Any idea what the going rate to sell minerals in the following areas of Howard County:
Any activities heading that direction?
Section 11 – 2.13 acres – This is held by production
Section 25 – 2.33 acres – This is held by production
Section 28 – 2.66 acres – This is held by production
Section 29 – 1.33 acres – This is held by production
Section 31 – 2.66 acres – This is held by production
Section 38 – 2.66 acres – No production on this section; might be on a different lease or combined which is that’s the case it would be held by whatever production is holding adjacent tract.
A lot depends on the royalty rate, operator and block/township of these minerals. Hope that makes sense. Good news is you are in a sellers market so you are able to command a pretty penny. Congrats!
Do you know the Block/Township? That is vital information to determine valuations. Also, like Geoff said, it depends directly on the royalty rate your lease provides for. If you are leased at 12.5%, then your valuation would be 1/2 of someone who is leased at 25% in the same tract.