I have inherited mIneral rights and royalties and I want to sell them. How do I go about doing that? Thank you. Beth
What State and counties do you own mineral rights in?
Stevens County KS
I only have experience in OK where I am currently selling my mineral rights but KS is probably similar. You can post on this forum to ask others what things are selling for in the area of your minerals but don't expect many replies, I've found that people don't want to share that info. You can check for mineral buyers online as there are many companies buying. That should get you some offers but, of course, unless the company is large (there are many buyers that no one has ever heard of) you can't be sure they are honest. Then if you can get a general idea of what your minerals may be worth (most offers will be much lower than the true value), get a landman to work for you. You can find a list of landmen on this forum. Go to the pull down tab at the top "MEMBERS" pull down and click on "LANDMEN" and find someone working in your area. Be sure the person is knowledgeable and experienced, if they are members of AAPL (professional landmen) is a good sign. You're going to have to give him/her some info on your minerals and a good landman can shop your minerals around and probably get you some better offers from some reliable buyers. Good landmen do not come cheap so be sure you get some kind of quote and explanation of the work first. As most will tell you do not sign any contracts with buyers until you have something acceptable and you have a way of being sure you'll get paid (like an escrow of some sort), a landman can help you with all of that. Hope that helps. Plus, there are many oil professionals on this forum with a lot more experience and knowledge than I have and they may also reply to your post.
Thank you so much. I now know where to start.
Try to get several bids before you sell
Yes. Thanks.
Beth,
To add to what others have said, also considering hiring someone to provide a valuation of your minerals (especially if there aren't many nearby comparable sales) so that you can evaluate the offers against a range of possible values based on calculated oil and gas reserves. That way you will have a basis to decide if the offer is in the ballpark or not.