Value in 2004-2005

[mjliddell]

I’m wondering if anyone had leases in place or offers to lease in 2004-2005. Trying to determine what value may be on some mineral rights back then. We inherited these mineral rights and there were no leases in place or operating wells on the property at that time. The land description is Township 4 South, Range 2 West Section 3

[M_Barnes]

You would need to narrow down to right around your acreage, so give your section, township and range. Asking for the whole county would not help you.

[mjliddell]

The land description is Township 4 South, Range 2 West Section 3

[M_Barnes]

“Not much” back then, whatever that might have been. Depends upon your purpose in asking. If you cannot prove anything or no evaluation was done at the date of death, the IRS may assume zero. Looks like you have some long horizontals coming now, so worth a lot more if they get drilled by Ovintiv now.

[mjliddell]

Thank you for your information and response!!