Can anyone help provide some advice? My mother has 40 acres spread across 19, 30 and some of 31. She is getting offers and we dont know… 1. How to value it and 2. How can we determine if activity is about to start? Thanks
You need to give the rest of location with township and range. There are many sections 19, 30, 31s.
In general, the offers come before the bit, so hanging may be the wisest. If you give the complete location, we may be able to add more information to help with the decision.
Thanks for the quick reply! Here is more info i have: Section 19-13N-20W:
Lots 1, 2, 3, 4, NE/4 NW/4, NW/4 NE/4, E/2 NE/4, E/2 SE/4, SW/4 SE/4 and the SE/4 SW/4
Section 30-13N-20W:
Lots 1, 2, 3, 4, E/2 NW/4, E/2 SW/4 and the W/2 E2
Section 31-13N-20W:
Lot 1, NE/4 NW/4, N/2 NE/4
At the moment, there are old vertical wells in those sections. However, there are a few new permits nearby for horizontal wells. If there is no real reason to sell, then might be good to hang on and see what develops in the next couple of months to years.
Thanks so much. Do you know where i can look up the information on the permits? any way in which we might value the minerals?
Don’t forget to consider the tax implications. Your mother may be facing capital gains taxes from the sale. Visit with a CPA for guidance.
This post is not legal, tax or investment advice. Reading or responding to this post does not create an attorney/client relationship.
You can find the permits on the OCC well records site. STR_ERROR_PAGE_TITLE
They are listed by surface location. Form 1000 is the permit. 1001A is spud, 1002A is completion.