I have appx 400 acres in mineral rights and want to see about selling them. How should I proceed?
No one can really tell you how to proceed. What you can do is become informed as to the implications of various options, and an understanding of the market into which you would possibly sell your asset. Here are a few points that you’ll want to consider:
a. What is it that you own? Minerals, an ORRI, a NPRI, a Working Interest, in perpetuity, life estate? These are all valid forms of interests in a mineral estate.
b. Exactly how many NET mineral acres do you own? Size matters to would be buyers.
c. Is it leased? What are the terms of the lease? Who is it leased to? That matters too.
d. How much time and/or effort do you want to spend in negotiating/haggling - that is, if what you have is of interest to any buyer? Some minerals are worth very very little.
e. Is it producing old fashioned money? That always gets at least some attention. 
f. Does it have wells on it, old or new, horizontal or vertical, producing or not, how deep are they?
g. Is the title history clean? How do you know?
h. Is there money in suspense or not? How do you know?
i. Do you have a pancake or a wedding cake? You know, a plot of land with a single permeable/porous horizon or multiple (possibly/probably productive) horizons (ie, formations).
j. Is the property likely in the $10,000 dollar value range, or the $1mm value range - the buying pool is much different for these - and of course the amount of time and $ you would want to invest in selling it would be influenced greatly.
Consider the example of selling a car. If you’ve got an old jalopy that’s worth a few hundred bucks, you’re probably best served by parking it in the grass along a roadside with a FOR SALE sign in the window, assuming you want to put up with all the tire kickers and various sorts that show up wanting to “deal”. But if you’ve got a fine classic that’s worth a few hundred thousand dollars, you want to be involved with Pros that are working for you under professionally written and understood agreements as to exactly what they’ll be doing for you, and the fees/terms of their work on your behalf.
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If you have to advertise selling your mineral interest, you’re probably going to get ripped off. If the minerals are in a good area with respectable buyers, they will contact you. Thats the best advice I can give.
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