I have recently inherited a mineral right and would like an idea of its value. Can anyone suggest a range of value per acre in Township 162 North, Range 103 West and Township 163 North, Range 102 West?
Thank you
Welcome to the forum. Did the executor give you a value? Sometimes, the estate has already valued the assets for probate.
The Directories tab above has several appraisers. It would be wise to get a value as of the date of death of the ancestor. You will need it if you ever sell due to capital gains issues. Doing it years later is quite difficult. Your value will depend upon current well production and potential for future drilling.
Your section numbers are important. There are several new horizontal wells permitted in the area. Not sure if they are on your acreage or not. Those would add value.
Thank you. No value was given, unfortunately. Never considered the capital gains issue. Appreciate your insight!
If you give the full section, township and ranges, we can help you with activity and permits. If there are producing wells, you need to contact the operator and get into pay, otherwise you would lose that to a sale. Also check for unclaimed money from royalties at www.missingmoney.com.
I’ve seen letters from $1,000 to $3,000 per acre in Divide County just south of your acreage. The more north, the less valuable it is in this area, unless there is permits on it! I just got a letter from Lynx Oil Company last week, they seem to be buying in this area, and they have been pretty easy to work with in the past.
Thank you, I’ll check in with them.