Mineral Interest Types Explained

If you are new to mineral rights ownership understanding what you own is important.  There are a lot of different types of mineral rights ownership.   It can get complicated very quickly.

Before we explain the different mineral interest ownership types, it helps to know which type of ownership you have!  If you are currently receiving royalty income, pull out your most recent check stub.  Your check will either directly say what type ownership you have like example 1, or it will have an abbreviation for your ownership type like example 2.

Most operators will add a key to the bottom that tells you what the abbreviation stands for.   Some operators will not put a key at the bottom.  While there are common abbreviations, these can vary by operator.

If you have questions about what type of mineral interest you have please send us a check stub and we can help you out.   Simply fill out the contact form at the bottom of this page and upload a copy of your latest check stub.

Here are some examples of check stubs that show the mineral ownership type:

Example 1:  Non-Participating Royalty Interest

Non-participating Royalty Interest

Example 2:  Royalty Interest

Royalty Interest

Types of Mineral Interest Ownership

As a mineral owner there are a few different types of mineral interest you can own.  Mineral rights ownership is commonly abbreviated in the Oil and Gas industry. We have included the most common abbreviations with each definition.

Note:  We are simplifying the mineral rights ownership types below to make it easier to understand.  There are some exceptions and rules that we won’t cover here.

Here are the most common types of mineral rights ownership to understand:

Royalty Interest (RI):  This is the most pure form of mineral rights ownership.  You own all rights to the oil and gas underground without restriction of any kind.   You have the right to lease the property, negotiate lease terms, collect lease bonus payments, and collect royalty income.  You are not responsible for any drilling or completion related expenses, and little or no production related expenses will be deducted from your royalty checks as defined in your lease.

Working Interest (WI):  A royalty interest owner may become working interest owner by choosing to participate in the oil and gas drilling alongside the operator.  When a royalty owner chooses this option, they become responsible for their share of drilling, completion, and production related expenses.   You could make more money as a working interest owner, however, there is substantially more risk.  For example, if a dry hole is drilled you would still owe your share of the expenses and would never collect any income since the well never produced any oil and gas.

Non-Participating Royalty Interest (NPRI): A non-participating interest owner has the right to collect royalty income but does not have the right to lease the mineral rights, negotiate lease terms, or collect a lease bonus.   While you have the right to collect royalty income you don’t get to negotiate the lease royalty rate, lease term, deductions, or collect the lease bonus paid by an operator when a lease is signed.

Executive Rights:  The flip side to an NPRI ownership is executive rights.  With executive rights you have the right to negotiate a lease, including the lease royalty rate, lease terms, etc.  In addition, you have the right to collect any lease bonus paid for leasing the mineral rights.   Note:  This interest type would not be listed on a check stub because this type of ownership would not entitle you to receive royalty income.

Overriding Royalty Interest (ORRI):  An ORRI interest is created at the time that a lease agreement is signed.  This can be created in a few ways, but one way is when someone leases your property, then turns around and leases the property for a higher royalty percentage.  For example, if you leased to John Smith Drilling for 20%, and then he turns around and leases the property to ABC Drilling for 25%, John Smith Drilling now has a 5% ORRI on your mineral rights (25% – 20% initial lease).  You would still collect your 20% royalty as originally agreed, but John Smith gets a 5% royalty for his ORRI.  Important: This ORRI only remains in affect if the lease is drilled on and for as long as the lease continues to be held by production.  If a well is never drilled before the lease expires, John’s 5% ORRI will also expire and has no value.  If a well is drilled, once that well stops producing and the original lease expires, the ORRI interest can also expire.  If you own an ORRI, a mineral buyer must be cautious because the ORRI interest may eventually expire and have no value.

Mineral Classified:  This type of ownership can only occur in Texas.  If you have mineral classified ownership, the state of Texas gets 50% of all royalty income generated from the mineral rights.  For example, if you are leased at a 25% royalty, you would only be entitled to get a 12.5% royalty because the state of Texas would get 12.5% as well.   In addition, the mineral rights ownership and the land ownership cannot be severed.  If you want to sell your classified mineral rights, you must sell the land with the mineral rights ownership.   Generally speaking, you will know if you have mineral classified ownership.  If you don’t know, you likely have one of the other types of ownership as this is a very uncommon type of mineral rights ownership.

Phases of Mineral Rights Ownership

In addition to the different types of mineral interests you may own, it’s important to understand the different phases of mineral rights ownership.  You may own a royalty interest (RI), but that ownership could be in one of three phases.

The three phases of mineral rights ownership are:

Mineral Rights Ownership Phases

Non-Producing Mineral Rights – Unleased

When an oil and gas company decides they want to drill in an area, they must lease the property.   If you are not receiving a royalty check each month and you have not signed a lease agreement, you have non-producing unleased mineral rights.   The value of non-producing unleased mineral rights is the most difficult to determine.  The reason is that there is not a high probability of any drilling taking place soon.   The property will first need to be leased and then drilled on which will easily take 5+ years.

Important note: In general, we do not list non-leased / non-producing properties at US Mineral Exchange.  Typically the value of non-leased / non-producing acreage is in the range of $0 to $250/acre depending on the state and county.   We do make rare exceptions for clients who have a substantial (250+ net mineral acres) amount of non-leased / non-producing acreage, have a recently expired lease, or have offers in excess of $50,000.  Please contact us if you are unsure about what the potential value might be and we can point you in the right direction.

