My sister and I have inherited minerals in 18 counties in N Dakota, one in Colorado and one in Nebraska. Our interest is small and varies across counties and acres vary greatly. We have sold our tracts in Williams but still have many more in Divide, Mercer, Ward, McHenry, Burke, Montrael, Morton, Emmins, McClean, Oliver, Grant, Slope, Renville, Sully, and phillips Colorado and Thomas , Nebraska. that we want to sell. We need some help understanding how to determine their worth and value so we know if the offers we are getting are fair or not.
For example, we have 1280 acres in Sully, but in another (1) of (3) tracts of Mercer, we have 160 ac in tract 1.
Can anyone help me understand how to calculate this?
Thanks!
I hope what you sold in Williams didn't already have wells on it and that you got a reasonable price, I won't say fair because a fair price for mineral acres in my opinion is between a good price and a poor one. If you can give a township range and section for the ND acres I can look and see if there is any production nearby. The Mountrail acres could be your best if they are in a decent part of the county. If your Williams acres are already sold to someone who was offered the rest of your minerals, they probably just cherry picked the best at what they considered an extremely attractive price. I would say that if you want to solicit offers that you should list the legal descriptions inder listings on the home page.
Things are really popping for me at the moment but I can probably steal an hour to look at and tell you something about your acres but it will be after a considerable nap.
Beverly:
In my opinion, you or someone you assign, is in for a lot of research in regards to setting a value on your minerals. I would first do some research in regards to any wells (drilled, being drilled or permitted) in the immediate proximity of your mineral areas. This will make have a major influenced in setting a value for your minerals. Make notes on the production figures of wells which are producing taking into consideration the decline curve on wells in your areas. Research any past or current seismic tests in your mineral areas. If possible, locate other nearby mineral owners and learn what type bonuses was negotiated in order to place a value on your mineral area. These are my suggestions as a starting point in the determination of the value for your minerals.
I have my typed up list saved on my iPad as an attachment to an email. How can I upload this to you?
T
thank you!
charles s mallory said:
Beverly:
In my opinion, you or someone you assign, is in for a lot of research in regards to setting a value on your minerals. I would first do some research in regards to any wells (drilled, being drilled or permitted) in the immediate proximity of your mineral areas. This will make have a major influenced in setting a value for your minerals. Make notes on the production figures of wells which are producing taking into consideration the decline curve on wells in your areas. Research any past or current seismic tests in your mineral areas. If possible, locate other nearby mineral owners and learn what type bonuses was negotiated in order to place a value on your mineral area. These are my suggestions as a starting point in the determination of the value for your minerals.
Unfortunately we have no way of knowing if the price was fair or not, but in Williams, we had one well, but knew nothing about it until we had a check. But all that is water under of the bridge.
r w kennedy said:
I hope what you sold in Williams didn’t already have wells on it and that you got a reasonable price, I won’t say fair because a fair price for mineral acres in my opinion is between a good price and a poor one. If you can give a township range and section for the ND acres I can look and see if there is any production nearby. The Mountrail acres could be your best if they are in a decent part of the county. If your Williams acres are already sold to someone who was offered the rest of your minerals, they probably just cherry picked the best at what they considered an extremely attractive price. I would say that if you want to solicit offers that you should list the legal descriptions inder listings on the home page.
Things are really popping for me at the moment but I can probably steal an hour to look at and tell you something about your acres but it will be after a considerable nap.
Beverly:
If you want to "friend" me, you can send these via this method.
Yes Beverly, Williams county acres are water under the bridge. I do wish you well and from looking at your other posts some of your interests are almost vanishingly small but an interest is still an interest. If you have an interest that is a tiny fraction of an acre, you may be better off selling it on e-bay with a quit claim as a novelty rather than just throw it in for free with the sale of something more substantial that you are selling. You could even hold more than 1 ebay auction if you are only quitclaiming 1/2, 1/3, --1/10th of your interest. It's been done before. I am going to send you a PM with my e-mail because if you are going to monetize small assets you may need to think outside the box.
Beverly Rinehart Voris said:
Unfortunately we have no way of knowing if the price was fair or not, but in Williams, we had one well, but knew nothing about it until we had a check. But all that is water under of the bridge.
r w kennedy said:
I hope what you sold in Williams didn't already have wells on it and that you got a reasonable price, I won't say fair because a fair price for mineral acres in my opinion is between a good price and a poor one. If you can give a township range and section for the ND acres I can look and see if there is any production nearby. The Mountrail acres could be your best if they are in a decent part of the county. If your Williams acres are already sold to someone who was offered the rest of your minerals, they probably just cherry picked the best at what they considered an extremely attractive price. I would say that if you want to solicit offers that you should list the legal descriptions inder listings on the home page.
Things are really popping for me at the moment but I can probably steal an hour to look at and tell you something about your acres but it will be after a considerable nap.