Hello, I own some mineral rights in Western North Dakota and need to have them appraised. Can anyone suggest reputable appraisers or where I may be able to locate someone?
Thank you,
Rochelle
Rochelle:
I can give you a contact if you want to friend me.
Rochelle, I have been in the process of having mineral rights value "estimated" From what I have learned, because it is nearly impossible to predict if mineral acres will produce and for how long appraisals are difficult. If your mineral rights are leased, one method to estimate their value is taking the bonus amount and multiplying it by 3. Houck Energy Resources hold some of our leases. Russ Houck is a very nice guy and has produced a letter stating the value of our mineral rights. I also spoke to a guy at Forth Worth yesterday. He also offered to provide documentation as to the value of the acres. In the end, how exact you want to get depends on your reasons for assessing the value of your mineral rights. Tom
Tom,
How about in the IRS eyes of placing value on an Estate?
Sorry Rick that question is way beyond my knowlege.
Rochelle,
Mineral appraisals can be a complicated exercise and must take into account size, limits, exploration, and production for accuracy. In your area, potential value is another consideration and includes lease ability, value of existing leases, potential title concerns and projected geology absent close-by exploration and minerals other than oil and gas. At the heart of any appraisal is the legal reason for obtaining one as those specific questions must be dealt with and answered by the appraiser. "Friend" me and let me know some of the answers above and I will give you several recommendations if there is a "fit" between their talents and your needs.
Thank you all for your input. I am inquiring about this in consideration of selling some of these rights and just want to determine a fair price as I will likely be selling to family members. I have some mineral rights that are already producing, some that have been recently leased and some that are still not leased. Just trying to get my head around all of this is proving to be a task!
Rochelle,
I understand if your set on selling your minerals to your family but even if one is qualified to do mineral appraisals, no appraisal can match competitive bidding. If your open to offers let me know as I'd like to make an offer. I purchase mineral rights in North Dakota, Colorado, Oklahoma and most other states. If anything my offer to buy can give you a range that may help substantiate anyone who may give you their so called appraisal.
Minerals Rights Buyer.