Non-Producing Mineral Rights – Leased

If you are not receiving a royalty check each month but you have signed a lease agreement that is still active, you own non-producing mineral rights that are currently leased.  This is a good situation to be in because it means that an oil and gas company intends to drill on your property in the next 3 to 5 years.   In addition, it means there will be demand from buyers are who are interested in purchasing your property.    You have the flexibility to sell mineral rights now or wait and see if drilling takes place and you start receiving monthly royalty checks.  While being leased means there is a reasonable chance drilling will take place in the next 3 to 5 years, it’s very possible that no drilling occurs.

Note: If you have not signed a lease in 5+ years, it is safe to assume you have non-leased / non-producing mineral rights.

Producing Mineral Rights

The easiest type of property to identify are producing mineral rights.   You own producing mineral rights when the oil and gas company has already drilled on your property.  Each month you receive a royalty check for your share of the oil and gas production.   This royalty check is the key indicator that you own producing mineral rights.   If you do not receive a royalty check each month (or every few months) then you have non-producing mineral rights.

The nice thing about producing mineral rights is that there is a high demand for them.  When you sell producing mineral rights there will be a large number of people who make offers on your property.  Check out our article about the value of royalties to learn more about what your producing mineral rights could be worth.  If you are interested in selling we have a standard listing or you can auction mineral rights in just 7 to 14 days.

Important Mineral Ownership Terms

Entire books have been written about oil and gas terms.  This is not an all encompassing oil and gas glossary.  Instead, we are cherry picking the most important terms you need to understand as a mineral owner.

Mineral Rights/Royalties/Property:  Oil and Gas mineral rights have a lot of different names within the industry.  These names get thrown around loosely, but tend to all mean the same thing.  Regardless of what type of mineral rights ownership you have or what phase of ownership you are in, your mineral rights could be referred to as minerals, mineral rights, royalties, property, or some combination of those words.  Mineral rights are considered personal property.  As such, frequently mineral rights ownership is referred to as “property”.  This is confusing to many owners as they don’t own the surface (land).  Even if you don’t own the surface your mineral rights are still property.

Lease Agreement: The lease agreement is a document that gives an oil and gas operator the right to extract your oil and gas.   The lease agreement is the first step in the process before drilling can take place.  You will be approached to lease your mineral rights.  There will be specific terms in this lease agreement such as the lease royalty percentage, pugh clause, term of lease, etc that are very important.   Once wells start producing oil and gas this lease determines what percentage of the revenue you get, what expenses may be deducted, etc..  A lease agreement remains in effect for as long as oil and gas is produced, which could be and often is, decades.

Royalty Percentage:  The royalty percentage, also referred to as royalty rate, specified in your lease agreement determines what percentage of the production you get.   The higher your royalty percentage, the more money you will receive from production.   If a 12.5% lease would have meant $1,000/month income, a 25% lease would mean $2,000/month income. When selling mineral rights, a property leased at 25% will sell for substantially more than one leased at 12.5%.

Lease Bonus:  When you sign a lease agreement, you are entitled to collect a lease bonus.  This lease bonus compensates you for the time that an operator has to drill for oil and gas.  When you sign the lease agreement, you will be paid once for signing.  If the lease agreement is extended, you will be paid again for the extension.  The lease bonus amount will be higher or lower depending on the royalty rate.  For example, you may get $1,000/acre for a 25% royalty or $2,000/acre for a 12.5% royalty.  By taking a higher up front payment you are getting a lower amount of royalty income in the future if they drill.

Lease Term:  All leases will have a term in effect.  Typically an oil and gas lease will be 3 years + 3 years or 5 Years + 5 years.  As an example, when you sign the initial lease, it will be a for a period of 3 years.  The operator has the option to add 3 more years to the lease if they pay another lease bonus.  If the operator exercises the option to add 3 more years to the lease, this is called a lease extension.  Another lease bonus payment must be made when the lease is extended.  Typically this lease bonus is equal to the initial lease bonus amount for the first term.   If no drilling takes place during the initial lease or the lease extension (if extended) then the operator no longer has a lease on the property and does not have the right to drill.

Top Lease:  A top lease occurs when your mineral rights are currently leased.  Another operator may wish to be first in line to have a lease on this ownership if the current lease expires.  This operator may pay you for a top lease which automatically starts the moment the existing lease expires.

Surface Ownership:  If you own the land along with your mineral rights, you have surface ownership.  It’s less common to own both the land and the mineral rights.  Most mineral owners do not have surface ownership, they only own mineral rights.

Right of Way:  If you do own the surface / land, you may have heard the term right of way.  Right of way is a payment made to you for damaging your land or creating some type of inconvenience.   For example, a drilling rig may not be on your property, but they need to drive over your property to get to the location.  The oil and gas company would make you a right of way payment for the damage they cause by creating the road through your property.

Oil and Gas Permit:  An oil and gas permit must be filed with the state before drilling can take place.  If a permit has been filed on your acreage, it means drilling could occur, but it does not necessarily mean it will.  Drilling permits are frequently filed with the state when their is no intention to drill.  Oil and gas operators file the permits because they take time.  Having multiple permits filed allows them to have options when deciding when and where to drill.  The last thing an oil and gas operator wants to do is wait on state approval for a drilling permit.  They file these way ahead of time and only drill in a small percentage of the drilling permits granted.

