$14,500.00 an acre
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.
Views: 11047
Replies to This Discussion
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Permalink Reply by Lynn mudder on
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I am also in Greene, Aleppo twp, I have to agree with rmc. Things look good here right now. The figures that you are putting out are quite possible.
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Permalink Reply by rmc on
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We took a little different approach on the unit size restriction.
We didn't try to limit the unit size at all it can be as large as they want to make it.
Only catch is one well can only hold 120 acres plus 10 percent.
So they can drill as many wells as they want.
Example 10 wells drilled would equal 1200 hundred acre unit plus the 10 percent 1320 acres.
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Permalink Reply by cj wyalusing on
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Less tax how much did you make ?
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Permalink Reply by rmc on
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Rember CJ I still own it so I'd rather pay the maximum federal tax rate then pay a twenty percent capitol gains tax and no longer own the mineral rights at all.
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Permalink Reply by rmc on
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Barry I haven't been receiving any offers lately. Last offer I had was ten thousand an acre which included all depths.
I don't believe that company was sincere with that offer.
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Permalink Reply by Samuel J. Orr on
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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.
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Permalink Reply by Thomas Betlyn on
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I had no idea mineral rights could be split.
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Permalink Reply by john p halloran on
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Oh yes every strata can be seperated.
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Permalink Reply by george namie on
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what u said. how did that split come about...if you don't mind me asking
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