I was recently contacted to purchase my mineral rights in duchesne county and was told the going rate is $500/acre. Is there a way to get info regarding actual value in duchesne county or has anyone sold their rights recently that can give me direction?
That is an inaccurate estimate for most of the county. Giving this community the township and range where the property is located will help with an estimate.
Can you provide more detailed information such as Township, Range, Section, how many acres are in question?
It is located in Sec 004 Township 004S Range 003W.
Lance, I am not a landman nor an expert in this field but I have done some research of my own and also been given some recent valuations for minerals in that general area. In my opinion the offer presented to you is very low- to lease or buy the acreage. Depending upon the amount of acreage you sell, I think you could expect $3K to 4K/acre. If leasing, you might get about $1500/acre- but then you keep the rights. There are a lot of factors at play in this: Total acres, level of interest by the operator, geology, accessibility, production in adjacent sections, etc.
As I mentioned, I am not an expert-so do your research, go slow, and ask lots of questions until you understand the details. You are in the drivers seat!