My mother died last Saturday. I need to determine the value of her mineral rights. I have asked 4 different people and have gotten 4 different answers. One mineral right is in Oklahoma and is producing income. One is in Mississippi and not producing any income.
My sincere condolences to you in the loss of your mother.
Here are a few questions and comments that I hope can help you.
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exactly why do you need to know values? retrospective for tax basis purposes? entertaining a sale? One can argue that the amount of time, effort, and money spent on obtaining value could be different according to need
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for the producing one, one idea is to simply ask the Operator to make you an offer. In theory, they know more about its value than anyone (of course, if additional horizontal potential exists, be careful of this possibility)
I hope that helps a bit.
For producing property use 60 months times your monthly average. For the non-producing, use $50.00. This is not legal advice.
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