CHEYENNE, Wyo., Aug. 16, 2019 /PRNewswire-PRWeb/ -- Laramie County in Wyoming is located on top of the Denver-Julesberg basin ("DJ Basin"), which has long been an oil and gas producing reservoir. However, most of the production to date has occurred on the Colorado side of the Wyoming-Colorado border in Weld County. Historically, there has been very little oil and gas production in Laramie County and this does not appear poised to change any time soon.
The number of active oil and gas drilling rigs in Laramie County peaked at 6 in both 2011 and 2014, with the most common number of active rigs since then being just 1. Since 2014, the number of active rigs has hovered around 1-2.
EOG Resources is the primary operator in the area, but they are one of the largest oil and gas companies in the world and focus the vast majority of their efforts in larger oil and gas plays like Texas. Additionally, when EOG does drill in Laramie, they usually only drill a small fraction of their permits. What does this mean for Laramie County mineral rights? For mineral rights owners, the value of their minerals increases when there is activity in or around their acreage. Because Laramie County has historically had limited activity, the mineral rights are valued accordingly. That is not to say there is still not value in them, it just could be years and years before that value is every realized, if ever. As such, sometimes Laramie County mineral rights owners choose to sell their rights to companies who are willing to wait and see if the minerals ever get drilled. Often, mineral owners like the idea of selling their mineral rights and investing the proceeds in an appreciating, predictable asset class that generates consistent cashflow to escape the uncertainty of Laramie County mineral rights. Additionally, Laramie County mineral rights owners who sell are often able to enjoy significant tax advantages when selling their mineral rights.
If you own mineral rights in Laramie County and are interested in receiving an offer from The Petram Group, please contact us at [email protected].
SOURCE The Petram Group
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