Sorry if this post is long. I own minerals on 30 acres in Section 8, Township 8 North, Range 6 West. There hasn’t been much interest there for several years, but I received an offer now from Jackfork Land, Inc to lease it for $500 per acre for 3 years. I have some questions I hope someone can help with:
- Is there beginning to be some new interest or activity in that area?
- Is the $500 a fair price or a lowball price? And can anyone give me a ballpark idea of what’s closer to its worth?
- Also, can someone give me a ballpark figure of what those minerals would be worth if I were to sell instead of lease?
- I am totally clueless about most of this lol… I saw someone comment about having a ‘depth clause’ put in any lease… what’s that?
- Are there companies I could contact to see if they’re interested in leasing it? Or just wait for offers?
Thanks in advance for any help! David