What is the going rate per mineral right acre(s)?

Oklahoma Mineral Rights Payne County, OK
1

Through a will, I was given Section 11-Township 18 North-Range 1 East (S2 NW/4) AND Section 12-Township 18 North-Range 1 East (S2 NE/4)

I live in Florida and I have no idea what these property rights are worth. Some have contacted me wanting to purchase them, but I don't know what a good deal looks like, and what being taken for a fool looks like either.

What's the going rate per acre that should be a fair price? In real estate you can check prices through various websites to compare what your house is worth. Is there any such website that does the same as with mineral rights?

2

Here is a pooling order for section 12 . There is a Allaire listed #60

http://imaging.occeweb.com/AP/Orders/occ5052063.pdf

3

It looks like your lease on section 11 with Chesapeake was up in April .

4

Robert, You can lease your mineral rights instead of selling. Being that the current drilling development is still in the early stages most mineral owners are not selling their minerals. Oil and gas companies are reporting successful results and are announcing that many more wells are to be drilled. I advise taking some time to do some research and call the Oklahoma Corporation Commission (OCC) Information Department at 405-521-2613. Tell them you are an out of state mineral owner and need all the OCC information concerning your mineral rights. Tell them where your mineral are located and they will access most of this information for you at no cost and they will walk you through online access of the OCC databases. This forum has a Mineral Help section that contains must reads here - http://www.mineralweb.com/ Also, The Oklahoma Chapter National Royalty Owners Association has online literature and you can call them at 918-794-1660 or 1-800-558-0557.

5

Robert, Below are recent OCC reports of some good wells in your area. My family has not leased in Payne Co for less than $250 per mineral acre with 1/4 royalty interest for a 3 year lease that contains no option to renew the lease. Of course, we always try to get more.

http://imaging.occeweb.com/OG/Well%20Records/1DD1C564.pdf

http://imaging.occeweb.com/OG/Well%20Records/1DD1AB2E.pdf

http://imaging.occeweb.com/OG/Well%20Records/1DD20D7C.pdf