,range