Hello, I have a small fractional interest in mineral rights in Tyler Co., West Virginia, passed down from a family member in the 1800s. Could you provide insight into the value of holding onto this interest versus selling it?
I’m bombarded with potential buyers who offer a pittance of the wells’ potential worth. How can a consumer weed out the wheat from the chaff?
Welcome to the form , most oil companies will offer large sums for minerals before a big play ! Most of the will profit 3 to 5 times of your mineral reserves, I be patient and let them lease and not sale ! If you got to sell get you attorney! And get your money first ! Sometimes the oil company will buy your mineral and selll them to someone else 3 months later and then pay you ! Good luck
There is no one right answer to the question of keeping vs. selling your mineral interest. Things to consider, does it complicate your tax return, will your kids keep up with this when you pass away; would the money be better used someplace else, like an investment account. Alternatively, people in the investment business preach diversification. So, this is likely to be different from what you own presently. You may also want to wait to see what the average monthly revenue is.
Now with that said, if the money needs to be used because of necessary medical bills or educational needs, then that is different.
Tim has good advice. You can look up your area on the WV oil and gas maps. https://tagis.dep.wv.gov/oog/ to get a feel for the activity,
I get a pittance a few times a year. I’m more interested in finding people who must be my relatives.