Formations:  There are typically many different layers underground.  Think of a 7 layer cake.  Each layer may represent different options such as more oil, more gas, less water, easier to frack, etc..  Each layer, or formation, is at a different depth.

Oil and Gas Basin:  Throughout the United States there are a number of different basins.  These basins are also referred to as “plays” sometimes.  A basin or play defines a geographic area based on formations that can be reached.    Here is a map of the different oil and gas basins in the United States:

United States Oil and Gas Basins

Division Order:  When and oil and gas operator drills a new well, ownership changes, or a number of other things occur, a division order will be sent to the mineral owner.  The division order allows the operator to place you in to pay status and start paying you royalties.  A division order is basically a fancy name for a document that describes your ownership and you sign saying that you agree you are the correct owner and your information on file is correct.  If you do not sign your division order, you will not be paid royalties.

Royalty Check / Check Stub:  Once an oil and gas operator drills, and the division order is signed, you will start getting royalty checks each month.  Sometimes these royalty checks are sent via direct deposit.  Each month a “Check stub” will be generated whether you receive one or not.  This check stub that goes along with the royalty check is an accounting of the royalty income due to you.  The check stub will show the wells you are being paid for, your interest, your ownership type, volume, oil and gas prices received for selling, and lots of other details related to the production.   Note: This is a key piece of information when selling mineral rights.

Net Revenue Interest / Net Decimal Interest / Owner Interest:  On your check stub, you will see a decimal listed that specifies your percentage of the total amount the well generated.  Typically this decimal will look like (.00xxxxxx).   This decimal interest is determined by the number of acres in the unit, your royalty rate, and some additional calculations.   This NDI/NRI/OI listed on the check stub can be used to estimate how many net royalty acres or net mineral acres you own.

Drilling Unit / Spacing Unit / Pooled Acres:  These words are all used interchangeably and generally mean the same thing.  The unit size refers to how many acres were combined into a single block of acreage to drill on and extract oil and gas from.  For example, you may have 10 net acres personally, but when they drill they will be drilling on a 640 acre spacing unit.  Let’s say they drill a well that is not directly on your acreage, but is part of the 640 acre unit.  You would still get your percentage of the proceeds from that well.  You would be entitled to your 10/640 share of the production.  The math is a lot more complicated than this, but this is a simple way to look at your ownership within a unit.   Note:  If you are in an 80 acre unit they may not have room to drill additional wells where a 640 acre unit would have space for 6+ wells.  However, you would get a larger share of the production from that single well (10/80 vs 10/640).

Production Decline Curve: During the first few years after a well is drilled, the amount of oil and gas will dramatically decline.  This natural decline is called a production decline curve.  Different locations/basins/plays will have different decline curves.   During the first 3 to 5 years of a new wells life the production will decline very rapidly.   By the time a well hits years 5+, the large initial decline will level off.  The well gradually produces less oil and gas over time but will be more consistent after 5+ years.

Oil and Gas Decline Curve
Production Decline Curve

Pay Status:  When you are receiving oil and gas royalty income from an operator, you are in “pay status.”

Suspense: When you are due oil and gas royalty income from an operator, but they can’t yet pay you for various reasons you are in “suspense” status.  This means your oil and gas royalties are accruing in your name and being held by the operator until issues can be resolved and they can pay you.

Escheatment:  If you are held in suspense status long enough, by law, the operator must escheat money to the state where the income was generated.  Do a google search for “statewhereyouown escheatment search” and find the states website to check for escheatment funds. Then see if your name or any ancestor names show up.   If the state is holding funds for you in escheatment, you may be entitled to oil and gas royalty income that you aren’t receiving.

Gross Mineral Acre vs Net Mineral Acre:  A gross mineral acre is used to describe a particular section of land.  A gross mineral acre refers to the acreage when it was originally described.  For example, if your great grand father participated in the land run and got 120 acres, that would be 120 gross acres.   After he passes away and the ownership is passed from generation to generation (typically being split multiple ways each time), you end up with net mineral acres.  On a mineral deed, lease agreement, etc, the gross mineral acres are typically listed as they describe the tract.  However, your ownership within that gross acreage is your “net” acre or the number of net mineral acres owned.  You are paid based on how many net mineral acres you have not the gross acres.  You cannot determine net acres owned based upon gross numbers without a check stub.

Net Mineral Acre vs Net Royalty Acre:  Mineral buyers will sometimes make offers on either a net mineral acre or net royalty acre basis.   A net mineral acre could be leased at any percentage.  A net royalty acre assumes a 12.5% lease.  For example, if you have 20 net mineral acres leased at 12.5%, you have 20 net mineral acres and 20 net royalty acres.   However, if you have 20 net mineral acres leased at 25%, you have 20 net mineral acres and 40 net royalty acres (a 25% lease is double 12.5%, so you have double the net royalty acres).  Your number of net mineral acres does not change, but the number of net royalty acres owned can change based upon your lease royalty rate.  This is a way for mineral buyers to quickly compare two deals apples to apples based on the number of net royalty acres they are getting in the deal.

Purchase and Sale Agreement (PSA) / Letter of Intent (LOI):  When you sell mineral rights you will sign a PSA or LOI.   These documents have different names but both do the exact same thing.  The PSA or LOI will specify the terms of the deal.  It will list how much is to be paid, the legal description, closing terms, etc..  This document is extremely important for mineral owners.  If you do not understand a PSA when selling mineral rights you run the risk of being taken advantage of.

