I own mineral rights to 80 acres in this section. I am currently near the end of the first year on a 3 yr lease. I was approached by Decoy Resources to sell my rights for $2000/acre, which seems rather low considering another owner in 34&35 7N 4W was offered $6500 per acre. How does one determine the selling value of their mineral rights?
Any info would be greatly appreciated...
Rhetorical question: why do you want to sell your minerals? Possible reasons are:
Don’t want to run the risk of never receiving income from the property.
Urgent need for cash.
No heirs that you care about.
I don't necessarily want to sell. But since I have been approached to sell, I would like to know the value of my mineral interests. If I am given a reasonable offer, I will consider it.
7N-4W is much much “hotter” than 7N-3W. Probably the reason for the large difference in price per acre.
Yes, true. I did some research & determined that as well, thanks.
G Goodwin,
My company, Mason Oaks Energy have been purchasing throughout 6N-3W and 7N-3W and that is close to what we are purchasing for. Maybe a bit less than us, it just all depends what royalty you were leased on. If interested, you may message me for my contact info and can discuss more.
-Tim