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Mineral Rights
#7836930
05/12/20 12:33 PM
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Joined: Oct 2013
Posts: 715
upsslim
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Joined: Oct 2013
Posts: 715 |
Anybody ever sold mineral rights ? I own some mineral rights and I got a letter from a company that wants to buy them. I've never dealt with this before. How do I determine how much they are worth ? There is one pumping well there now. Don't get money much from it. Anybody got some advice ?
East Texas Patriot Guard Rider Flag Captain
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Re: Mineral Rights
[Re: upsslim]
#7836938
05/12/20 12:46 PM
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Joined: Feb 2013
Posts: 4,693
krmitchell
Extreme Tracker
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Extreme Tracker
Joined: Feb 2013
Posts: 4,693 |
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Re: Mineral Rights
[Re: upsslim]
#7836951
05/12/20 12:58 PM
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Joined: Jan 2013
Posts: 3,428
TLew
Veteran Tracker
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Joined: Jan 2013
Posts: 3,428 |
I can give you the name of a good one that won't break the bank out of mansfield if you're interested
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Re: Mineral Rights
[Re: upsslim]
#7836954
05/12/20 01:02 PM
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Joined: Oct 2012
Posts: 25,231
Creekrunner
THF Celebrity
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Posts: 25,231 |
Don't sell. I get those letters on a weekly basis.
...and have dominion over the fish of the sea, and over the fowl of the air, and over every living thing that moveth upon the earth. Gen. 1:28
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Re: Mineral Rights
[Re: upsslim]
#7836958
05/12/20 01:09 PM
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Joined: Mar 2007
Posts: 5,225
Rustler
THF Trophy Hunter
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Joined: Mar 2007
Posts: 5,225 |
Just me, unless you're seriously hard up for money I wouldn't even consider it.
Every time I've been approached the 'buyer' already had a number in mind, or included a price range in the letter. With the recent hit to the economy and O&G as low as it is right now they're probably sniffing around to find low ball bargain buys.
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Re: Mineral Rights
[Re: Rustler]
#7836973
05/12/20 01:20 PM
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Joined: Feb 2012
Posts: 9,715
Mickey Moose
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Just me, unless you're seriously hard up for money I wouldn't even consider it.
Every time I've been approached the 'buyer' already had a number in mind, or included a price range in the letter. With the recent hit to the economy and O&G as low as it is right now they're probably sniffing around to find low ball bargain buys.
^
My botnet is bigger than yours.
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Re: Mineral Rights
[Re: upsslim]
#7836976
05/12/20 01:21 PM
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Joined: Jan 2016
Posts: 7,759
snake oil
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When we sold our Elliasville place buyer wanted half of the royalties and the Title co. worked all that out I believe.
"You may all go to hell and I will go to Texas".
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Re: Mineral Rights
[Re: upsslim]
#7836978
05/12/20 01:22 PM
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Joined: Feb 2012
Posts: 9,715
Mickey Moose
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Posts: 9,715 |
Those letters are kind of like the letters from car lots that say your vehicle is special and in high demand and we'll pay you "top dollar" for it.
Cars or oil, they're in business to make money. Not make you money.
My botnet is bigger than yours.
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Re: Mineral Rights
[Re: upsslim]
#7837007
05/12/20 01:57 PM
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Joined: Mar 2013
Posts: 5,038
jetdad
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They are bottom feeding. They're looking for people that don't know the value of what they have or that need money. They will typically offer you 3 times your monthly revenue hoping you will bite. Royalties, depending on where they are located, trade for more like 50 to 100 times monthly revenue. Just as MM states above it's like the car dealer letters you get.
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Re: Mineral Rights
[Re: upsslim]
#7837037
05/12/20 02:19 PM
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Joined: Oct 2016
Posts: 3,413
JimBridger
Veteran Tracker
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Joined: Oct 2016
Posts: 3,413 |
You need to ask yourself- is the money being offered worth giving someone else primary control over your property? The owner of mineral rights has the right to use the surface of your property as is reasonably necessary to extract the minerals. That means developing roads, holding tanks, well pumps, and anything necessary to access and remove the minerals.
All that is necessary for the triumph of evil is that good men do nothing. Edmund Burke
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Re: Mineral Rights
[Re: Creekrunner]
#7837094
05/12/20 02:57 PM
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Joined: Jan 2011
Posts: 19,498
Erathkid
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Posts: 19,498 |
Don't sell. I get those letters on a weekly basis. We do too. I'm not about to sell. We did a 3 year lease with EOG, with another 3 year option. This was probably 15 years ago when the Barnett shale was rocking. Bonus money paid for our land. Still have 100 percent minerals. That was a fluke, but bottom line, never sell.
Life is too short, as is. Don't chance it. Don't text and drive.
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Re: Mineral Rights
[Re: upsslim]
#7837104
05/12/20 03:03 PM
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Joined: Jul 2006
Posts: 110,795
dogcatcher
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Joined: Jul 2006
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We get the same letters, the dollar figure gets higher every. Different company, but they seem to know what the other offer was???