Option Agreement:  Some “mineral buyers” will have you sign an option agreement.  The option agreement gives the buyer the option, but not the obligation, to purchase your mineral rights at a specific price for a specific period of time.  Typically, an option agreement is 90 days.  When you sign an option agreement to sell mineral rights the option hold will try and flip your minerals.  They will get you to agree to a certain price and then find a real mineral buyer at a higher price so they can make a big profit.

Mineral Deed:  A mineral deed is the document that is used to convey your mineral rights ownership to another party.  Typically, a mineral buyer will prepare a new mineral deed for you to sign transferring the ownership to them.  While mineral deeds are pretty standard, there are some major land mines built into some mineral deeds that you should be cautious about.   Consult with US Mineral Exchange if you have been presented with a mineral deed to sell mineral rights.

Landman:  If you believe you own mineral rights but you have no proof of ownership, you would hire a landman.  A landman will go to the county clerk and pull records about land ownership.  They will create a chain of title to prove any oil and gas mineral rights ownership you may have.  If you need to hire a landman, check out Western Land Services or findalandman.com

Contact US Mineral Exchange:

If you have questions about your mineral rights, we’re here to help!  We speak with mineral owners every day and we look forward to hearing from you.  Please don’t hesitate to fill out the form below with any questions and our friendly team will respond quickly.

Free Consultation

Free Consultation

    Your Name

    Your Email

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    Average amount you receive each month:

    Is the property leased?:

    Do you have any offers?:

    How did you hear about us?:

    If you have check stubs, lease agreements, or offers, please upload those documents here(max 20 Mb):

    Tell us a little about your property and what you hope to accomplish? Please include state and county of property.

    Common Questions

    The more information you can provide about your property the better!  We can give you a better idea about the value of selling mineral rights if you provide more information.  The most important thing we need is for you to answer the questions and provide your state and county.

    If you have the required documents to list, providing those is extremely helpful!

    Absolutely not!  When you inquire at US Mineral Exchange we will not be putting any pressure on you to sell.  We will help answer any questions you have whether you are interested in selling or not.

    We typically respond to inquiries in less than 12 hours and usually within hours of submitting the contact form. At US Mineral Exchange our goal is to be available to mineral owners as a resource so we pride ourselves on quickly replying and communicating with mineral owners.

    At US Mineral Exchange, we take privacy very seriously. We will NEVER sell your information or use it without your consent. When you send us documentation or tell us about your property, that information does not go outside our company without your consent. Even when you list a property for sale on our website, we strictly control who has access to the information about your listing so that only legitimate buyers will be able to see property details.

    Many mineral owners make the mistake of getting an offer and quickly selling.   They then accept an offer far below market value because they felt pressure to sell.   There is nearly always a better price available.

    We have two types of listings available to help you sell mineral rights for the best price:

    Auction Listing – Our auction listings are for just 7 to 14 days.  If you have an offer in hand you are seriously considering, an auction listing is a quick way to get a better offer and ensure a smooth closing process.  Learn more about our auction listings.

    Standard Listing – Our standard listings run for 30 days.  These listings are ideal if you don’t have an offer in hand or you are not in a rush to sell.  Learn more about our standard listings.

    The reason that so many mineral owners decide to sell mineral rights at US Mineral Exchange is access to our large network of mineral rights buyers. Our goal is to help you get top dollar for selling mineral rights by getting your property in front of a huge audience of buyers. This allows buyers to compete against one another which ensures you get fair market value for selling mineral rights.

    There are absolutely no cost to list your property.  When you locate a buyer by listing your property with us, we are paid a commission directly by the buyers closing agent. This means you never have any out of pocket expenses ever.  We only get paid if we can get you a better price than the current offer you have in hand.

