I am the 3rd generation to own mineral rights to several sections of township 18 range 54 and 55 east in Dawson County. I only own 1.5% to 3.1% in each section. We have an offer for a 5 year lease on 5 of the sections. I was also thinking of selling my mineral rights. What is the going value of leasing and what are people getting for selling their mineral rights?
Hi Tom! Congrats on the offer.
I am in a similar position as my family owns the rights to approx 3000 acres in Dawson county. I own about the same percentage as you. We last received an offer several years ago during a bit of an upswing in the oil industry up there. We unfortunately passed on the offer because it was a little low and thought we should hold out for a better offer. This was after we accepted a previous offer in 2008 for 5 years that never resulted in actual drilling. I want to say that we were offered a lease for part of the 3000 acres and it was somewhere in the neighborhood of 15% royalties with maybe 100-250$ an acre up front. It was decent in retrospect and we should have taken it considering that a bird in hand is worth two in the bush. Good luck with your guys’ offer! I would definitely like to hear about your family’s offer and anything else you’ve heard from that area.