Sale of a Portion of Oil & Gas Rights

We are interested in selling a portion of the oil and gas rights associated with the land we own in Coshocton County and would appreciate learning more about this approach.

Has anyone taken this approach and if so, how is this type of a transaction accomplished -- legal document? 

If an opportunity arises to sell the land, we would want to retain 49% of the oil and gas rights. 

Has anyone opted for this approach?

What type of legal document is required for this?

What about royalties?

Any information, shared experience or advice will be most appreciated.

TIA

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Replies to This Discussion

Permalink Reply by Philip Brutz on October 31, 2014 at 8:39am

There is not much drilling activity west of I-77.

Do you currently have a lease? 

Permalink Reply by Patricia Moss on October 31, 2014 at 8:53am

Acreage is free of any lease.

Permalink Reply by Philip Brutz on November 1, 2014 at 6:01am

How many acres do you own?

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on October 31, 2014 at 2:42pm

Patricia,

    Pick up some oil & gas free magazines and see who is advertising for purchasing a portion of minerals. Also watch your mailbox, most of us are getting flyers to help take the burden of potential wealth off of our shoulders.

As you find these companies, go pick their brains, as if you were getting estimates for a car repair. I'm sure they each have their own approach to buying minerals.

After talking to several companies and listening to the advice given here, you should have an idea of the best route to take, maybe even not selling.

Permalink Reply by jonathan M. on October 31, 2014 at 5:48pm
Ron,

While that sounds like good advice it's HIGHLY unlikely they are receiving any flyers to purchase minerals out in Coshocton county. I would doubt highly that she could find a buyer for more than couple hundred dollars an acre. Wish you best of luck though.
Permalink Reply by James Vanderink on November 1, 2014 at 1:25am

Patricia, hold off if you can in Clark Twsp. Anadarko has walked away from the well in Mill Creek Twsp assigning/bill of sale to Artex. They will need to do something with that pad/well soon. Produce it or plug it, A small company out of Canfield

http://gomarcellusshale.com/forum/topics/hawke-inc-us-petroleum-cos...

has a permit to your south to drill a Utica well so maybe things will pick up with all the technologies being developed. Ive heard that one of the larger companies is looking at a spot in eastern Coshocton(Adams/Crawford Twsp area).

jonathan M, at a couple hundred an acre for clear unleased Coshocton acreage I will go to the bank and set up a table at the courthouse and buy all I can. My Grandkids will appreciate it in the next 5-15 years.

Permalink Reply by jonathan M. on November 1, 2014 at 3:04am
James,

I'm sure you would find many sellers out there pretty easily. Not saying one day they may not be valuable. Just not today.
Permalink Reply by Bluejack Farms on November 1, 2014 at 3:18am
James, the first problem you will have is finding anyone there that is not leased or HBP.
Permalink Reply by James Vanderink on November 1, 2014 at 3:24am
Let's see. Anyone willing to sell their unleased, non HBP acreage for $200/acre in Coshocton or Knox County please inbox me. I have a young lady at V, S, S and P LLP that still owes me for college that will do the title crap for free. I hope!
Permalink Reply by jonathan M. on November 1, 2014 at 3:44am
Leased or unleased. At this time not worth much... Hopefully that changes but could be long time til we know
Permalink Reply by James Vanderink on November 1, 2014 at 4:06am

Maybe you should contact Chevron and see what their intentions are.

Permalink Reply by jonathan M. on November 1, 2014 at 4:26am
Why would I contact them? I don't own anything in coshocton. Please tell me what their intentions are you seem confident about them.

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