Hopefully some of the O&G folks on here can tell me a bit about this... Both parents are now dead, so we've got some non-producing mineral rights in their name in Pottawatomie county, and I checked uslandrecords.com and there are a few entries on there, the last being from 2012 (apparently they drilled a well, but it was dry, abandoned and plugged), and it indicates 120 acres. But some other docs we have list 2.2222222 acres. So how do we find out exactly how much we have and how do we sell the mineral rights? It appears I can send the info to usmineralexchange.com and they'll give me a "free consultation", and I can list the rights for no charge in their "for sale" forum, not sure if that's the best way to go or if there is a better way?

Hopefully some of the O&G folks on here can tell me a bit about this... Both parents are now dead, so we've got some non-producing mineral rights in their name in Pottawatomie county, and I checked uslandrecords.com and there are a few entries on there, the last being from 2012 (apparently they drilled a well, but it was dry, abandoned and plugged), and it indicates 120 acres. But some other docs we have list 2.2222222 acres. So how do we find out exactly how much we have and how do we sell the mineral rights? It appears I can send the info to usmineralexchange.com and they'll give me a "free consultation", and I can list the rights for no charge in their "for sale" forum, not sure if that's the best way to go or if there is a better way?
I used that website a couple of years ago. My wife's mother left us three small percentages of mineral rights. I got a few responses and sold the rights pretty quickly and easily.

I would suggest digging around a little more and get a better idea of what is actually owned. What is it that is 120 acres? If they previously owned all the minerals in a 120 acre tract and you found some document stating you own 2.222 acres (assuming its NMA, net mineral acres), then you would own about 1/24th mineral interest in the 120 acres.

There are also a lot of different possibilites such as when was it last leased, is it possible the minerals are held by a well a different well in another area or a different depth than the plugged well, etc. It is also possible that they owned a royalty interest from the previous well, that is no longer producing.

I am not familiar with usmineralexchange.com, They may need more information on what is owned, in order to help. I would be surprised if they take the time to run the title back, but you never know until you ask.

You can hire a landman to give you an idea what you really own and if there has been any activity in the area. That said, conventional O&G wisdom is that you never sell minerals. Their value is in the leasing for exploration, and you can't extract that with a sale.

You can hire a landman to give you an idea what you really own and if there has been any activity in the area. That said, conventional O&G wisdom is that you never sell minerals. Their value is in the leasing for exploration, and you can't extract that with a sale.
We were told that same thing for the 20ish years that we owned 3 rights that made us all of $20 a year at best. Many years half that. And it caused us to have to file the long form which cost more than that to do online so it was a net loss.

My late father was a senior petroleum landman and his saying was always "never sell your mineral rights." One day it could hit big and that may not be for 50 years or for reasons you'd never guess.

I can tell you the stories are still true about the well grandpa bought into 85 years ago that was paying $50 a month, then they went deep and horizontal and now it's paying $2000 per month. I saw a buddy's royalty statement a couple months ago.

I can tell you the stories are still true about the well grandpa bought into 85 years ago that was paying $50 a month, then they went deep and horizontal and now it's paying $2000 per month. I saw a buddy's royalty statement a couple months ago.

This hasn't paid anything in years, it's been plugged for years too. We're comfortable selling it and won't know if it starts producing, so we won't have any regrets. And neither me nor my brother have any heirs...

In that county, the Average pooling bonus (for a 1/8th) royalty is ~$175 per acre over the last year.

Average pooling bonus (for a 3/16th) royalty is ~$140 per acre over the last year.

Without production or the prospect of near term production, you could probably expect to receive 3 to 4x of the above numbers. Roughly $700 per net acre. Of course, you could also sell and reserve a non-participating royalty interest but you’d get less cash up front.

Average pooling bonus (for a 1/8th) royalty is ~$175 per acre over the last year.

Average pooling bonus (for a 3/16th) royalty is ~$140 per acre over the last year.
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random question maybe i am reading this wrong or don't understand how this works ..

but isn't 1/8 the same as 2/16th ?

so why would a larger (3/16) royalty make less per acre then a smaller 2/16 royalty??

random question maybe i am reading this wrong or don't understand how this works ..

but isn't 1/8 the same as 2/16th ?

so why would a larger (3/16) royalty make less per acre then a smaller 2/16 royalty??

If you choose a larger royalty, you are delivering less net revenue to the operator (or non-operator).

1/8th royalty would mean the operator receives 87.5% of the revenue from production.

And a 3/16th royalty would yield 81.25% of the revenue for the operator / lessee.

All things being equal, a position burdened by higher royalties is less valuable to the operator. So there is less cash paid upfront for either a lease or pooling bonus.

If you choose a larger royalty, you are delivering less net revenue to the operator (or non-operator).

1/8th royalty would mean the operator receives 87.5% of the revenue from production.

And a 3/16th royalty would yield 81.25% of the revenue for the operator / lessee.

All things being equal, a position burdened by higher royalties is less valuable to the operator. So there is less cash paid upfront for either a lease or pooling bonus.

ok that makes total sense thank you very much for taking the time to explain ..

In that county, the Average pooling bonus (for a 1/8th) royalty is ~$175 per acre over the last year.

Average pooling bonus (for a 3/16th) royalty is ~$140 per acre over the last year.

Without production or the prospect of near term production, you could probably expect to receive 3 to 4x of the above numbers. Roughly $700 per net acre. Of course, you could also sell and reserve a non-participating royalty interest but you’d get less cash up front.
I was shown very similar data when I first started looking at selling our rights. What I know, because I deposited the checks, is that we averaged around $15 a year in royalties. Having to file long form because we had a royalty 1099 cost $30 to file online. Without that 1099 we could have filed short form free. So for 20 years it was a net loss of $15 a year. So when a guy offered us $500 for the rights I couldn't say yes fast enough.