I live in Belmont County. I own 170 acres and am under lease to Gulfport. About 100 acres of my land is "landlocked", situated between interstate 70 & Gulfport's Eagle Creek well so it is very unlikely it will ever be drilled. I'd heard that the other 70 acres might be including in a drilling unit in 2021.
I've received an offer to buy the mineral rights for the whole 170 acres, not just the 70 acres. I'm trying to decide whether to sell or not. One consideration is how much I might make in royalties if I were to wait & they'd actually drill under the 70 acres.
I'd like to see if any people could give me an estimate of what a monthly royalty check might be per acre with a 15% royalty percentage. That might help me decide.
I know there are people out there who say you're a fool if you ever sell your oil & gas rights. I'm not interested in that noise. I'd just like to have some guess as to what I might receive in royalties so I could weigh that against the offer of a sure thing now.
Thanks for info. It definitely helps to show what royalties can be worth. This is the kind of helpful sharing that can make a difference in making an informed decision. Thanks again.
so did you sell?
Don't do anything. No one knows what US O&G is worth to Landowners today, but we will know tomorrow.
Corruption will end, then EVERYONE will know what the O&G companies have been hiding.
The plan was to make US Landowners hungry, then give them a little something for their land, while stealing from them all along.
This is what happened to West Virginia Coal Minerals, stolen in the early 1900s. Oil and Gas companies are no different than Coal Companies.
Everything will change when Corruption is removed from Our Country. This is a campaign promise by Our President Trump.
Count on it, Promises made, Promises soon to be Kept.
My property comes right up to the southern edge of the Eagle Creek well but is right outside of it. Five hears ago I sold 1/2 my mineral rights to some people in Colorado. It was the best thing I ever did. The worst was not selling all of it. Now, I can't give the other half away because my property is split by I-70 and no drilling can take place under the interstate. Everybody seems to realize this except the people in Colorado didn't. Right now, I'm waiting for either another ill informed buyer or for them to change the law about drilling under interstate highways or state land. I guess they're working on it. Anyway, I'm stuck at the moment.
They'll have it figured out after 10 more years of meetings.
yep. when's the next meeting? july? What year?