I own 1/14 mineral interest in 320 acres in Township 16S Range 37E, the SW 1/4 of Section 10 and SE 1/4 of Section 22. I have received an offer of $10,000 total for the mineral rights. Is this a fair offer?? I’d like to sell, but it is not an emergency to do so now. Any help would be appreciated!!
Please let us know what state and county the minerals are located in. It’s possible that other members of the forum have sold minerals in this area and can tell you what they got for them. If you cannot find out what others in the vicinity of your minerals have sold their minerals for, the only other way to tell if this price is fair is to have an appraisal done. Most oil and gas attorneys can do an informal appraisal for you.
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I’m sorry I left that out!! Way too much stress right now! This is in Lea County, NM. Thank you for your reply!
Depending upon where you are in Lea County, it has excellent reservoirs. Many offers to buy start low. They want something you have and they know more than most mineral owners. You need to get more informed about what you have, the likelihood of drilling, etc. Look at the Lea County Topic area. There are some good folks on the forum that post there.
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