We have mineral rights in Garvin County OK. Which appears to be an active area. Should we sell or lease? It’s aprox 48 acres in different sections and the largest section seems inactive. Thanks
Do you have an opportunity to lease or is it relatively hypothetical at this point? As to the general question, it differs or should differ from person to person. Things to think about or consider include, but are not limited to:
- do you need the money or just want the money? There is a difference.
- Can you use the money for something else?
- Are there outstanding issues to consider? Medical bills, children’s or grandchildren’s college needs?
- If you keep the interest, will your children take care of this? Or will it be ignored and end up being abandoned.
There are people on this site who say never sell. But, 1) they aren’t in your shoes or position in life, and 2) people will sell the house where they raised their children, but somehow these minerals they inherited from parents or grandparents are sentimental.
I am one of those never sell types. Of course, some people have emergencies and must sell, but if it is just a business decision I would never sell a royalty interest. Working interest are different. But some royalty interest can become life changing with new drilling technologies. If you don’t have a critical need for immediate money, just hold it and give luck a chance.