My family inherited mineral rights in Laramie County, WY. This week, my uncle was approached by someone to sign papers in connection with drilling in Laramie County. My mother will also have to sign as well. How do I know if we are getting the best price for the family's mineral rights?
Years ago, (~60 years) there were active wells on the land but pumping had to stop as the oil became too thick. Is thick oil still a problem to pump?
Does anyone if there is any drilling activity in Sections 2 and 34 in Laramie County?
Hi Ted,
Thank you for your reply.
The area of our mineral rights include location, Laramie County WY:
Township 12 N, Range 60 W of the 6th PM, SW 1/4th Section 2
Township 13 N, Range 60 W of the 6th PM, all of Section 34
Does this help?
Randi
Ted Preston said:
Randy,
You’ll have to give us more information: the township and range numbers as well as the section. There are LOTS of sections 2 and 34 in Laramie County.
The current interest in drilling around southern Wyoming is targeting a formation that has not been produced much in the past. Since they likely drilled into a different formation last time, the character of the oil in the other formation is not much of a concern.
Figuring out whether a lease offer is fair is a bit of a fools game, but there are some methods available to figure out whether your land is in one of the leasing “hot spots.” I’m a lawyer in Wyoming, and I’ve been keeping track of what my clients have been offered and/or paid for their leases, and I have also tracked the prices paid in the auctions of leases for minerals owned by the state. I’d be happy to talk with you. You can reach me at (307) 742-7896.