In the United States, mineral rights can be an extremely valuable asset. If you own property that may have reserves of oil, gas, or other resources, then that could be a hot commodity.
When selling mineral rights, you can earn a large lump sum of cash or purchase another property with serious tax advantages. Of course, this begs the question… how much should I sell my mineral rights for?
How to Value Your Mineral Rights
As you may imagine, there is no “one-size-fits-all” price package for selling mineral rights. Subsurface property values can range anywhere between zero and enough capital for retirement. Above all, here are the factors that will influence the value of your mineral rights:
- Producing vs. Non-Producing Mineral Rights
- Property History & Existing Wells
- Property Size and Location
- Adjacent Oil or Gas Drilling Operations
- Current Market Price of Resource
Average Mineral Rights Price Per Acre
Typically, mineral rights are valued at a set price per acre. Occasionally, mineral rights sellers can also receive signing bonuses or future oil royalties. Mineral rights prices per acre vary heavily between states and individual negotiations.
Unfortunately, because mineral rights are not required to be public record a true “average price per acre” is too broad to calculate. Plus, mineral rights sales are simply far too individualized that any specific numbers may be misleading. More than anything, it is important to contact a professional to help you earn the most when selling your mineral rights.
Getting your Mineral Rights Evaluated
In order to dig a bit deeper into finding the best price for your mineral rights, there are a few steps you can take to learn more about the value of your property. We recommend any of the following actions:
- Doing a competitive analysis. Although they are not public records, if you begin asking around, you may be able to dig deeper into mineral rights values in your area. Both government offices and social communities may be good resources.
- Hiring a third-party appraisal. Have your mineral rights valued by an expert. If possible, hire a third-party landman who is not associated with an interested buyer.
- Get someone to help you sell it. As you can imagine, the more offers you can get on your mineral rights, the better. The best way to get as many eyes on your property as possible is to work with a professional broker. Hire someone you can trust and let the market decide how much you should sell your mineral rights for.