???What is acreage going for ???

I have 50 acres of land that I have received an offer on. It is located in Carroll County and it has a lease on it that expires in September 2015.  I am willing to sell with mineral rights but I have no ide what a reasonable per acre cost would be. The auditors office would not give me a figure and I called a realtor, but she has not gotten back to me...after several days...

Anyone out there have an idea> or who I should ask?  I would consider $6k per acre...   or should I wait as the lease expires soon??????

An assist here please...                Steve

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Permalink Reply by Paul Martinelli on June 25, 2015 at 1:21am

Which township in Carrol County, what is the location?

Who holds the lease now?

What type of land is it (tillable/woods/recreation)?

IMOP........6K is not unreasonable to expect.

Permalink Reply by Suzy on June 25, 2015 at 6:50am

Hi Steve ...  I would wait ... if you have land and the mineral rights ... hold on and see what your options are.

I am a Realtor in Arizona and it is doubtful a Realtor will know anything about what Oil and Gas Leases are worth. This fracking is still new and will be expanding into the future.  Hold on to what you have and don't sell for cheap now. You only get one time to sell.  If you own the land and mineral rights you have two ways of getting royalties if the big boys want you.  Wait.  

Permalink Reply by Chris Stevenson on June 29, 2015 at 8:52am

I have 105 acres that is shared by four other mineral owners in Marshall County, WV--smack dab in the hot zone for gas. I have been getting offers to buy just the mineral rights. My percentage of ownership is about 21%. I'm wondering what is a reasonable price to sell just the mineral rights. These offering companies seem very mom and pop small. Could I sell to Utica or Exon, or one of the bigger companies? Gastar has leased all of it. They haven't offered to buy yet, and they seem to be a medium sized company.

Thanks,

Chris

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