Does anyone know the going prices for an acre of mineral rights in Love County Oklahoma with a history of 30 years plus production on the property?
Thanks for any advice.
Gabe - do you know the township range and section? Also the monthly royalty, if any, being received recently would help. The value of minerals can vary widely for two tracts just a couple of miles apart.
Sections, 7, 8, 16, 17, all in township 6, range 2 west. The production well on it has made 4.1 million over the 30 years for 5 family members, plus all the other royalties it made for the oil Co, and the driller, so it has been a very good well.
Right now it is producing about 3000.00 a month just to the family, so after 30 years it has dropped off.
Sounds like a very good well indeed. I should have asked already, but how many acres do you have and what well are they in?
Well is designated Margo 1-7, total 950 acres.
Mr Gabriel,
You can list your minerals for sale on this website for free in the MarketPlace. Click on "New MKT Place" in the navigation.
Producing minerals usually trade at a multiple of production depending on the expected life of your well and whether or not there is potential development in other formations.
Best of luck,
Thank you I will post there.
Gabe,
As Marcus said, since it is producing, we'd usually value it based on a multiple of production. If you'd like to forward recent revenue statements, we'd take a look to see if we are interested.
You can see our ad under the marketplace portion of the website.
Hunter
303-667-1065
Overland Minerals & Royalties.
Since posting I have learned there is a little work for me to do to get my exact percentage of the minerals I own, so it may be a while before I can post with full certainty of my assets.
I have been getting an education since posting here, since I do not do this professionally, so I have a little work to do on my part before I can go further.
But as they say…I’ll be back.