# Sell Oil and Gas Royalties: What Yours Are Worth and How to Sell > Sell your oil and gas royalties without guessing. What a royalty is actually worth, how the multiple is built, what the process and timeline really are, what it costs you, and when you should not sell at all. From a buyer in Tulsa. Source: https://www.berlinroyalties.com/sell-oil-and-gas-royalties/ Publisher: Berlin Royalties, a veteran-owned oil and gas mineral and royalty buyer in Tulsa, Oklahoma, buying for its own account since 2014. Call or text 918-984-1645. License: free to quote and cite with attribution to Berlin Royalties and a link to the source URL. Sell Your Royalties ## Sell oil and gas royalties You can have a real number, with the arithmetic shown, in about a day. No fee, no listing, no obligation, and if we think you should keep the royalty we will tell you that instead. [Get a Free Valuation](https://www.berlinroyalties.com/free-valuation/) [Check an Offer You Have](https://www.berlinroyalties.com/offer-checker/) Send us a royalty check stub, a division order, or just the county and your name. We tell you what you own, what we will pay, and exactly how we got to the number. Berlin Royalties is the trade name of Berlin Resources LLC. We buy for our own account, we take title in the county records, and we have been doing it out of Tulsa since 2014. ## What you are actually selling Worth pinning down first, because the word royalty gets used for four different things and they are not worth the same. - **A producing royalty.** You own minerals, they are leased, wells are producing, and you get a monthly check. This is the deepest market and the easiest thing in this business to sell well. - **An [overriding royalty](https://www.berlinroyalties.com/overriding-royalty-interest/).** Carved out of the lease rather than the minerals, so it dies when the lease dies. Sellable, at a discount that reflects that. - **A [non-participating royalty](https://www.berlinroyalties.com/non-participating-royalty-interest/).** Sellable, and whether it is [fixed or floating](https://www.berlinroyalties.com/fixed-vs-floating-npri/) can change the value by more than any negotiation will. - **Minerals with no production.** A different asset priced on the chance of future drilling. See [non-producing minerals](https://www.berlinroyalties.com/who-buys-non-producing-mineral-rights/). If you are not sure which you have, that is normal and we will work it out for you at no charge. Most owners find out from a [check stub](https://www.berlinroyalties.com/royalty-statement-decoder/). ## What are my oil and gas royalties worth? An offer on a producing royalty is almost always built as a multiple of recent monthly income. A buyer takes what you have received over the last three to twelve months, adjusts for anything unusual, and applies a multiple. That multiple is a payback period wearing a disguise. A 48 month multiple means the buyer expects to get their money back in about four years and to own the stream forever after that. Whether that is a fair trade depends entirely on three things: - **How fast your wells decline.** A shale well falls hard for two years then flattens. A fifty year old conventional well declines slowly and has been doing it for decades. Apply the wrong curve and the number is badly wrong, which happens constantly because a formula cannot tell which one you own. - **What price deck they used.** Spot price is nearly irrelevant to a twenty year stream. The forward curve is what matters. See [the curve and the headline](https://www.berlinroyalties.com/oil-scout/the-curve-and-the-headline/). - **Whether there are undrilled locations.** The part nobody puts in a letter. If your tract has remaining locations, real value sits in wells that do not exist yet, and an offer priced only on your current check buys that from you for nothing. Ask any buyer for those three numbers. A buyer who did the work answers in a paragraph. Our [offer checker](https://www.berlinroyalties.com/offer-checker/) will turn any specific offer into the payback period it implies and tell you what the buyer must be assuming to justify it. Deeper detail on method is on [how much mineral rights are worth](https://www.berlinroyalties.com/mineral-rights-value/). ## The process, and how long it actually takes | Step | What happens | Typical time | | 1. You send what you have | A check stub, a division order, a deed, or just a county and a name. Nothing formal. | Minutes || 2. We look it up | We pull the wells, the production, the operator, and run the title far enough to know what you own. | Usually one business day || 3. You get a number with the reasoning | Which wells, what decline, what deck, what we think the undrilled side is worth, and what we will pay. | Same day as step 2 || 4. You decide, on your own clock | No deadline. Take it to another buyer if you want, and we will tell you if theirs is better. | Yours || 5. Purchase agreement | Plain language. You should read it, and you should be able to. | A day or two || 6. Title and closing | We do the title work and pay the costs. A clean interest closes quickly. Probate gaps and old severances take longer. | Two to four weeks, typically || 7. Funds | Wire or check, your choice, and the deed records. | At closing | Anyone promising to close a mineral sale in 48 hours is either skipping the title work or was never going to close at all. Title is the part that takes time, and it is the part that protects both of us. ## What it costs you With a direct buyer, nothing. We pay for the title work, the deed preparation, the recording fees and the closing. There is no commission, because we are not a broker and nobody is being paid out of your proceeds. That is not true of every route. A broker takes a commission. A marketplace takes a listing fee, a commission, or both. Those routes can still be worth it when competition raises your price by more than the cost, which is a real thing on a large clean producing interest. It is usually not true on a small or complicated one. We lay out the tradeoff honestly on [broker or