Any legitimacy to solicitations to sell mineral rights for homeowners, with all the Barnett/Shale fuss?

Question

I received a solicitation, that looked like a legal contract to sell the mineral rights to my property, which is just a small area that my home sits on? How can the average joe know what to do in this situation? How do I know I even OWN the mineral rights? Then, if I do, how do I know what is a fair price? I actually tossed the thing in the trash as usually unsolicited offers aren't worth more than the paper they are written on. Anybody else in the North Tx area received these offers????

Answer 1

If you're interested in such things, ask a lawyer about it. Otherwise, throw it in the trash.

Your deed should tell you if you own the mineral rights, but again a lawyer can tell you for sure by looking at your deed and doing some research. Chances are that the lawyer will cost you more than you'd ever get in mineral royalties, however.

With the cost of oil these days, companies are willing to explore/drill in places they never previously would have. That's why you're seeing such solicitations.