My brother and I have inherited a small severed mineral interest in sec 4 T6N-R61W. Our interest is not currently leased. It was last leased in 2016. My brother wishes to sell his interest and I want to buy his interest from him but I don’t know a fair price per acre for minerals in this area. Has anyone in this area had any recent offers?
The nearest activity is in Section 6, two miles to the west where Verdad is currently drilling horizontal wells.
When was the last time you all received an offer to lease or sell? Theres no such thing as a fair price in minerals, as of now the fair price would be $0.00 since they have not been leased nor had any production in almost 10 years.
By that metric, if you build a house, it’s not worth anything until you sell it???
You gauge mineral values by comparable sales which are a proxy for that property. This usually means the most recent and proximate sale, but it can also mean a multiple of such leases as exist. More important than mere county or township, the correct metric would be comparable geology which is not always easy to know. And unlike other real estate (and minerals are real property) prices can change rapidly with price changes or nearby exploration or leasing. If you are getting letters it likely means leasing is ongoing nearby. But no offers do not render a property worthless, Some one somewhere like take the risk. And sometimes that risk doesn’t pay off for a generation or two.