So these have been in my family for a while. My father passed away this year and I had the paperwork to get the deed transferred to me. I know there is one well thats been going off and on since it looks like 1981 and nothing else. What are my options to make money with this? How can I get them evaluated for sale or lease to do something with them instead of the occasional 100 check? This is all very new to me and honestly, id rather just sale them than have to worry about the taxes each year. what advice if any is there? Like mentioned, how do I turn this into money either a better re-occuring profit or just sell? I appreciate the help and if theres any other questions, please let me know! Thanks!
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Those sections mostly have only a handful of plugged and abandoned wells. The geology of that area is not likely going to be of interest to anyone to lease. Even in good areas, they come to you with a planned prospect. The portion that is still tied to the producing well is not available to lease, either. So, you can continue receiving royalties or sell. To sell, you can expect to get 3-5x what the annual revenue is.
If your name and address and title information are properly filed in the county, leasing agents will come to you. The closest permits are in 29/32 5N-6W and going into into 5-4N-6W about six miles to the east. Gulfport is the operator