I assume by oil lease, you mean a mineral interest that your dad had leased to an oil company? And now yall receive a royalty?
If this is the case I am sure that yall are getting offers to sell all the time. I would call a handful of them and get them to make you an offer. The royalty acquisition business is very competitive these days. If you shop it around it will be far better price discovery than getting some lawyer or engineer who has no concept of the market to give you his "opinion" of the market. I realize this is a hot button issue and you are going to get a lot of advice to do a lot of different things.
I think that is very bad advice.If someone does not know anything about leasing a mineral interest the last person they should contact is a lease hound. The mineral owner is selling their interest subject to the terms of the contract and that document is what is important!
No. This is a production lease that we own and ready to sell. Reasons as to why, I won't post on here. All we need is an appraiser. We already know some people that personally will buy it. Just need to know the fair price for it.
Howdy, a Old Rule of Thumb was 36 months current income, I am sure that that number, the 36, has increased, but it is a very good way to get close to the value you can expect.