If anyone has used Mineral IQ +, would you describe your experience please?
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Hello,
I use it for two primary reasons.
(a) I download the excel file with the wells in it. I recently purchased Pop’s, and I’ve created a python script that takes the mineralIQ excel file and puts it into a Pop’s import format. This is a one time effort; but I gather some folks may have use for having their wells in a spreadsheet for other reasons. (b) I use the mapping. It’s only available on a section level (not smaller), so not perfect. I use this so I can make sure that all acreage that has a well on it is in pay.
IQ+ does some other stuff as well in terms of economics and valuation; but I’m not sure what I think about that. in my case (or my father’s to be more specific…); the valuation reflects 5.5X CF. Given how mature and close to end of life my father’s wells are, this seems high. I doubt we could get more than 3x CF were he to sell. I’d take their valuation as a starting point; but I wouldn’t make any buy / sell decisions with the information.
my 2 cents. happy to answer any questions.
David
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Interesting to know this
How much is it? Is it a monthly charge or yearly? I wish they would let you see the price instead of asking you to fill out a contact form for them to reach out to you. Also, looks like they moved some of the stuff that was in their free tier behind the paywall of their + tier.
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You are exactly right. I just looked at my MineraliQ and it looks entirely different now; i.e., just like you said some of the features that I used to see for free are gone, and they are moved to MineraliQ+ for a fee!
Rig data is subscription based also. And worth it
Price varies on your acreage, royalty income or some other formula. Its billed per month based on an annual contract. For us with ~6K mineral acres & ~133 deeds but only 18 producing wells, MineralIQ+ is maybe $12/month.
Entering data is simple, but not possible to automate currently: no bulk import. I’ve found a few Township, Range, Section values that are legal but that their software won’t allow entering, and their support hasn’t returned any emails on that.
I joined to add my (unproductive) land, but having done that the reports/research one can do is quite limited: mainly viewing them on the map, so I’m thinking of cancelling.
The only fields you can enter for each piece of land:
- Map
- Lease Name
- State
- County
- Township
- Range
- Section
- Block
- Abstract
- Lessor
- Lease Start Date
- Lease End Date
- Lease Term Length (months)
- Royalty Rate (%)
- Notes
Hopefully they add more features going forward.
We’re looking to sell our properties, so it has been helpful to get an overview of our lands/wells and to get reports of activity nearby. I certainly recommend MineralIQ Free version! The + version depends on your needs.
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