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    Client Reviews

    Robert Broome
    20:30 26 Nov 20
    We had a super experience working with Terra on the sale of our mineral rights. She was very patient with us and explained everything very clearly, which was helpful since we had no experience in this area, and she never talked down to us depite our ignorance. She was also professional in that she paid attention to every detail, down to indicating the paper size that was required for printing our documents! She kept us informed at every step of the process. She clearly knows her field well and made suggestions that allowed us to receive an excellent price for our rights. I would highly recommend using USME for any sale you are considering.read more
    Wayne Copes
    17:23 11 Nov 20
    My aging mother-in-law needed to sell some mineral rights in Oklahoma and Kansas. I was the family member "appointed" to find a buyer(s). I knew NOTHING about energy or mineral rights. However, I "stumbled" onto the US Mineral Exchange website and connected with their rep Terra Castagna. Terra patiently explained their process for getting rights evaluated and sold. The value of our rights did not meet the threshold for their usual sales, but Terra offered to make our rights known to potential buyers of smaller positions. In a very short time several buyers expressed interest and we quickly reached an agreement with one who was willing to buy both rights. We could not be happier with the service provided by US Mineral Exchange, and in particular, with Terra Costagna, and would unreservedly endorse their services.read more
    David Tusa
    17:38 23 Oct 20
    Overall excellent experience. Very professional and responsive staff. They are experts at the minerals business and the process reflected such. The transaction was completed in less than a week and we netted much higher proceeds than we expected. Highly recommended.read more
    Linda Baldwin
    15:04 17 Jul 20
    Selling oil and mineral rights is not a common practice, or at least not for us. We went from "how on earth will we do this and do it right" to a very successful sale in record time. I am so happy that we found US Mineral Exchange. From the first phone call they were professional, answered all of my questions, and walked me through every step of the process with calm professionalism, and brought a price exceeding our expectations. From a seller's perspective, it could not have gone better! I wholeheartedly recommend US Mineral Exchange and gladly serve as a reference.read more
    Beau Bostick
    19:07 15 Jul 20
    Great company just be careful who you sell to Iron Horse royalty out of Austin Texas and Garrett Merket very dishonest company. But after learning he was connected with a politician . I am not surprised
    Bryan Austin
    18:13 13 Jul 20
    Terra was amazing in assisting me in selling my late fathers royalties. She answered all of my questions and made the process smooth as butter! Thank you!
    Nicole Garcia
    20:48 12 Jun 20
    I contacted US Mineral Exchange in hopes to sell my families old mineral rights. Though the claims were too small for their business to sell they had great information for me and my situation. Highly recommend this company!
    David Johnsen
    18:06 08 May 20
    US Mineral has been very helpful, leading us through all the steps in selling two different royalties. We gave them plenty of problems to work us through and they were always more than helpful and kind.
    Donna Ware
    18:02 23 Apr 20
    My husband William Ware acquired Mineral Rights through his late Grandmother. We worked with Terra at US Mineral Exchange to begin the decisions to sell our rights. She responded to every question, even ones that to her were probably silly, she did it professionally and with kindness. When it came time to decide if we wanted to take the offer we received from a buyer, she didn't pressure us but gave us educated advise. I can't recommend this company enough!read more
    Charles Clark
    17:49 18 Mar 20
    To Tara Castagna: Thank you very much for helping me thru the selling process of my mineral rights. Your excellent customer service and attention to detail made the process very easy. Your research of the history and records of my rights was extremely helpful in completing this project. Again, thank you for the very professional service. Conley Lawread more
    John Parkhurst
    20:01 16 Mar 20
    I used US Mineral Exchange to sell my mineral rights in Colorado. I dealt with Terra and she was a real champ at follow-up and advise. She was extremely friendly and responsive to any questions I had. I highly recommend any individual that is considering selling their rights would be well satisfied for their customer service, experience, and guidance. My experience was totally hassle free. I highly recommend their service!read more
    John Parkhurst
    20:01 16 Mar 20
    I used US Mineral Exchange to sell my mineral rights in Colorado. I dealt with Terra and she was a real champ at follow-up and advise. She was extremely friendly and responsive to any questions I had. I highly recommend any individual that is considering selling their rights would be well satisfied for their customer service, experience, and guidance. My experience was totally hassle free. I highly recommend their service!read more
    Kenneth Wick
    18:34 16 Mar 20
    I obtained minerals through an inheritance and I knew they were in a area of interest. I contacted and listed with US Mineral Exchange. The good folks at USME found a buyer and the process of selling my minerals was done professionally and without a hitch. The support from Terra and Garrett was most kind and helpful throughout the entire process. I will gladly recommend their services.read more
    Pearson Ferguson
    16:58 03 Mar 20
    Great people. Smooth process. Quick closing. Highly recommend. US Mineral Exchange also got me a fair value when other companies were trying to lowball me. I will use them again if the need ever arises.
    Jack Roberts
    16:49 21 Dec 19
    I inherited mineral rights that have been in the family for decades. I enjoyed the monthly income but remained mostly ignorant of the whole oil/gas industry. Out of the blue I got an unsolicited offer to buy them which seemed an attractive option I had never looked into. I immediately ended up "down the rabbit hole" of how confusing this would be. In my on-line search for information I found US Mineral Exchange. After careful evaluation of the whole situation I engaged them as my broker, to list my minerals for sale. They helped me settle on a buyer, and they negotiated a purchase agreement that protected my interests better than I ever could have done on my own. During all the complicated and uncertain parts of closing the deal, I felt assured that Garrett and Eric and Terra were looking out for me and keeping me informed of the progress. The deal is now closed, the money is in the bank! I'm confident I got top dollar for my minerals, and having experienced industry professionals on my side kept me from worrying through the entire process. I am so glad I hired US Mineral Exchange.read more
