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One of the tax advantages that mineral rights owners may be able to take advantage of as a result of the sale of their mineral rights is called a 1031 Like-Kind Exchange. By using a 1031 Exchange, you can actually qualify to pay no taxes at all on the proceeds of your sale.

The absolute best way to determine a value would be to engage an oil and gas engineering firm to calculate a market value based on assumptions about future production and product prices.  These firms are mostly located in the cities you would think of as being in oil and gas country. Houston, Dallas, Tulsa, etc.

However, the results from these studies will give you a range of net present values, but will normally not provide a MARKET VALUE, which is probably what you want.

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