_has there been any activity in 10-17N-1W? I am contemplating selling my interest in 26 acres
Recent leasing has been mostly in sections 4, 27, 28 33 and 34. One well seems to still be active in 10. McDonald #1.
The 160 acres were acquired by my great Grandfather in the Land Rush. Since 1949 my mother, Sister and myself have owned 1/2 of the Rights after my grandparents sold the property.
I, along with my Niece and Nepbew are the surviving rights owners.
I will be 84 in June and not in the best of health. I feel that for the last 70 years with really no positive drilling results it is in my best interest sell my interest. The $$ would provide me a more comfortable rest of my life.
What do you think I could realize from selling them now? Thanks
By posting here, you may get some offers although they are not supposed to solicit. I would suggest trying to get at least three different ones. This area is not as active right now due to water disposal issues and some earthquake activity related to the disposal. I do not know what any offers may be. We have acreage near there, but I haven’t had any offers for a while. If you sell, you may have some capital gains tax, so be aware as no offer I have ever received has mentioned that little tidbit.
Janice, inactive areas tend to have no or low offers. You may be facing capital gains taxes on the difference between the value at the date of inheritance and sale. (Different rules if you were gifted the property by a living person).
-If you sell, make sure that you protect yourself by not delivering anything until the money is in your hands or the hands of your attorney or escrow agent. -I would also encourage you to read other posts in this site. It is replete with persons who inherited minerals that eventually paid off.
You might want to read The three legs of Mineral Ownership,