The Benefits of Selling Your Mineral Rights Today
The current state of oil production and prices is a direct result of the crisis at hand. Today, the benefit of selling your mineral rights are higher than ever. With the uncertainty of the health of the oil industry, many experts are concerned about long term impacts. At PBEX, we have a team prepared to answer all of your questions regarding potentially selling your minerals. Here are a few of our reasons to consider selling your mineral rights to PBEX.
The Current State of Oil During COVID-19
Driving around, you can see the impact on gasoline prices that this current crisis has placed upon the oil and gas industry. According to Eia.gov, as the COVID-19 outbreak continued through April 2020. The total of gasoline inventories increased by 7.5 million, exceeding the previous five-year maximum during that week (US Energy Information Administration).
Selling Your Mineral Rights
We have yet to see the full impact on the oil and gas industry as this crisis continues. Over the past few weeks, royalty checks that are tied to the price of oil have been lower than average and are on a steady decline. Many people require cash now, and if you have mineral rights, now would be a great time to sell your estate before the price of oil declines further.
Act Now While the Market is Questionable
Many experts are debating what the real long term impact will be on the oil and gas industry. According to PWC.com, about 84 percent of experts are concerned that we have the potential to experience a global recession. Taking action now may help you in the future, just in case we encounter a long-term economic downturn. Selling your mineral rights may help you in the future for covering business/personal costs, taxes and other cash expenses.
Selling your mineral rights will put cash in your pocket now during this period of uncertainty. The current crisis will likely have long term effects on the oil and gas industry, which makes selling now an attractive option. Want to learn about your options and how you can make cash fast? Contact us today.