Understanding mineral rights


#1

Hi trying to understand my mineral rights. My Great grandmother passed them down through thr family.

I have always been told never sell your mineral rights but recently I have been contacted with an offer that surprised me initially. So I felt it was time to get a better understanding of what I have.

In reading through the posts here i have noticed the terms gross mineral acres and net mineral acres what is the difference?

What would be a reasonanle per acre price for the mineral rights? I understand that some of that depends on the exact location but I dont have my paperwork handy.

Thanks for your help in advance.


#2

Gross mineral acres is the tract you own part or all of, such as 40 acres or 160 acres. If you do not own 100% of those minerals (suppose you GGrandmother owned 160 acres and she passed them to 2 children equally then each would own 50% of the 160 acres or 80 net acres each). Net acres is the portion of the gross acres you own. A lot of offers are being sent out to buy minerals rights but in my opinion the offers are not near what the value of the minerals could be. You can check the drilling activity near your minerals of the WOGCC website. This can help in arriving at values, but I agree with never sell your mineral rights.