Thanks. After reading y’all’s posts and doing some research on my own, I’ve decided to hire a mineral appraiser to determine value as well as document what I’ll need for taxes. Praise the Lord my minerals are in Texas with no state income tax! I’ve read the IRS considers inherited rights a long-term capital gain.
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The Directories Tab above has mineral appraisers. Pecan Tree works Texas. Vass is more for the Appalachia area.
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thanks
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Same situation here but in ROBERTSON COUNTY. Leased with EOG / Bull Run. Will be looking to sell if no drilling before 2028
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I did cash the bonus check from Expand. I was told that the bonus check, unlike the royalties, is mine to keep, if I sell the rights. I hope to land the plane on making a final deal sometime next week.
My lease states that I have to notify Expand of whichever offer I hope to accept and give them 15 days from the date it’s received to respond. Vector told me they take care of that.
I will let everyone know how this goes.
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This is potential pitfall I just noticed. I got the name of a mineral interest appraiser from a Google search and landed on Petroleum Evaluations Group. My email got a very quick response, but I happened to notice the agent was the same person who wrote an offer to buy letter from one of the four acquisition companies that have offered to buy. Seems a conflict of interest for this person to play both roles. Be careful!
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Purely Pitiful! It stinks!
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Yes! They sure will take care of that! Run! They are fixing to probably drill in that area. Keep your minerals.
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Expand has a website. It has contact information on it for mineral owners to call their land department and Email them.
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The 15-day notice is your duty under the lease, not Vector’s, so send it yourself. Certified mail to Expand’s land department with the signed offer attached, and keep the receipt, because the clock runs from the day they get it. If a buyer sends it late or wrong, you are the one in breach, and the sale can come apart after you thought it was done. On the appraiser, good catch. Ask any appraiser in writing whether their firm buys minerals.
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Thanks. All good info!
I received the same $5k offer per NMA from Vector as well. I’ve received offers from 15+ companies over the last 18 months. They have slowed down over the last 4 months, with Vector’s coming in a couple of weeks ago.
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Did the deal with Vector to sell my rights. Retained the same O&G attorney to handle everything, including notification to the lease holder. Again, at my age and with no heirs, this made sense. Hope to close by Thanksgiving. Good luck with everything, y’all! Blessings! AND THANK YOU ALL FOR ALL THE HELP ALONG THE WAY!!
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I have an existing lease with Bull Run in Robertson County, TX. I will want to sell my mineral rights. 70 and no heirs. May I get the name of the O & G attorney you used? THank you!