I don't know about anyone else but it seems all offers to buy my minerals have stopped. I was getting at least one offer a week to buy my minerals here in Wills Township in Guernsey County. But I have had none in the last month and a half... What's going on? Has anyone else experienced the same. I know oil prices are down but it seems that the mineral rights are still a valuable commodity. Are they running out of money or what?
Yep, if you don't get a release they keep your acreage indefinitely and will hold it under your old agreement.... As property value increases and things change they can use the old agreement to benefit themselves basically low ball you....
Thank you so much for the valuable information. I will talk to the agent on Tuesday. Barb
Correct. A release is a good thing to have.
Recovery from this market may be years away....but eventually it recovers. Don't let them sweat you out.
62,000 per acre, was that a typo Lance?
yes sorry, should have been 6200
"What's going on?"
Um, global armageddon in the energy markets? MHR is going to be delisted from the NYSE. Halcon is this close to going bankrupt. CHK is leveraged to the sky. American Energy is an illiquid, debt-fueled nightmare. The shale players relied on three things: huge technological advances, stable commodity prices, and really cheap debt. Commodities are in the toilet and will remain there for some time. The seemingly-endless supply of cash through junk bond issues has ended. The game is over. At some point the cycle will restart, because there's value in the ground (assuming proper market conditions) but this shakeout is going to get a lot worse before it gets better. If you wanted to sell your mineral rights the best time to have done it was when offers were abundant and high.
Is that in PA.?
Are you in a unit yet? I live in Ohio and things have slowed down to a crawl here compared to 1 year ago... I'm not in a unit yet but I heard once you are your property value shoots up.. What kind of offers have you had? My highest was10k per acre
Ok, thanks for the info... Greene county borders W.VA right?