Does anyone know of any activity in SW/4 of section 34, T 24 N, Range 25 W? Also what would be a good price if someone wanted to sell their minerals?
Carol, it is quiet in that area and has been for a long time. The big hits in Ellis County have been way down in Southern Ellis County, 20-30 miles South or so. We have some mineral acres North of you and West of you with old barely producing gas wells.
How many acres of minerals do you have there ?
Thank you for your reply. It is about 160 acres.
For anyone interested dozens of mineral deeds are filed in the Oklahoma courthouses
Many are paper shuffling between family members but a significant number are individuals selling to small royalty companies. In any of these counties certain players provide the following information
The buyer and seller and a legal description. Then NET MINERAL ACRES. And deed stamps. What are deed stamps? To file a deed be it land or minerals, deed stamps (aka revenue or documentary stamps) are affixed at $1.50 per $1000 of the transaction.
Armed with a deed that provides the NET MINERAL ACRES, and deed stamps, you calculate the price of the minerals as follows. Say the deed stamps are $45 and there are 15 NET MINERAL ACRES. The $45 divided by $1.50 = $30 x 1,000 = $30,000 and that divided by 15 is $2,000 per acre. Be it 2 acres or 200, the unit price does not vary by size. Royalty buyers buy up small interests and bundle them to larger royalty companies, often for 10 -20% over what they gave for them. These "flips" are very common.
You can get a copy of the deed at the courthouse. There are some counties free on line (Canadian and Payne come to mind) and a couple are not on line even for a price...Garfield I believe requires you to actually go to Enid. On line can be accessed for a fee - at https://okcountyrecords.com/
I have no interest in the company but I do use their data as they are about the only game in town and for me, driving a couple hundred miles is far more expensive that the ½ to a buck per page view they allow.
Finding a few recent sales in the county likely will give you an idea - and you find that some people are lowballing with less than $1000/acre for minerals and some properties are selling for $2,000 - 3,000. I checked Ellis county today and for the date interested (about June-November of last year, there were 92 sales and I managed to get six or so that gave me all I needed to know.