How can I learn the value of my mineral rights? I have a small amount and have received an unsolicited offer in the mail. Dawson County, Southeast corner of Section 12, in Block 35. Also Southwest Quarter of Section 7, in Block 35. The lease prices and royalties seem to all be so different. Thanks in advance for any help or advice.
Are your minerals in T4N or which township?
Yes, Township 4-North.
Are you getting offers to lease or buy or both?
Lease or buy. I don’t want to sell. Would only lease.
Has CGS not reached out to you? They have leased a lot of Dawson County
They haven’t. It was Stevens & Tull Development.
What did they offer you? I leased to CGS in 2019 in Dawson county and got $550/acre and 23%. My lease expires in a few days and they haven’t renewed so lease rates might be lower now, I’m not sure
KyleL, did CGS have just a 3 year lease or did they also have an option to renew?
It was a 3 year lease with a 2 year option. The 3 year ends on May 24th but I haven’t heard anything from them about renewing it
Very curious why they wouldn’t renew. If the minerals were attractive to them 3 years ago when oil/gas was much, much lower, why not today at $110 oil? My family and I own minerals just across the northern county line in Terry County, and we are looking for any activity. Ours is a almost 3 sections (extended family), so I hope it makes economic sense to someone.
They offered $550/acre and 20%. I was hoping since it was a random, unsolicited offer, maybe I could get more. The portion I own is a small part of an inheritance and none of us (to my knowledge) have ever done anything with it.
KyleL, please come back and let us know if CGS exercises its option. Many of us also have leases with CGS from 3 years ago with options and are curious.
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