    Duane Cole
    22:00 20 Dec 19
    After some research on how to sell the family mineral rights in North Dakota I was impressed with the US Mineral Exchange website. An initial contact with Terra got me started gathering documents to use to post the sale on the website. About one week after posting, Garrett suggested we request a best and final offer. Within a couple of days I had a final offer and we completed the deal, after exchanging paperwork, which took a couple more days. The service was fast, excellent and beyond my expectations. We received more for the rights than an offer I had received and more than I had expected. Terra and Garrett at the US Mineral Exchange were great at walking me through the process, answering my questions, and guiding me through the paperwork. I would recommend the US Mineral Exchange to anyone who is interested in selling their mineral rights.read more
    Darrin Turpin
    02:50 29 Sep 19
    Eric and Garrett were phenomenal in walking my family and I through the process of selling our mineral rights and essentially made it an effortless and painless experience. Whenever I had a question, they were quick to respond, very informative, and were both well above expectations in regard to their professionalism.I walked in to this process (even after extensive research) with an unsettling feeling not knowing much about how mineral rights were valued, how complicated or not the process of selling was from start to finish, and whether or not I was taking the right approach. Needless to say, my experience with them and the US Mineral Exchange before, during, and after the process alleviated that unsettling feeling swiftly.To anyone who is uncertain about this process as I was, rest assured that there are great safeguards in place through the US Mineral Exchange to protect you, your mineral rights, and is completely risk, and obligation free to pursue. This process is much easier and efficient in comparison to dealing with letters and phone calls from buyers on a case by case basis which can be tedious, stressful, and raises too many questions. The first obviously was "Is this the most I can get for my mineral rights?". This process through the US Mineral Exchange drives competition from many potential buyers which will maximize and define true value. I ended up selling my rights for 163% more than the highest offer letter I received over the course of the last 10 years.In conclusion, any potentiial seller who is even a tad curious, you have nothing to lose and everything to gain, and the best part is, it didn't cost one cent out of my pocket to sell or inquire about selling. Thank you Eric and Garrett for making this experience great, and effortless.read more
    Jarrod Turpin
    01:00 28 Sep 19
    The process for selling my mineral rights through US Mineral Exchange was quick and easy. My representative Garrett Phelan guided me throughout the whole process and kept me well informed all the way until closing. He got me a better price than initially thought I would get on the exchange. I would highly recommend this company for anyone looking to sell their mineral rights at the best price.read more
    Matthew Rigdon
    18:08 02 Aug 19
    US Mineral was able to get a better offer for my mineral rights and took care of all the paperwork. I appreciated their detailed instructions along the way and going above and beyond to get the deal closed on time.
    Jessica Parker Valentine
    20:38 24 Jul 19
    Terra and her colleagues walked me through the process to sell my mineral rights, so that I was completely understanding of every step and very comfortable with my decision to put my rights into auction. We fetched a much higher amount than my highest previous offer, so I was thrilled I made the decision to work with them.read more
    Sherry Nylander
    18:34 18 Jul 19
    After receiving an unsolicited offer to buy our inherited mineral rights in North Dakota, we turned to US Mineral Exchange for help. Garrett and Terra provided professional and helpful advice. After we listed we received an offer greater than we expected. Garrett walked us through the process to accept the offer and finalize/close the sale, which went without a hitch and quicker than we expected. We highly recommend US Mineral Exchange for selling mineral rights.read more
    Mary Gray
    20:12 14 Jun 19
    My husband and I have had many purchases of mineral from U.S. Mineral Exchange. We have had many transactions with Garret and he has always been very professional. We have never had an issue with U.S. Mineral Exchange. They are very trustworthy and always above board. Their staff is always professional and they give excellent customer service. Our most recent business deal was in selling some mineral rights and had the pleasure of working with Terra. Terra was every bit as professional as Garret and followed through with great integrity. We highly recommend U.S. Mineral Exchange to anyone looking to buy or sell minerals for any dollar amount. We are looking forward to doing more business in the future with U.S. Mineral Exchange. They truly are the best in this business.. Very pleased clients, Dan & Mary Grayread more
    Melody Ilk
    14:05 09 Jun 19
    Garrett was wonderful to work with over the course of our sale. He communicated clearly and consistently with us through every step of the way. Because of this, it was a simple process and easy to complete.
    Jeff Youtz
    13:33 06 Jun 19
    U.S. Mineral Exchange was a terrific team to work with in selling our mineral rights. Garrett Phelan was very professional, kept us informed every step of the way and made the whole process run quickly and smoothly. I would highly recommend U.S. Mineral Exchange for anyone contemplating the sales of their mineral rights.read more
    ROBERT WEBB
    02:22 05 Jun 19
    I was treated very well . It was a long drawn out process because of probate issues and they helped me through the process . They found a buyer who stuck with me for a year while we went through all the probate issues. I got the price I wanted. I highly recommend Garrett, he is a no nonsense professional.read more
    Lois Steinberg
    15:45 01 Jun 19
    I contacted US Mineral Exchange to help me sell mineral rights that I inherited. Their team was very professional and expedited completion of the transaction. If you are interested in selling your mineral rights, I highly recommend US Mineral Exchange.read more
    Richard Colegrove
    17:49 17 May 19
    We tried selling our mineral rights on our own had nothing but empty promises. Contacted US Mineral Exchange and a month later we sold for more than what was offered before and closed quickly. I can't say enough good things about our experience and we are completely satisfied. Don't learn the hard way, use US MIneral Exchange first!read more
    Nancy Hakemack
    18:36 10 Apr 19
