Hello!
I'm new to the forum and not really sure where to start. I have inherited mineral rights only on 160 acres in Township 2N, Range 63W, Section 20 and have recently been geting calls asking if I'd like to sell a portion (half). The company is Family Tree and they are offering $84,000 ($150/net acre). I live in Kentucky so I don't have a clue when it comes to this stuff. Can anyone give me some friendly advice or suggestions on where/how to start my research?
I wouldn’t sell them. You could get close to that amount on just a 5 year lease.
Thanks, Tom. The company was Aegis who initially made contact. And I'm guessing they are a broker? How do I find out if anything is happening in my area?
What is the nearest town in that area??
I live in Kentucky, but I believe they told me that it's closest to Greeley?
Yes if it is close to Greeley there is activity. I think that they are trying to take advantage of you a little. If it is close to Greeley you can probably ask for $500 to $1500 per acre for a five year lease and then still get paid royalties if they drill. If they don’t and the lease expires in five years you can lease it again. If you want to sell them so you don’t have the headache just let me know.
Is there an existing lease on the property? Are you receiving monthly royalty checks?
Derek
Gary,
Your section's value is there but in the future. If your inherited minerals are not leased, find out how the business works in Weld County and plan accordingly. Leases alone will go for 10 to 15 times what you have been offered if exposed to the companies who will know the true future value. A sale now could cost your family millions in the future. If you truly control 160 acres, your options are many and income huge if you are patient and educate yourself.
Remember that a fair market trade is between an informed buyer and informed seller or lessor.
Gary,
I am with a large mineral acquisition company based out of Fort Worth, Texas. I am based in Denver, Colorado and have been working Weld County for about five years now. We have been purchasing minerals in Weld for the last year or so. Due to the rules of this forum, I can't give you any personal information but we can friend each other and I would be happy to discuss in more detail. Please accept my friend request and I would be happy to speak to you and answer any questions you may have.
Thank You,
Jeremy Gautreaux
Not that it matters much but I believe a zero was misplaced in the original post. If the total offer is 84,000 the price per acre would be a lot different than 150/acre. Do you mean 1,050.00 per acre?
Hi Gary,
My company purchases producing and non-producing assets in Weld County. If you would like to speak regarding your interest please let me know. Best.