We have just received an offer for our mineral rights we have inherited in section 11. I'm trying to figure out what a fair price would be before selling. Any ideas?
I’m not the expert, but they will need your township and range to give you an idea. Don’t sell until you have a better idea. They love to take advantage of those not in the “know”…
So you need section, township and range…
Section 11,Township 2 North, Range 4 West. Thanks. Yes, I grew concerned when I talked with a first cousin who had received multiple offers, and I have received one.
Considering how many wells you may potentially have, am not surprised by the offers. Are you getting paid for them? Selling may not be a good idea.
Friend me if you want to talk through it and ask questions. (Blue icon on the left)
Kim,
They will use several factors in determining what your minerals are worth. They will look at if they are held by production, unleased minerals or leased minerals. They will look at the production history in your area as well as the activity of operators. If your minerals are producing they will request copies of your check detail stubs for a certain period of time to determine how they will calculate your offer. So there are several different factors. Myself, I would hang onto them if you are not in need of quick cash. Once the market picks back up your minerals will be worth even more.
I have minerals in 14, 23, & 24 of 1N-4W. I was wondering the same thing as you and decided to test the market by selling just one acre on an auction site about 6 months. I received $5,100 per acre. I would guess that yours should go for something substantially north of that. I would advise just selling 1 acre on an auction site and see what a real market price for your minerals looks like.
Any news on section 16-2s-4w Stephens county?