    I loved the constant contact throughout. They explain the whole process of selling minerals and help you with every step along the way. Very knowledgeable of their job. Worked with us to get a fair price for our minerals. Would not go any where else.read more
    Matt Howard
    03:08 02 Apr 19
    I was referred to them by my father. They were very helpful, as I don't know a lot about mineral rights and that sort of thing, but they were patient, answered all of my questions, and helped me get a great value. I was impressed by how well everything went. They broke everything down for me and I am very happy I chose to use them to sell my mineral rights.read more
    James Grandon
    23:11 21 Mar 19
    USME was just wonderful to work with. They were honest, forthright, and the consummate professionals. They helped me to get a great price and kept me updated through the whole process of selling my oil interests. They were very patient with me and my many phone calls and other communications. Good and pleasant folks at USME, and I had the feeling all along the way that they really cared and worked hard for me. To say I am happy with them is an understatement.read more
    Randy Boaz
    16:37 06 Mar 19
    USME orchestrated the sale of our family mineral rights. We already had a pretty high offer, but they were able to find us a buyer willing to pay even more, after a short auction (less than a week). That buyer also uses their business to help military veterans. So, it was a good deal for both sides.read more
    Chris Hauge
    20:42 21 Feb 19
    Garrett and everyone at US Minerals is the only place to go. They explain the whole process of selling minerals and help you with every step along the way. Very kind, caring and knowledgeable of their job. Got us a very good price for our minerals. Would not go any where else. If you are thinking about selling give them a call!!!!read more
    Vickie Spradlin
    17:26 03 Dec 18
    I had mineral rights in Oklahoma but live in Texas and had no idea how to go about selling them. I came across US Mineral Exchange and haven't looked back. The two gentleman I worked with Eric and Garrett were great! They were professional, personable and guided me through the entire process and got me a really good prices. Can't thank the enough!!read more
    Tania Williams
    19:55 29 Nov 18
    Terra & Garrett were great. I mostly worked with Terra via e-mail. I did talk to both of them once on the phone but our transaction was a little trail tracking with the property going back to 1925 it was a lot of connecting the dots. We worked together to get the deal done & fairly quickly even with a few extra steps. Thank you again Terra & Garrett.read more
    showsie
    19:24 06 Nov 18
    This was my first time using us mineral exchange and I highly recommend their services! They are attentive, always return phone calls & emails and are most definitely professionals in their field! Plus you get a fair market price for your acres.read more
    Robert Hill
    00:34 27 Oct 18
    Garrett and Eric were great to work with and found a buyer above my asking price. They made the sales transaction very smooth and easy. Their instructions for the closing process were very detailed and easy to follow. I would certainly recomend their services,to anyone.read more
    Alyce Nunn
    03:18 24 Oct 18
    This process was so easy. The gentlemen at US Mineral Exchange were very helpful. If something came up, they were knowledgeable and quick to respond. From beginning to end all my questions were answered and my mind set at ease. I couldn't be happier with the entire experience. Thank you US Mineral Exchange!read more
    Janet Opitz
    18:22 01 Oct 18
    My experience with U.S. Mineral Exchange was excellent. Garrett was wonderful to work with. He was very professional and answered any questions that I had. I inherited some mineral rights and was not sure what to expect, but the bidding process went smooth on my end and I feel that Garrett did an excellent job making sure that I got a good price. I highly recommend anyone thinking or wanting to sell their mineral rights to get in contact with U.S. Mineral Exchange.Janet Opitzread more
    honey keyes
    23:05 14 Aug 18
    Years ago I inherited Mineral Rights---but that's all I knew! Had NO idea what they really were or how to determine their value! I'd received lots of unsolicited offers with a variety of purchase amounts over the years. When I finally decided to sell my Rights, I had NO CLUE how best to help myself in this process! Research kept pointing me to US Mineral Exchange---and it was the smartest call I could have made!! Garrett, my agent, was professional, patient, informative, prompt, insisted I feel No Pressure and that I understood all Final Decisions with regard to their sale were mine alone. He "walked next to me" from Start to Sale! If you, too, don't know what your Oil, Gas or Mineral rights can mean for you in that market place, contact USME and get educated! Guaranteed---you won't regret it!! I had an all-around EXCELLENT experience! Thanks, Garrett.read more
    Jackie Hinerman
    18:50 20 Jul 18
    Had a great experience with US Mineral. Listed the mineral rights and received an offer within a week. Offer was higher than previous offers from other companies. Closing transaction went smoothly and was fast. Rep was very knowledgeable and responded to my questions promptly.read more
    Christy Thompson
    16:49 14 Jun 18
    We had inherited property when my Mom passed and honestly we didn't know what to do with it. We were getting paid $17.00 in royalties a year and paying $398. in taxes. So my brothers and I decided to sell. So I did a lot of Googling and found US Mineral Exchange, I liked that they were local, same state as me. I filled out their questionnaire and sent it off and in less than 45 minutes I got a phone call from a person not some computer and such. Now I have to say that the people at US Mineral Exchange were so helpful and patient with explaining what paperwork I needed to find and how to get titles straightened out, and when there was a blip they were very nice on helping me learn what was needed to be done to smooth things out. So in my opinion if you have some mineral rights and would like to sell them contact Jeff at the US Mineral Exchange . Like I said very knowledgeable, helpful, quick in returning emails or phone calls and worked hard to get us the best price. All around a very good experience I would highly recommend them.read more
    Lula West
    01:24 08 Jun 18
