Hello folks I'am posting this to give folks a ideal of the value of their mineral rights here in Greene County.
I leased my Marcellus shale five years ago for five thousand dollars an acre recently the company elected to extend the lease for another five years paying the oringal bonus money again.
So that equals 10 thousand an acre.
I recently signed a lease with a land group out of WV for 4500.00 an acre for the Utica. Only the Utica.
All that togther equals 14500.00 an acre in the last five years and I still have everything between the Utica and Marcellus still unleased along with everything beneath the Utica still unleased.
Iam posting this for all the people contemplating selling their mineral rights here in Greene County PA DONT!!!!!!!!
There worth way more then you will ever get paid for them upfront.
What are the offers to buy mineral rights?
Less tax how much did you make ?
You are one lucky man. I am happy for your success. Your area is very hot given that you have Marcellus overlying the Utica. and both have good thickness. My land in Venango County has Marcellus that is not commercially viable because of insufficient thickness. There is decent thickness to the Utica and it seems to be clearly wet gas based on the Allam well. No oil and no real infrastructure has meant no new leasing of any significance for the last year and a half. Rather than be envious I am happy to have what I have. Your geology is superior whereas mine is merely good. Companies want to get the best return on investment, which is why your area is getting leased and drilled preferentially. I take some comfort int the fact that drilling and fracking technology are advancing, and companies by trial and error are getting better at maximizing recoverable assets. Perhaps when all is said and done, the last shall be first and the first shall be last. In any event, best wishes for a happy holiday season and a prosperous 2015.
I had no idea mineral rights could be split.
what u said. how did that split come about...if you don't mind me asking