Mineral Interest Appraisals
Valuation of oil and gas mineral interests using available property, ownership, production, and economic data.
BISMARCK, NORTH DAKOTA
Sound geology.
Thoughtful valuation.
Independent oil and gas mineral interest appraisals grounded in geological analysis, production data, and practical experience in the Williston Basin. We value mineral interests; we do not purchase them.
MINERAL INTEREST APPRAISALSESTATE & DATE-OF-DEATH VALUATIONSPRODUCTION-BASED ANALYSIS
WHAT WE DO
Focused expertise.
Clear, supportable results.
Mineral interests can be complex. Our work provides a reasoned assessment supported by relevant geological, production, and economic information. We do not buy the minerals we appraise.
Estate & Date-of-Death Valuations
Retrospective valuations prepared for estate-related matters and other assignments requiring a specified effective date.
Production & Economic Analysis
Decline curve analysis and supporting economic evaluations, as appropriate to the interests and wells under review.
WHEN AN APPRAISAL MAY BE NEEDED
Valuations for
important decisions.
Whether planning for the future or administering an estate, an independent opinion of mineral value can help attorneys, fiduciaries, families, and owners make informed decisions.
Estate & Probate Matters
Date-of-death and other retrospective valuations for estate administration, probate, and related reporting.
Gifting Mineral Interests
Fair market value opinions to support lifetime gifts and family transfers, including gift-tax planning and documentation.
Trust Planning & Administration
Valuations for establishing or funding trusts, trust administration, and distributions to beneficiaries.
Inheritance & Family Divisions
Documented values to assist with the division or transfer of mineral interests among heirs or family members.
Legal & Financial Matters
Valuations for negotiations, disputes, financial planning, and other circumstances requiring an informed opinion of value.
Other Valuation Dates
Current or historical valuations for assignments with a defined purpose and effective date.
The appropriate scope and documentation depend on the assignment. Tax and legal requirements should be discussed with your attorney or tax adviser.
WHY INDEPENDENCE MATTERS
We appraise minerals.
We don't buy them.
Bakken Appraisal Services provides independent, professional opinions of value for oil and gas mineral interests. We do not purchase mineral interests, so our role is to evaluate the property—not to make an offer to acquire it.
Our analyses focus on the facts of the assignment, including ownership, well activity, production history, geological conditions, and economic assumptions.
OUR APPROACH
Built on the
details that matter.
Every appraisal begins with understanding the mineral interests, the effective valuation date, and the available technical information.
Discuss an assignment01
Understand the assignment
Review the interests, legal descriptions, ownership information, and requested valuation date.
02
Analyze the available data
Consider well status, production history, geological context, and applicable economic assumptions.
03
Document the conclusions
Prepare a clear appraisal report with supporting schedules and technical exhibits as warranted.
EXPERIENCE & CONTINUITY
B/A
Consulting Geologists
Bismarck, North Dakota
ABOUT THE GEOLOGIST
Experience rooted
in North Dakota.
Thomas O. Schumacher
Consulting Geologist
Thomas O. Schumacher graduated cum laude from the University of North Dakota in 1985 with a Bachelor of Science (B.S.) in Geological Engineering, petroleum option. His education included petroleum production decline curve analysis, a fundamental component of oil and gas mineral valuation.
His professional background includes six years with the North Dakota Industrial Commission's Department of Mineral Resources, where he served as Underground Injection Control Supervisor. His responsibilities involved oversight of the permitting, installation, and management of more than 1,000 injection wells throughout North Dakota. He also assisted with oil and gas unit reviews on behalf of the North Dakota Department of Trust Lands to evaluate the equitable treatment of state-owned mineral interests.
Schumacher subsequently worked as a project manager with Barr Engineering on oilfield reclamation projects. In 2013, he established Midcon Resource Group, LLC, a consulting firm assisting oil and gas operators with well location, permitting, and regulatory compliance.
In 2024, Schumacher began preparing mineral appraisals under the guidance of Jeffrey B. Jennings of Harris, Brown & Klemer, Inc., as part of the transition of the firm's appraisal work.
His professional memberships include the American Association of Petroleum Geologists, Rocky Mountain Association of Geologists, Landman's Association of North Dakota, and North Dakota Geological Society.
Through Bakken Appraisal Services, Schumacher draws upon his geological education, regulatory experience, and petroleum industry background to provide independent mineral interest appraisals supported by production analysis and economic evaluation.
Bakken Appraisal Services is a registered trade name of Midcon Resource Group, LLC.
WHAT CLIENTS RECEIVE
Detailed analysis.
Documented conclusions.
Bakken Appraisal Services prepares independent oil and gas mineral appraisals supported by geological, production, and economic analysis.
When sufficient historical production data is available, individual wells are evaluated using decline curve analysis to estimate future production. For newer wells or properties with limited production history, representative wells from the surrounding area may be considered, with appropriate adjustments for uncertainty.
Each appraisal considers the property's characteristics, available information, and requested valuation date. Report length and supporting documentation vary with the complexity and number of mineral interests being evaluated.
Completed appraisal reports generally include
- A written appraisal letter summarizing the valuation and conclusions
- A detailed recapitulation sheet identifying mineral interests and their respective values
- Land plats illustrating the location of mineral interests, where practical and appropriate
- Well information and scout tickets
- Individual well production decline curves
- Supporting economic evaluations
FREQUENTLY ASKED QUESTIONS
Answers to
common questions.
Questions about an assignment? We're happy to discuss the details.
What information is needed to begin a mineral appraisal?
Helpful information includes the legal descriptions of the mineral interests, ownership documentation, and any available royalty statements or well information. Bakken Appraisal Services can review the available records and help determine what additional information may be needed.
Can mineral interests be appraised as of a previous date?
Yes. Mineral appraisals are frequently requested for historical valuation dates, including dates of death, estate administration, gifting, and other financial or legal purposes. The evaluation considers information and circumstances relevant to the requested valuation date, including historical oil and gas pricing.
How long does a mineral appraisal take?
Completion time depends on the number of mineral interests, the availability of supporting information, and the complexity of the assignment. An estimated completion schedule can be provided after an initial review.
Does Bakken Appraisal Services purchase mineral interests?
No. Bakken Appraisal Services provides independent mineral appraisal services and does not purchase mineral interests. Our role is to provide an objective evaluation of the interests being appraised.
Can BAS evaluate large or complex mineral holdings?
Yes. Appraisal assignments may involve individual mineral interests or extensive holdings associated with numerous producing wells. Each assignment is evaluated according to its particular scope and available supporting information.
GET IN TOUCH
Let's discuss
your appraisal.
For an initial inquiry, please include the general location of the mineral interests, the requested effective valuation date, and any available property information.
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