How to determine a price to sell mineral rights.
That is a somewhat complicated question. The general answer is “the amount a willing buyer will pay a willing seller, with the properties or interest being for sale for a reasonable period of time, neither the buyer nor the seller being under a compulsion to buy or sell, both being competent and having reasonable knowledge of the facts.”
That being said, it is harder for mineral owners to have reasonable knowledge of the facts. You can get a licensed petroleum engineer to give you a “fair market value” of your mineral rights as they stand today, but that is according to their standard rules. It may not take into account the future drilling that may occur. You can get several offers and decide it you like any of them. You might post on the forum your township and range and see if anyone can comment on your particular area. There has been a healthy discussion on the forum regarding this topic over in the Grady county area on the pros and cons, etc.
M_Barnes, I wanted to take the time to thank you for your many thorough replies. They are always educational and often have tidbits of knowledge that even folks who aren’t novices may not know and can use. I think I speak for many others when I say you are a real asset to the forum.
Thank you. You are very kind. A lot of folks have taught me a lot along my career, so trying to pay some of that back now.