With oil prices up and the Iran war not showing any sign of ending anytime soon, has there been any buying increase in mineral rights?
Ehhhhh, it seems to me the pricing has just caused a bigger buyer/seller gap…for now at least. Buyers aren’t wanting to go up as much as sellers think they should go up, etc.
But the longer they stay up the more the tunes are starting to change. Operators “considering options” for the rest of the year (“we could add another rig, but we might not…don’t hold us to it yet”). Initially there was zero change to plans for most operators.
Most royalty owners will see the most increase if their minerals are producing and they’re directly benefiting from the higher prices, or if an operator put in motion some plans to drill on or around their acreage (which would directly increase the offers they’ll receive).
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I’VE been contacted by a company making offers for mineral rights. Has anybody else been contacted in the last week? I’m in Duchesne County, Utah.
Yes, I have been contacted too. Twice by the same outfit within a 2 week span. They really want my rights. I’ve yet to reply. Reason being, I’m a new owner/heir. Fractional only. Haven’t even received my owner id yet from Crescent energy. I own rights in 3 wells apparently that I had no clue ever existed. Moon(2) and
Lunar. I looked at production in my section (31) and it’s extremely good. My fractional ownership is small. I’m a 1/6th. 0.003346 nmi. Lease I agreed to was recorded in june. My bonus check was just received. Now they say they are building my file and cannot tell me my owner id yet. Whatever that means.
It can take six-eight weeks to get the run statement for the checks changed when a new royalty owner comes in. Your ancestor had their own particular Owner number, so they need to change to new ones for you and any other heirs.
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Thank you for the information. That was helpful. My lease was retroactive to January this year. Anyway, Just waiting now . Hoping I end up getting decent past royalties. I’m staying realistic. Odd thing is, I never even knew I had any relatives in Utah. But they knew who I was, tracked me down. I’m learning how these things work more each day. That’s why I’m glad I found this website.