My deceased father had mineral rights to a parcel of land in Bradford County. . . about which he told us (kids) nothing. We have just been approached by Chief Exploration and Development to lease the property. They propose to pay us 1/8 of the revenues from the sale of either gas or oil. My questions about this proposal are:
Is this amount (1/8 of the revenues) low, normal, or high?
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What makes this site so great? Well, I think it's the fact that, quite frankly, we all have a lot at stake in this thing they call shale. But beyond that, this site is made up of individuals who have worked hard for that little yard we call home. Or, that farm on which blood, sweat and tears have fallen.[ Read More ]