Hello all, this is my first post here in the MRF. A few years ago, I inherited just the mineral rights from my father which are located in Yellowstone County, Montana. I am now interested in selling them, but do not know what is happening in the area where my mineral rights are located or how to find out. I also do not know how to go about selling them. Can you give me some guidance about what my first few steps and research should be in this regard? Thanks you in advance for any insights you have for me.
Do you have the legal description for the property? If so, I can probably look to see the general activity in the area. Selling the minerals can be a relatively easy process–you just want to make sure you are getting the best deal you can. If you would like, I can reach out to some landmen I know up there to see what the going rates are and who the main purchasers are. Best of luck!
Hi Jimmy, Thank-you for your response. Yes, I do have a legal description for the property as follows:
Township 4 North, Range 33 East, M.P.M. Section 13: All
Township 4 North, Range 34 East, M.P.M. Section 17: S½SW¼, NW¼SW¼ Section 18: SE¼, E½SW¼, Lots 3 and 4 Section 19: E½NE¼, W½NE¼, E½NW¼, Lots 1 and 2 Section 20: W½NW¼, NE¼NW¼, W½NE¼, SE¼NW¼, NE¼SW¼
Yes, I would appreciate it if you can reach out to some landmen regarding the going rates and main purchasers. Thank-you.
It doesn’t look there is much activity in the area. You can see a map below that shows a plugged and abandoned dry hole in Section 27 of 4N 33E.
I inherited property with an extention lease and was curious to how to negotiate a new lease or if im stuck with this deal as long as im getting checks. Also the value of the property and trustworthy auctions. Roosevelt county township 29 North, Range 58 East section 19 section 30 and section 7 some say 1/6th and some say 3/16th on the lease, thank you.
If you have a current lease and are getting royalties, then you are stuck with that lease.
I cannot comment on the value.