We’ve inherited mineral rights in Section 32, T16N-R5E in Lincoln County, OK. Over the past several years, we’ve leased the rights to various companies with hopes of producing a mineral harvest but no drilling or harvest ever materialized. We are looking for the forum’s advice on if holding the rights makes sense or if selling is the proper decision. If selling is the recommendation, what would a reasonable offer be for this particular area? Thank you…
P.S. I have a similar question for mineral rights in Rankin County, MS. Any advice on this area is also appreciated.
The general answer is that if there is no current exploration activity nearby, it is unlikely that you will get much in the way of offers. When dollars are limited, they will be focused on high impact areas.
Thank you Ms. Barnes. I sincerely appreciate your expertise and commentary.
If I decide to hold the inherited mineral rights, is there any recording required with the local government agencies (like deed updates, etc)? I suspect our contact info is available as we’ve been contacted about leasing requests. Is that enough?
Make sure that your name and address and a description of your minerals are filed in every county where you own minerals. Then a landman can find you. Contact the clerk of records or deed (for inherited mineral rights)in the courthouse to find out the proper procedure.