Hi, I also am new to all this. I mineral rights in section 6 township 9 north range 5 west. We have had an offer of 11,750 per mineral acre. From what I'm reading this might be a little low. Does anyone have any information, Thanks ammie
it depends, what is your royalty interest? 1/8th, 3/16th, 1/5th?
I BELIEVE THEY TOLD MY COUSIN 7/16 IS THERE A WAY THAT I CAN FIGURE THAT ?
I've never heard of a royalty interest that high, I'm almost positive there was some miscommunication, that being said for some odd reason that is correct then that $11,750 is very low.
That is what she told me, but third party repeat is often wrong. I really appreciate your time. Can you tell me if there is a place on the portion of payment slip that would show this? Thanks again
Sounds like a miscommunication. 7/16th is more likely the fractional ownership in the mineral rights on the tract of land. By royalty I believe Johnathan was referring to the royalty provided for in the oil and gas lease that was signed by either yourself or your predecessor in title.
You can derive this information from the payment slip if you know your either your lease royalty or your fractional ownership in the unit (your net mineral acres divided by gross acres in the unit). Sometimes you can guess the base lease royalty, as it is generally 1/4th, 1/5th, 3/16th or 1/8th. Simply find the number that fits.
Thank you so much, I will try this and see what I come up with. Thanks again
Just wondering. Was this an offer to lease or to sell?
PKD THE OFFER WAS FOR ME TO SELL