We live in tarrant county. We signed a lease back in 08 but never got any royalties. I was interested in just selling our mineral rights. I contaced a few places, but only one responded. He said that most places are only paying anywhere from $1 per acre up to $200. If that’s the case, we’ll get $29. Is it worth selling for less than $50. Is there a difference between leasing your minerals?
I’d say it was worth keeping, if for no other reasons than you could lease it again and it increases the value of the property if only slightly should you ever sell. I think sometimes you can get $100 for a really small lease because it would cost more for the agents time to negotiate a lease for less. If you got the median price quoted, what would you do with the $14.50 ?
We’ll probably just hold onto it. Will they actually go to the trouble just write you a check for $14.50? I could make more collecting cans. When we signed back in 08, our sign on bonus was $2175. I’m not even sure if they drilled anything in our area.
Ms. Dean, you did well to get that much in 08. I had a friend who got $5200 bonus for leasing his house lot in 08. His neighbors held out, the bottom fell out of gas prices and they didn’t get to lease their properties. I’m sure they would write you a check for the $14.50 and pay double or more to record it. If there is something there to produce it will be produced eventually. Keeping it is best, I think. If someone starts to drill a well in the future you could always sell it then, likely for more money than you could right now. The future operator would probably save money not having to keep track of your small interest.
I know we were lucky to get what we got back in 08. Most of our neighbors didn’t sign one because they were hoping to get more. From what I’ve read, only 75 people signed leases with the company we did. They used to have an office right up the street, but not sure if they are still in business. What happens if that’s the case?