Advice on offer to sell mineral rights

I have been presented with an offer to sell some mineral rights in the 7N-61W area. I’m not sure what the value of them is and what a good offer would be. Can anyone help me with any information on the value of the mineral rights in that area and/or what a good offer would be?

All depends. How many acres? What are they leased at(royalty wise). Are you in primary term of your lease? If so- is there an extension and at what price? What section of 7-61? Are there permits on your section? Etc. we need so more info to be able to give you a good idea of what they may be worth

Thank you for your response. There is about 120 acres total in section 8 and 14. I know that section 8 has a producing well on it, but the royalties have been minimal. Section 14 is leased at an 18.75% royalty. It’s a five year lease with a five year option. It was signed back in 2016. There currently are no permits that I know of, but permitting is being done very close to them.

I would expect the offer to be somewhere in the 1000s. I don’t see if being over 2000 with no permits and that long of a lease. The leasing in 7-60 and 7-61, last I checked, bison was offering in the $200-$350 per acre range. But that is also only on certain sections, they aren’t even interested in some. I heard those townships are kind of splotchy. Hope this helps

Thank you Cole! This is definitely very helpful. I thought this was about the value of the mineral rights, so it is nice to have some sort of confirmation of it. I appreciate you taking the time to help me.

I also have minerals in T07N-R61W, Sec 13 - but have received NO offers to sell - Mine is leased to Bison for 3 years @ 20% - I only have 8 Net in a 160