Value of mineral acres - Divide and Williams County - North Dakota

Sparky · 2011-08-15T00:21:52Z

I own about 160 mineral acres in 160N, 101W and 160N, 102W of Divide County, North Dakota and also acres in 159N96W and 159N97W of Williams County, North Dakota. I am NOT interested in selling them. I would however like to establish some kind of value just for my own net worth statement. I'm at a loss as to how to value them. In Divide County there are no wells on this property but drilling activity is getting closer and the closest producer is about 2 1/2 miles away. In Williams County there are two producing wells that are producing about 150 barrels per day on average. As for a ballpark value, I was recently told to use about 4 times the going lease rate in the area. Does anyone have any suggestions short of paying for a formal appraisal?

General Mineral Rights Discussion