One of my cousins is needing a valuation on some mineral acreage in McKenzie County (145N/99W) - these particular sections are unexplored so far in the Bakken sense. Can anyone give me a ballpark value for unexplored mineral acreage for that area?
If my cousin needed a more authoritative valuation - any suggestions as to who to contact?
Thanks very much,
The answer depends upon why the cousin needs the evaluation. If for capital gains purposes, then one needs a professional evaluation which may be called a retrospective evaluation since it has to go back to a cost basis at a particular point in time such as a purchase or inheritance so date of death. If a ballpark, then that is a different kind. If a professional is needed, then you can contact the NARO Chapter that includes that area and they may have some suggestions. There is also a national appraiser association and they may have members familiar with the area.
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