We own mineral rights to approx 1,000 acres in Ty Valley Pittsburg County OK. We wish to explore options to lease or sell the mineral rights. I am fiduciary for 2 different Trusts that hold rights in the same sections. What is the best approach to explore my options? Thanks in advance for any advice.
It depends on the type of asset you are trying to lease/sell. Is it producing? Does it have permits or activity near it? Do you have lease or purchase offers being sent to you?
You have some options. There are mineral buyers in the directories above. You should contact them. You can always list the minerals in the MCEE or Energynet auctions. Go on okcountyrecords.com and under instrument type, put in mineral deed. Then you can see who is buying minerals in Pittsburg county. (ignore those deeds where they are transferring property to family entities.) For example, Grayton Energy appears to be buying minerals.
Non producing. We have leasing offers on our property in the Kiowa township but not Ty Valley.
Non-producing can be a bit harder to sell. You will maximize our return by having both trusts sell in the same transaction. I would also advise you insist on selling all properties to the same buyer. If one has a lot of activity, it will obviously have more interest, but if you sell only that portion, you may be stuck with Ty Valley that could be only an administrative burden and hard to find a buyer for. If you sell it before it is leased, it will be worth more. But, be mindful of timing of the drilling plans so that you don’t get left out. Good luck!
If you list the section, township and range, we may be able to help you with the activity. Non-producing right now does not mean that there isn’t drilling about to happen.
I feel your pain. I own 1/2 of 500 acres in Garvin County on a farm I inherited 30 years ago, but it sits right by a fault. Big time wells being drilled a couple miles of me in either direction. Unfortunately theres nothing you can really do, Ive tried my darndest to lease or sell them for pennies on the dollar, but if its not an area that produces, you just have to accept it and move on while cursing the mineral gods that your ancestors didnt get better areas that would be drilled on 60 years later 