Can anyone tell me of known activity in (around) Sec. 10-16N-13W and what a fair sale price would be for minerals in this location?
There are horizontal wells all around you. Paloma pooled that section last April, but has not spud a well yet. I am sure you are getting offers, but if you have heirs, you might want to hang onto it. There is likely to be a lot of wells there someday.
Thank you for the information! My 83 year old brother is considering an offer to sell his minerals in this location and my siblings and I (who inherited our interests in this section along with him) want to exercise our option to buy his interests if he does sell, but not sure what is a fair price. Any suggestions?
The highest that I have heard in the township is $16,000 per acre.
He may incur a large tax liability if he sells to anyone due to capital gains, state taxes, etc. If he wills it to all of you, then you will get the "step up" in value and any sales later (if ever) will have much lower taxes. It would be wise to consult a knowledgeable estate attorney and accountant about the best way to do this.
In 10-16N-12W minerals were sold for over $20,000 and a offer to made to buy more for substantially higher. It is a very hot area.