So I have posted a few times. The mineral rights are something we have considered selling. I know it may not be the time and keeping them would lead to something better.
I am wondering if anyone has any advice?
1/4 of 1/2 of all oil, gas, and hydrocarbon substances.
The East Half of the Northeast Quarter of Section 20, Township 29 South, Range 24 East, M.D.B.M.
Portion of the North Half of the Southwest Quarter and of the South Half of the Northwest Quarter, all in section 33, Township 29 South, Range 24 East M.D.B.M
Portion of the North Half of the Southeast Quarter and South Half of the Northeast Quarter of Section 33, Township 29 South, Range 24 East, M.D.B.M
How much do you want to sell them for? Do you have them under lease? Have they ever been under lease? If so what dates? Are you on a plotted oil pool? Is there any other drilling in your section? If the answer is no, then no one will likely want to buy. The more yeses then it depends. You could try to sell them to the land owner if nothing else.
The reality is that its all a value proposition between money as a stable income with the off chance that it gets disrupted by the world price of oil and the price of money as a lump sum. Some people do not want to deal with the hassle of maintaining the ownership through taxes or someone comes to them willing to pay significantly more than they have ever seen.
It is totally up to you. Do you need the income? Do you need not need the income? If not, what is the harm in holding onto the minerals. They are a finite resource. Who knows what will come from holding on to them.
Thank you so much for the replies. We are in a financial hardship now. The rights have been leased before. I believe they did a study to see what was there but I am not sure. We would be willing to sell them to the land owner since it is a Buttonwillow Farmer. I would like to know how would I find out what a good price would be?
Last year we received an offer of $100,000 on an interest here in Texas that had never generated more than $3500 per year even when the price of oil was $100/bbl. They obviously plan on doing some horizontal drilling and fracking in the area but you better believe we took it.