was told today buy a friend of mine that someone he knows is selling 40 acres of mineral rights in Harrison county (clendening lake area) for 15000 an acre for an old 12,5% lease. anyone heard offers like this?
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Im about half way thru my 5 yrs. so that factored into my decision to hold out too, When you look at all the variables, pros, cons, etc it is mind blowing. I think on the Trenton question it is a definite good option to consider & yes it will detract from the selling value & potential offers.
I think for most of us this is on our minds constantly. I have to say though, this is the best problem i've ever had..lol.
1. Everyone says they've "Heard" of 19K, 23K etc., though has anyone been paid this yet? Having an "Offer" and actually having the cash are 2 things on completely opposite ends of the spectrum. Even if an offer were made, I assure you there isn't an investor in his/her right mind that would pay 19K-23K for non-producing acreage. It may have hit 19K through KWGD, though those days have come and gone, it won't happen again for non-producing acreage. Don't forget, when it comes to mineral purchasing, competition drives the price.
2. Whomever said they are "Holding out for 40K per acre" god bless you. I don't smoke anymore (Too old), though if I did, I'd be direct messaging you for your address immediately.
3. The Trenton/Black River will never be produced efficiently, nor will it ever be profitable in our lifetime. If that formation were so ideal, drilling companies would be drilling that formation, then going back to the Utica, thus deeming the Vertical Pugh Clause you pushed to have in your lease worthless. As we all know, they aren't.
4. I understand the obsession some of us fall into with the shale play that has now encompassed us. That said, it has caused many of you to lose your sense of reality, especially with the valuation of your mineral rights. Remember, just 10 years ago, 98% percent of us would have sold our minerals and land for $1,500-$2,000 per acre, maybe less. My pappy always used to tell me..."PIGS GET FAT, HOGS GET SLAUGHTERED". If only more of us heeded such wise words.
Nice try miineral buyers. The cat's out of the bag.
Mary Ellen,
There's a balance between the sharps trying to pull a fast one and the rumor mill and its ability to get out of control quickly.
Kind of looks like some slanted propaganda to me too..... joined the website today just to post the above. Also listed as a gas professional..................some of what you say is true but i believe you have an agenda sir..............
Yeah, I figure my place is ruined. There will surely be a well within hearing distance or seeing distance and probably gathering lines, etc. No more peace and quiet, which is the only reason I bought the place. Fortunately, I do not live there. But this was bigger than me and it will go on if you take the money or not. Sad, really the whole area is ruined. Where to go where it isn't.
Some folks, alot Amish have been selling the minerals then doing a 1031 tax deferred exchange on new land out of the area where they can live peacefully w/o the hub bub again.
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