Unfortunately, I am in a situation where I must seriously consider selling my Blaine county minerals at 2-19-13, about 10-15 acres. Of course, I need to get top dollar. I have absolutely no idea how to go about doing this. Any tips, links, or guidance would be greatly appreciated.
Shorner, regardless of all the wild prices you may see on this site, not all of Blaine County is on fire with prices and production. Unfortunately your area is not well tested and that will greatly limit the value compared to the other parts of the county that have been tested and proven.
It appears a well was drilled in your section and is producing. You need to know what your royalty rate is. You should have multiple checkstubs. Those will help determine value.
Are the minerals in your name (deeded to you) or did you receive them through the death of a family member? If they are not in your name then you probably have some court actions necessary to clear that up.
Price is always nice but read any contract very carefully. Getting tied down with a bad contract that you signed b/c the price was highest may not be in your best interest.
Shop around, do your homework, know what you are selling and who you are selling to.
Friend me and I can talk more specifically or answer direct questions.
Thank you for the info. The lease was signed by my uncle in 2012 before they were deeded to me. I'm 99% sure it's 3/16. If the area is still mostly untested, I may try to hold out a bit longer.
Stewart is absolutely correct. The action in Blaine County is not very close to your minerals. However, it looks like Devon Energy is buying leases in section 2. Advocate Oil and Gas and Mayhawk are buying and reselling minerals. One recent transaction (from Advocate Oil and Gas to Route 66 MInerals) shows a price of $1,880 per mineral acre. Another (Mayhawk to Advocate) shows a price of $1,600 per mineral acre.
My sister is interested in selling hers as well. She has the same amount in the same location, so altogether it would be 20-30 acres.