Family trying to decide what to do with MR for 1412 acres in Musselshell County, T07N R28E Sec 4 & 5. Should we approach surface land owner to sell and if so how much? Put on an exchange and see if we get any offers? Just hold even though we need some cash flow?
I see nothing but dryholes within the area. Are there other operations that you know of in the area that would add value to the minerals? I would approach the surface owner as your best market since they may want the control. If you have a tax basis in the properties, talk to a tax advisor about the benefits at selling below that basis. I turned down a similar project recently. The seller wanted $100/ac and went quickly to $30/ac before I could even respond. I could not even offer $10/ac, so I advised them to seek similar options. Good luck.
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So if a landowner does want to get the mineral rights back together with surface rights, what would be a fair price? I would think that any future and unknown minerals have inherent value that would basically shift from my family to the landowner’s family. Who’s to know what will be a resource in the future that is yet to be discovered. I guess I am trying to figure out how to put a value on the unknown 
I tried to address this in the previous post. From my perspective as a investor/buyer there is no value in these oil and gas mineral rights. You could try and hire someone to provide an evaluation for you to start a conversation with the landowner, but you may not recover that cost even if there is a sale. I would contact the landowner and see if there is an interest in acquiring the rights, then see if you can progress that to an acceptable price. Be prepared for a lengthy process and potential disappointment.
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