HI i have 4 acres of oil and mineral rights in colorado, how can i find an honest person to help me to find out how much i should sell them for, they are being leased its been 2 yrs but i am having a huge hardship
Hi! There are a couple of ways you can go about getting the value of your minerals. There are a few websites out there that provide valuations for a fee or you can hire an engineer or consultant to do it for you. In any case, it usually costs around $400-$800 to have this done but could save you thousands as you can use this information to help negotiate the best price with a potential buyer.
The value of minerals will vary greatly on many factors but really boils down to location. If you are nearby recent activity then you are likely to demand a higher price than if you are in a remote area with no activity in the past few years. The value will also depend on the lease royalty rate (assuming your lease is still under the primary term). All of these things factor in to what the buyer would expect to see as a return on their investment.
To get a feel for the bid prices for minerals right now I would go to the county message board where you own minerals and ask others if they have gotten any offers and if so what the amount was (e.g. how many $/Net Mineral Acres). This will give you a feel for the low-end of the price range but of course the best way is to have a valuation performed by a professional. Also, realize that the sales process is a business negotiation so all terms are negotiable (closing date, price, closing details,etc.).
Best Regards, Matt Sands
omg I want to thank you so much for responding, great info, SO now I have the issue of I have a deed that states that any of my deceased fathers assets, he was a MGST got a purple heart, I am only child, it states that his life insurance, or any assets will get halved between his new wife and me, but I never heard about any benefits, insurance, vets, social security, then what about if he owned a house or car? The new wife was always trying get all oil rights. SO my grandpa left rights to some others and me, there was 160 acres in colorado with me owning half so 80 acres, so im leasing them to Highland but my grandpa was a geologist, and his name is on the broomfield taxes i owe, but he passed many years ago, and his wife passed , and his daughter passed, so I would be the next of kin, and Matt I looked and he has mineral in cheyenne, texas, and who knows where else, but im focusing on the 80 acres i am selling in colorado, the other 80 was william wheeler my grandpa part owner , can i sell any portion he has, if im on deed and others , how do i get our halved portions in just my name, i dont have death certificate, i dont want to sell my portion, and have to do things all over again if i am eligible to sell his portion. I just have no money to fix all this. I am in a huge hardship right now the minerals are for sale with landgate, do you think they might sell if I lowered price sooner than if i did not? IM 54 Matt, in a huge hardship, almost losing my car, I lost my mom, dad , step dad, 2 brothers, husband of 34 yrs and best friend of 30 yrs, its been tough, i worked all my life but am not working and have gotten myself way behind. Then I dont even know my dads assets , I know there has to be things out there i should of gotten or if he had minerals elsewhere, those really would be all my assets, wife passed im only child but i just dont have time to figure it all out i have to find a job. I worked for Scripps health 14 yrs but cant find a job its crazy. Well thanks for listening and answering , I think your the only one who answered and thanks so much.