Bounty Minerals
I also recieved a letter for Bounty Minerals.
I called the number and got no answer, I than emailed them and got an immediate response.
They are offering a minimum of $3000 per acre to purchase your gas, oil, and mineral rights to your property (minimum parcal of 20 acres. The person I spoke to said repeatedly if that is not enough money, name a price and I will see if I can get it approved. If you are currently leased, you will sign over any future roality payments to them. I did recieve a contract from them, and it reads like a very bad story. Including other things, it gives them all of you mineral (and gas and oil) rights, (less coal) and free use of your surface to explore the minerials rights. This is a one time deal, you sell your mineral rights on Tuesday and they can be strip minning on Wednesday.. Bad deal as far as I am concerned...
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Permalink Reply by mark o on
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i was contacted by them also. 7k per acre if you are in a unit. same story...if not enough name a price and they will see if they can get it approved!
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Audie, It's such a bad deal that I've never called any company that has sent me letters asking to share my mineral rights or buy them. I'm glad you see how bad the deal is. I hope you have an idea of how much your Royalties will be worth when the production starts, surely $3000 per acre per month in the Marcellus, and a whole bunch more in the Utica.
A landowner was in cash trouble a month back and found out that it would be best to make a relative a partner and sign over a percentage of mineral rights based on how much money he needed and the amount his monthly Royalty check will be worth. He dropped the idea of selling his minerals after a few short discussions. Ron
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