I continue to receive unsolicited offers to purchase mineral rights held in Reeves County (6.2 NMA) with producing wells leased to Chevron and Colgate on behalf of a family partnership. We don’t need the money, but a few siblings would like to “clean up” their balance sheet as they prepare their estates. I’d welcome suggestions for which landmen are most reputable to negotiate a sale.
1 Like
I would avoid private sales using a landman. Those types of sales are the most likely to receive unfavorable valuations. The best way to sell minerals is to use a public auction site. Make sure that it is a site with public listings rather than one of the ones where they ‘market your assets to our buyer group’. Transparency is key.
Google ‘oil and gas minerals auction site’ for a list of potential listing venues.
1 Like
So you have a couple of issues you need to address. First, have you or your siblings developed a minimum expected value (floor value) for the mineral interest. If not, how will you determine an acceptable offer? Second, how will the property be marketed (auction or private sale). Do you require professional assistance related to the marketing? Do you require professional assistance related to an actual sale transaction documents? Finally, what is your expected timeline. I have been purchasing minerals for my own account for 40 years. The greatest mistake I find in sellers is they do not invest adequately in order to understand the true market value of their property. Good luck to you and your siblings.
Thanks for the feedback! Working on the details needed to put this on the auction site.
This topic was automatically closed after 90 days. New replies are no longer allowed.