Combat Infantryman, the ultimate hunter where the prey shoots back. _____________"Illegitimus non carborundum est"_______________
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Re: Mineral Rights
[Re: upsslim]
#7837133
05/12/20 03:16 PM
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Joined: Jan 2019
Posts: 570
Papalote
Tracker
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Tracker
Joined: Jan 2019
Posts: 570 |
People sending letters buying MRs are in the know. I figure if they want them they must be worth or about to be worth something. $30/month forEVER! Beats a few one time bucks. NEVER sell. I worked with a PUKE that would send checks/letters to old people in the hope that they would cash it thus selling their MRs to him. Told him he was (insert any severe negative description) and never spoke to him again.
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Re: Mineral Rights
[Re: upsslim]
#7837175
05/12/20 03:54 PM
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Joined: Nov 2004
Posts: 11,403
Choctaw
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Posts: 11,403 |
Where are the minerals located?
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Re: Mineral Rights
[Re: Choctaw]
#7837193
05/12/20 04:12 PM
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Joined: Jan 2011
Posts: 19,498
Erathkid
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Where are the minerals located? You buying, Choc? You'll have to outbid me
Life is too short, as is. Don't chance it. Don't text and drive.
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Re: Mineral Rights
[Re: upsslim]
#7837211
05/12/20 04:30 PM
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Joined: Apr 2009
Posts: 6,107
pdr55
THF Trophy Hunter
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Joined: Apr 2009
Posts: 6,107 |
If you do decide to sell, look into just selling the production on the operating well(s) only. That leaves you with mineral rights to remaining property in case exploration picks back up.
If you`re running down my country, man, You`re walking on the fighting side of me. (Merle)
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Re: Mineral Rights
[Re: upsslim]
#7837237
05/12/20 04:53 PM
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Joined: Sep 2008
Posts: 6,695
Cochise
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Posts: 6,695 |
Absolutely DO NOT sell them right now. It is a horrible time to sell.
Every situation is different on if/when a person should buy or sell - but right now - 1,000,000% is NOT the time to even consider selling.
Right now you have a lot of people sending letters out based on the tax rolls - it's easy and relatively cheap - they're low ball offers.
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Re: Mineral Rights
[Re: Mickey Moose]
#7837244
05/12/20 04:56 PM
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Joined: Apr 2013
Posts: 8,413
freerange
THF Trophy Hunter
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Joined: Apr 2013
Posts: 8,413 |
Just me, unless you're seriously hard up for money I wouldn't even consider it.
Every time I've been approached the 'buyer' already had a number in mind, or included a price range in the letter. With the recent hit to the economy and O&G as low as it is right now they're probably sniffing around to find low ball bargain buys.
^ x3
At some point in life its time to quit chasing the pot of gold and just enjoy the rainbow. FR Keep your gratitude higher than your expectations. RWH
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Re: Mineral Rights
[Re: Erathkid]
#7837249
05/12/20 05:01 PM
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Joined: Nov 2004
Posts: 11,403
Choctaw
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Posts: 11,403 |
Where are the minerals located? You buying, Choc? You'll have to outbid me Not at this time...well, maybe.
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Re: Mineral Rights
[Re: upsslim]
#7837260
05/12/20 05:05 PM
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Joined: Jul 2008
Posts: 3,805
Big_Country01
Extreme Tracker
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Extreme Tracker
Joined: Jul 2008
Posts: 3,805 |
I would never sell minerals. Leasing is another story.
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Re: Mineral Rights
[Re: upsslim]
#7837839
05/13/20 01:11 AM
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Joined: Dec 2012
Posts: 1,640
LeonCarr
Pro Tracker
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Pro Tracker
Joined: Dec 2012
Posts: 1,640 |
J. Paul Getty said it best...The meek shall inherit the earth, but not the mineral rights.
I would try to buy the outstanding mineral rights on my property before selling mine.
Just my .02, LeonCarr
"Whitetail Deer are extinct because of rifles with telescopes mounted on them." - My 11th Grade English Teacher
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Re: Mineral Rights
[Re: Erathkid]
#7838021
05/13/20 05:20 AM
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Joined: Aug 2004
Posts: 17,721
Txduckman
THF Celebrity
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THF Celebrity
Joined: Aug 2004
Posts: 17,721 |
Don't sell. I get those letters on a weekly basis. We do too. I'm not about to sell. We did a 3 year lease with EOG, with another 3 year option. This was probably 15 years ago when the Barnett shale was rocking. Bonus money paid for our land. Still have 100 percent minerals. That was a fluke, but bottom line, never sell. Very nice!!
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Re: Mineral Rights
[Re: upsslim]
#7838137
05/13/20 01:12 PM
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Joined: Oct 2013
Posts: 715
upsslim
OP
Tracker
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OP
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Joined: Oct 2013
Posts: 715 |
I'm pretty sure it is a SCAM. The guy called my sister and she could not talk at that time. She asked for his number so she could call him back. He hung up and hasn't called back. Thanks for all the info.
East Texas Patriot Guard Rider Flag Captain
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Re: Mineral Rights
[Re: upsslim]
#7838153
05/13/20 01:24 PM
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Joined: Sep 2008
Posts: 6,695
Cochise
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THF Trophy Hunter
Joined: Sep 2008
Posts: 6,695 |
I'm pretty sure it is a SCAM. The guy called my sister and she could not talk at that time. She asked for his number so she could call him back. He hung up and hasn't called back. Thanks for all the info. What was the company name on the letter? A lot of those guys are fly-by-night types that run high pressure deals much like a used car salesman.
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