I’m considering selling my currently leased mineral rights, but don’t know where to start in determining their value. Where do I start?
Where are they located?
Welcome to the form , there is a lot of help here! You could please tell us were your mineral interests , state , county, or parish, or survey , section township and range ! I sure someone else will help! Good luck
Township 147 North, Range 99 West. McKenzie County, 5th P.M.
You can use a certified engineer to give you the value of the current well(s) and any future value depending upon potential left in your section. That can be expensive. Or you could list with an auction site and see what they say. Those sites also charge a fee. Your cost basis for taxes will be the value of the minerals when they were acquired. The potential capital gains will be the difference between the sale price and the cost basis.
Are you currently leased or in a producing unit? I don’t see a ton of production in that block but depending on what section you are in, your potential value can vary.
Non-producing minerals are not a high interest product in the market today. If you do not need to sell, I would suggest waiting at least until there are significant increases in oil and gas prices.