"They stated they made a mistake, waited until near closing to advise me of that. That was the last I heard from them."
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Cardinal Mineral and Land Butler Township
Started this discussion. Last reply by John P Sep 14, 2023. 13 Replies 0 Likes
We were contacted several months ago by Cardinal Minerals regarding a purchase of minerals. Contract offered a respectable amount and we signed. Closing date is tomorrow and they have not notified us…Continue
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tacoma7583 replied to John P's discussion 'Cardinal Mineral and Land Butler Township'"Did they give you any reason for the decrease?"
John P replied to John P's discussion 'Cardinal Mineral and Land Butler Township'"Appreciate your insight and response !!"
Andy replied to John P's discussion 'Cardinal Mineral and Land Butler Township'"I would hold out. Once they drill Your monthly checks will definitely add up to more than what was offered . What I’ve seen checks from the first 6 months were 1,000 per acre per month. There is a good possibility they will have everything in…"
John P replied to John P's discussion 'Cardinal Mineral and Land Butler Township'"They offered $1300/ acre less than what was on the contract. There were no defects on my end."
tacoma7583 replied to John P's discussion 'Cardinal Mineral and Land Butler Township'"Just curious did they find something with your ownership of the minerals or just not want to pay up?"
John P replied to John P's discussion 'Cardinal Mineral and Land Butler Township'"It did not go through."
Andy replied to John P's discussion 'Cardinal Mineral and Land Butler Township'"John ,
Did the deal end up not going through then?"
Joe C. replied to John P's discussion 'Cardinal Mineral and Land Butler Township'"We get this in West Virginia as well. Mineral companies will give you big numbers without valuing the area out first and then back out of the PSA at the last minute. I had that happen in Tyler Co, WV last year. I signed a PSA, took 3 months and…"
tacoma7583 replied to John P's discussion 'Cardinal Mineral and Land Butler Township'"I'm in Knox township, they've contacted me a few times, upping the offer $3500 per acre on currently producing land and $7,000 for unleased. Looks like they record the mineral deeds as GHR holdings, same mailing address. …"
John P replied to John P's discussion 'Cardinal Mineral and Land Butler Township'"I was told our area was 2 years out for drilling... offered 7, probably good they backed out !!"
Andy replied to John P's discussion 'Cardinal Mineral and Land Butler Township'"John,
Are currently in a well unit ? Just curious what they offered. It should have been 10,000 + if you sold your mineral rights . Considering this area is very desirable . I’ve heard of more than that offered ."
Joe C. replied to John P's discussion 'Cardinal Mineral and Land Butler Township'"The Petroleum Landman who owns AMCO Oil and Gas knows every operator and mineral companies in the Appalachian basin. I’ve had his company help me in the past. I highly recommend him. www.amcooilgas.com. 681.209.8964, ask for Nick. "
John P posted a discussionCardinal Mineral and Land Butler Township
We were contacted several months ago by Cardinal Minerals regarding a purchase of minerals. Contract offered a respectable amount and we signed. Closing date is tomorrow and they have not notified us of anything. Failing to return calls. Has anyone else had any dealings with them ?See More
Profile Information
- What is your role?
- Landowner
- Which state(s) are you following?
- Ohio
- What shale plays do you follow?
- Marcellus
Comment Wall (1 comment)
- At 8:38am on March 18, 2014, James Yoder said…
Hi John,
My family did sell our rights. We sold to Keystone Buckeye Energy out of Pittsburgh. Very professional, paid us on time, very smooth process. I can provide you a contact number if you'd like.
James
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