How to get appraisal for gas/oil rights inherited in 1992?

Ownership and Title
1

In 1992, I inherited the gas/oil rights to a small property in Upton County, TX from my father. Last year, it began producing. Then, I heard about the oil depletion allowance. My father left no records as to what he originally paid for this. Of course, whatever it was would be stepped up as of the 1992 date of his death.

QUESTION: How would I get an appraisal of the stepped-up 1992 value of my gas/oil rights so I can use the oil depletion allowance?

Many thanks,

George Ley Va

2

George:

Minerals are very difficult to appraise and the appraisals will basically provide a fair market value whereas the going rate might be more or less. One good source for mineral appraisals is information obtained from neighbors around your mineral area. Also, you might contact the Upton County Appraisal District (McCamey, Tx) at (915) 652-3221 and attempt to get a list of local mineral appraisers. Hope this information helps and good luck in your quest for an appraisal.

3

Many thanks for this lead, Charles.

George Ley Va