direct](https://www.berlinroyalties.com/broker-or-direct/) and [compare your selling options](https://www.berlinroyalties.com/compare-selling-options/). ## What you need to have Less than people expect. Any one of these is enough to start: - A recent royalty check stub - A division order - A deed or a probate document - An offer letter somebody else sent you - A county, a state, and a family name If the minerals are still in a deceased relative's name, that is extremely common and it is fixable. See [selling before probate is finished](https://www.berlinroyalties.com/sell-inherited-minerals-probate/) and [transferring inherited minerals](https://www.berlinroyalties.com/transfer-inherited-minerals/). If you cannot find anything at all, start with [how to find out what you own](https://www.berlinroyalties.com/find-out-if-you-own-mineral-rights/). ## You can sell part and keep the rest The single most useful thing most royalty owners do not know. Selling a fraction and retaining the remainder is an ordinary transaction, not a favor. It is frequently the right answer when you need a specific amount of money and have no view on where prices go, because it takes the timing question off the table completely. If a buyer will only take all of it, that is a fact about that buyer, not about your options. ## Taxes A royalty sale is generally a capital gain, and if you inherited the interest your basis is usually stepped up to value at the date of death, which can reduce the gain substantially. Ordinary royalty income is taxed differently from a sale. We are not tax advisors and you should use one, but we will give your CPA whatever numbers they need. Start at [taxes when you sell minerals](https://www.berlinroyalties.com/mineral-rights-capital-gains-tax/) and [1031 exchanges](https://www.berlinroyalties.com/1031-exchange-minerals/). ## When you should not sell We would rather say this before you send us anything than after. - **A new well just came online.** Early production is not representative and a multiple built on it can cut either way. Wait for the curve to settle. - **Your section is about to be drilled.** Permits and rigs nearby change the answer. Check first, free, at [well records](https://www.berlinroyalties.com/well-records/) or with [Mineral Watch](https://www.berlinroyalties.com/mineral-watch/). - **The income matters to your monthly budget.** A lump sum spends. A royalty keeps arriving. - **You have not checked whether money is already owed to you.** Some things that look like a reason to sell are actually a suspense problem. See [unclaimed royalties](https://www.berlinroyalties.com/unclaimed-royalties/) and [what your state already requires](https://www.berlinroyalties.com/royalty-payment-laws/). - **You are being rushed.** Nothing about mineral value expires on a Friday. The longer version is at [when not to sell](https://www.berlinroyalties.com/when-not-to-sell/). It is on our own website, arguing against our own interest, on purpose. ## Selling royalties in your state Current drilling activity, the operators actually running wells, what the state's royalty payment law already guarantees you, and where we buy. [Oklahoma](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/oklahoma/) [Texas](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/texas/) [New Mexico](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/new-mexico/) [Kansas](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/kansas/) [North Dakota](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/north-dakota/) [Montana](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/montana/) [Wyoming](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/wyoming/) [Colorado](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/colorado/) [Utah](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/utah/) [California](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/california/) [Louisiana](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/louisiana/) [Arkansas](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/arkansas/) [Ohio](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/ohio/) [Pennsylvania](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/pennsylvania/) [West Virginia](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/west-virginia/) [Alabama](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/alabama/) [Alaska](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/alaska/) [Kentucky](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/kentucky/) [Michigan](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/michigan/) [Mississippi](https://www.berlinroyalties.com/sell-oil-and-gas-royalties/mississippi/) ### Send us a check stub and we will read it back to you. What the wells are, what your decimal implies, what the stream is worth and how we got there, and what we will pay. Free, no obligation, and we will say plainly if we think holding beats selling. [Get a Free Valuation](https://www.berlinroyalties.com/free-valuation/) [Ask a Landman](https://www.berlinroyalties.com/ask-a-landman/) ## Related - [Who buys oil and gas royalties](https://www.berlinroyalties.com/who-buys-oil-and-gas-royalties/) and [the buyer directory](https://www.berlinroyalties.com/mineral-buyers/) - [How much are mineral rights worth](https://www.berlinroyalties.com/mineral-rights-value/) - [Questions to ask a buyer](https://www.berlinroyalties.com/questions-to-ask/) and [before you sign](https://www.berlinroyalties.com/before-you-sign/) - [Got an offer letter?](https://www.berlinroyalties.com/got-an-offer/) and [can I back out after signing?](https://www.berlinroyalties.com/can-i-back-out-of-a-mineral-rights-sale/) - [The complete Oklahoma selling guide](https://www.berlinroyalties.com/selling-guide/) - [How selling to us works](https://www.berlinroyalties.com/how-it-works/) Berlin Royalties is the trade name of Berlin Resources LLC, a mineral buyer and a landman shop in Tulsa, not a law firm or a tax advisor. We are a potential counterparty to any sale you make, which is exactly why we would rather you checked our arithmetic than took our word for it.