The Transaction Timeline

What to Expect — An Honest Overview

Selling mineral rights is not like selling a house. There is no MLS listing, no open house, and no bidding war. It is a private transaction between you and the buyer, governed by oil and gas law and facilitated through a title company. Most transactions close in 30 to 60 days, though more complex interests with title issues or multi-party ownership can take 60 to 90 days.

Here is what each phase looks like when you work with Sagebrush Management Group.

Phase 1: Initial Contact (Day 1)

The process begins when you reach out to us — either by submitting our online valuation request form, calling us directly, or responding to a letter or Personalized URL (PURL) we sent you. At this stage, we need very little information from you:

• Your name and contact information
• The state and county where your minerals are located
• Optionally, a general sense of your acreage or township/range

You do not need legal descriptions, deeds, or division orders to get started. We handle all research from this point forward.

Phase 2: Engineering Evaluation (Days 2 to 14)

This is where the real work begins. Our petroleum engineers pull production data from state regulatory databases, identify every well associated with your potential spacing units, and build a technical valuation model that includes:

• Historical production analysis and decline curve fitting
• Current operator activity — permits, completions, DUC wells
• Commodity price assumptions using NYMEX forward strip data
• Net present value (NPV) calculation with appropriate discount rates
• Comparable transaction analysis from recent market activity
• Upside potential from undeveloped locations or formation stacking

During this phase, we may contact you with follow-up questions about your ownership — for example, whether your interest was inherited, whether it is held in a trust, or whether there are known title issues. These details help us refine the valuation.

Phase 3: Offer Presentation (Days 14 to 21)

Once the engineering evaluation is complete, we present a written offer letter. Unlike many buyers who quote a single number with no supporting analysis, our offer includes a full disclosure of the methodology behind it:

• The specific wells and spacing units evaluated
• Production data sources and decline model parameters
• Price assumptions and discount rate applied
• Per-NMA and per-NRA price metrics for transparency
• Any risk adjustments or title contingencies identified

There is no expiration pressure. We give you time to consider the offer, consult with family members, speak with an attorney, or compare our offer with others you may have received. We are confident in our pricing because it is grounded in engineering — not in hoping you will sign before asking questions.

Phase 4: Acceptance and Title Work (Days 21 to 45)

If you accept our offer, we proceed with formal title due diligence. This involves ordering a title opinion from a qualified oil and gas title attorney (or performing the work in-house with our title team). The title examination accomplishes several things:

• Verifies the chain of ownership from patent to present
• Confirms your net mineral acres and any encumbrances
• Identifies any title defects that need to be resolved (missing probates, unreleased mortgages, etc.)
• Confirms the current lease status and royalty rate

If title defects are discovered, we work with you to resolve them. In many cases, defects are minor and can be cured with an affidavit, a corrective deed, or a probate filing. Sagebrush MG often covers the cost of curative work for straightforward issues.

Phase 5: Document Preparation (Days 45 to 50)

Once title is clear, our legal team prepares the conveyance documents — typically a mineral deed or assignment. The documents are prepared in compliance with the recording requirements of the specific county where the minerals are located and are reviewed for accuracy before being sent to you for execution.

The closing is facilitated through a reputable title company. You will receive the documents via mail or secure electronic delivery along with detailed instructions for execution and notarization.

Phase 6: Funded Closing (Days 50 to 60)

Upon receipt of your executed and notarized conveyance documents, we fund the closing via wire transfer. Your proceeds are deposited directly into your bank account — not a check, not a sight draft, and not a promise to pay at some future date.

Once the wire is confirmed, the conveyance documents are recorded at the county clerk's office. We then file a change of ownership notification with the operator to redirect future royalty payments (or terminate them to you, if applicable).

The entire transaction is complete. You have received your funds, the minerals are transferred, and there are no further obligations on your part.

Timeline Summary

For a standard, clean-title mineral interest, the process typically takes 30 to 60 days from initial contact to funded closing. More complex situations — multi-state interests, clouded title, trust or estate ownership, or interests with pending litigation — may require 60 to 90 days. We always communicate timing expectations clearly at the outset so there are no surprises.

What We Never Do

• We never close with a sight draft or bank draft
• We never assign our contract to a third party
• We never add hidden contingencies after you accept
• We never pressure you with artificial deadlines
• We never reduce our offer after title is examined (unless a material defect is discovered that was not previously disclosed, and even then we work to resolve it)