    Eric and Garrett were very professional and answered all my questions along the way, even on a holiday weekend, which made it very smooth and stress free for us.They not only got us more than we expected for our mineral rights, but they also understood that we were hoping to get the transaction completed in a short amount of time. They not only did this, but got it done even sooner than we had hoped, and the funds into our account in a very quick manner. We are nearing retirement and I have had health issues recently, so decided to move forward on buying the travel trailer we dreamed of having when we retired. Selling our mineral rights made that dream come true for us, and Eric and Garrett helped us achieve that goal without worry. The trailer we had our eye on, the Airstream Nest, just came out last month and we had a vacation planned at the end of this month. By getting the funds from our sale in a timely manner, we were able to get the one the dealer had coming off the assembly line in time to take on vacation with us! Otherwise it would have been at least a 6 week wait. Our dream of owning an Airstream is coming true! We are so grateful to Eric and Garrett for their superb service! I highly recommend using US Mineral Exchange!read more
    Gary Knowls
    20:56 04 May 18
    We had been considering selling a portion of our gas royalties and after several offers (and they were all over the place) I knew I needed help to make a good decision. After a good deal of research, I found US Mineral Exchange. Eric provided detailed information about what to expect and Garrett led me through the whole process keeping informed and addressing any concerns I had as they popped up. I could not imagine that I there is a better outfit and a more customer focused group in the business. THANK YOUread more
    Patrice B
    23:24 01 May 18
    It was a pleasant experience doing business with US Exchange.Both Eric Winegar and later, Garrett Phelan were patient with me and my questions. They are truly professional, and knowledgeable.I am from California and I had some mineral acreage in Texas I wanted to sell. But I had zero experience in this sort of thing, i.e how to advertise, how to approach my target audience; I didn't even know what the true value of my property was. Through the years of my owning the property, I had offers to buy it, ranging from $300 to $1400 per acre. I found US Mineral Exchange from my google search. I was impressed with the positive reviews, and was greatly reassured after talking with Eric.It took less than 4 months for my property to get sold. The Company did all the leg work for me, including screening for the best offers.Because the commission the Company gets comes from the buyer, not the seller, people like me are assured that whatever final figures that are arrived at, are the best.read more
    Donna MscDonald
    14:57 26 Apr 18
    My sister and I recently inherited mineral rights. Frankly, we had no idea what they were or where to go for help if we wanted to sell them. I was very worried our ignorance on the subject would put us at a real disadvantage.I found information about the US Mineral Exchange on a royalty owners website. Jeff educated, counseled and guided us through every step. He was always responsive within 24 hours, taking the time to explain current market trends that might affect our decisions. I asked a million questions and got detailed responses - sometimes more than once...or twice...or as many times as I needed in order to understand. Jeff was patient and thorough. At every turn I felt confident we knew our options. We could not have asked for better representation and guidance. I always felt we were as much a priority as their biggest client.In the end, we sold 35 of our 100+ mineral acres, and I am convinced that there was no other place we could have received the kind of comprehensive, expert service we did at the Mineral Exchange. It is with absolutely no reservation that I recommend them to everyone - knowledgeable or not - who is looking for help selling minerals. And, the best part is...we did not pay anything out of pocket for their expert attention. We kept 100% of the selling price!I am convinced my sister and I received the best possible representation, plus…we had the bonus of working with the most knowledgeable and pleasant people on the planet - my "friends" at the US Mineral Exchange.read more
    Scott Westover
    18:42 23 Mar 18
    Eric and Garrett were both a pleasure to work with and very responsive. They were not pushy and in my experience were truly working in everyone's best interest. They made the process of selling my parents oil and gas interest an easy and painless process. I would highly recommend working with them.read more
    Suzanne Magee
    21:45 02 Mar 18
    They made selling a portion of my mineral interests easy, and got me more money than I was offered on my own. Very responsive to my questions.
    deanna gay
    07:31 27 Dec 17
    My aunt and myself owned mineral shares on adjacent parcels of land in Eddy county, New Mexico. We both received offers in the mail to purchase those rights. After contacting one of those companies, my aunt and I both experienced high pressure sales pitches. My aunt ended up selling her mineral rights to one of these companies. I did some research on the internet, and contacted the US Mineral Exchange. I received more than 6 times the amount per acre my aunt received. She was bullied and harassed and intimidated into selling her rights. My experience with the mineral exchange could not have been more different. After listing, offers came in quickly, and were relayed to me without any high pressure sales or suggestion that I must act quickly or lose the opportunity. Contact with Eric from the US Mineral Exchange was always pleasant, he was polite and supportive, and provided information which helped me make my decision to sell without feeling pressured. I could not be more pleased, and only wish my aunt had known about it in time to benefit. I highly, highly recommend the service. Once the sale was complete and documents filed, payment was promptly and securely relayed to my bank. There was no cost to me, no high pressure sales, and I received so much more money for my mineral rights. Thank you, thank you, thank you. sincerely, Deanna Brown of Utah.read more
    Theresa Phillips
    15:42 01 Dec 17
    Had a wonderful selling experience! Eric Winegar was Professional, knowledgeable and courteous. Kept me updated throughout the process. Would recommend mineral interest owners/buyers to choose U S Mineral Exchange. Five Stars!!!
    Scott P'Pool
    15:38 01 Nov 17
    Eric with US Mineral Exchange was exceptional to work with during my transaction. He was knowledgeable, helpful, and patient with my questions. The resulting payout I received was more than double of what I was able to find on my own. I am extremely glad that I reached out to the US Mineral Exchange. Scottread more
    Oneta Hammans
    14:41 26 Oct 17
    Our experience with US Mineral Exchange was very positive. Eric W. worked with us from start to finish and was always available to us to explain the process and answer questions.The process for selling my mineral rights took a little longer than some, but Eric was always available to explain the glitches to me. Eric always conducted the business affairs with the greatest professionalism and integrity. I would highly recommend US Mineral Exchange to anyone wanting to sell their minerals.read more
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