Current rates for Selling mineral rights?

We have acreage in union township and have been approached to sell all or part of our rights for about 7000 dollars an acre. This is quite a bit more than other offers we had received. Can anyone tell me if this is a good offer? Any suggestions for how to proceed would be appreciated.

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Permalink Reply by jonathan M. on November 22, 2013 at 12:36pm
What company offered the 7k/acre? What is you royalty in lease?

Thanks
Permalink Reply by Philip Brutz on November 23, 2013 at 5:22am

I was just offered $10,360 an acre in Guernsey co., Millwood twp.

I would think that Carrol county should be worth a similar amount.

Permalink Reply by mary ellen on November 23, 2013 at 5:53am

What company was that? 

Permalink Reply by Lisa Johnston on November 23, 2013 at 6:15am
I'm not sure what company. It was a letter from our attorney. We get only 12.5 %.
Permalink Reply by Dennis J on December 2, 2013 at 9:43am

Can you tell me who made that offer, I'm in Guernsey co but only have 39 acres of land.

Permalink Reply by Philip Brutz on December 3, 2013 at 2:42am

I'm sorry but I shredded the offer.  

Permalink Reply by Samuel J. Orr on December 12, 2013 at 12:57pm

You might want to subdivide the property into two parcels. The one with 3 quarters of the land you could hang onto with the mineral rights, and the smaller one you could sell all the mineral rights but keep the surface.  This might be better than selling 25% of the mineral rights on the entire property.

Permalink Reply by evan on December 12, 2013 at 1:01pm

How is that better not that I don't believe you but for what reasons

Permalink Reply by brat on December 11, 2013 at 5:45am

Tree Farmer... Sounds like you have done some due diligence on the selling of mineral rights.  Apart from the obvious cap gains taxes and possible loss of future royalties on the acres sold,   what do you think are the other downsides to selling a portion of one's gas/oil rights?  Thanks in advance

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on December 11, 2013 at 8:20am

Cap gains isn't a downside, it's an upside.

Permalink Reply by scott peterson on December 11, 2013 at 9:46am

Big one at that.

Permalink Reply by brat on December 12, 2013 at 3:29am

Hi Marcus,  Maybe a bit too early in the morn., but I'm still trying to fiqure out how paying taxes on those capial gains would be an upside.  I realize we all have to share with the tax thing.  Respectfuly, Brat

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