I was contacted by a oil and gas rights company, buying rights, asking if I wanted to sell my rights. My husband and I own oil and gas rights in Belmont County Ohio, St. Clairsville, Colerain Township, 42.32 acre, 14% royalty. Our lease was renewed last year for 5 years I know most people say do not sell, but I am curious as to how much per acre companies offering now. The road our farm was on is about a mile long. There is drilling now on our road, about 3 tenths of a  mile away. I have heard people say things like being a part of a pool unit. What does that mean and how can I find out if I am a part of the unit that is drilling on our road now. We do not live in the area anymore, sold the property, kept our gas and oil rights, so it is hard to keep track of what's going on there. Our former neighbors, 10 other farms, told us that there is a pad on the last person's on our roads property, 3 wells. Not sure if we are part of his pooled unit. He leased with XTO, we are with American Energy-Utica, and it is American Energy-Utica that is drilling on his property. Our offers to sale are really low so, for now I won't consider them, just wanted to know what a reasonable offer would be. Thanks

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Marsha I would not sell your gas rights the price of gas and oil is so low right now they wont pay very much the pool declaration should be filed at your courthouse give them the api number which should be posted at the well entrance on the info board it might cost you coup[e bucks for the copies I don't know if you can do it online in ohio hope this helps you BILL

It's interesting how when prices were high everyone said, "don't sell for a fraction of what they're worth, they'll just keep going up."  Now prices are down and everyone is assuming that they will 100% go back up.  Do you realize that there are Marcellus and Utica shale formations all over the world?  Bottom line is this, there is no guarantee.  If you feel the offer is reasonable and you then take that money and invest it elsewhere how much will it be worth in 10 years?  Had you kept them what would you have made in royalties?  Maybe nothing.  Maybe less, maybe more.  However, keeping them leaves several uncertainties:  1.  How much is the government going to take?  2.  How much is the oil/gas company going to withhold for "transportation costs?"  I think in 90% of scenarios, the person who sells now is going to win, unless of course they're idiots and throw all their money away at the casino.

yes its a big decision to sell or not to sell depending on how bad you need the money but I read on this forum more than once that one acre is worth over $100,000 an acre over the life of the well once the acerage is drained why would you sell for a couple grand?

Gebalter you say there are marcellus and utica shales all over the world. If that is the case them why are they here and not everywere. We're do you get that info. Are they as easy to get to as these two. Does it have infrastructure in place.
When you sell its forever and for all formations they are not

Do some homework.  Africa, South America, Asia, North America, Europe and probably Antarctica.  Offshore and more offshore.  They are there.  Anadarko is building a 20 Billion dollar LNG facility in Africa as we speak so they can pump it dry down there.  

Acreage is not worth anywhere near $100,000 over the life of the well.  There are many different investors buying minerals.  If it was worth 100k/acre competition would drive up prices.  In your delusional world 10 acres of O/G is worth 1 million dollars in landowner royalties.  Lets think about this as investors for one second.  If I could make 1 million dollars by simply purchasing someone's OG rights and waiting for a check in the mail why am I not doing it?  Why aren't you out buying everyone's mineral rights if its that easy?  Everyone thinks their O/G rights are so precious and valuable but nobody has the balls to go out and buy them now that prices are down.  The way OG rights are valued is the same way cell phone tower buyout companies do it.  They want to double their money.  Only with Oil and gas there is a hell of a lot more risk.  What if the price stays low?  What if only 2 of my 300 acres are unitized?  What if the company decides withholding 35% of my royalties for transportation costs isn't enough and they decide to start withholding 50%?

So what is an acre worth to an oil and gas company over the life of the well all minerals drained ??
It's worth 100,000 an acre to the oil and gas company not the land owner they are not spending 7 to 10 million to drill a well for pocket change GebrAlter

I think our ingnorant negative friend Gerbralter just likes to spout off about all he knows and how stupid all the landowners are who did not sell their minerals. Kind of sounds like a guy who owns no land to me, probably works in the industry trolling around on here thinking he can impress all of us. And as far as doubling their money its more like making 300% to 400% if possible. Go back to you day job scumbag and leave the site if all you have are negative comments. Guess you were not one of those spoiled brat landowners who inhereted the land from their rich parents Aye ?

I think your right barb companies are spending billions on pipelines and cracker plants and our minerals aren't worth anything yea right

Marsha,

     Learn to use the below ODNR Well Locator map. When you find your well, all of the data for your unit is stored on the dot at the well head.

http://oilandgas.ohiodnr.gov/well-information/oil-gas-well-locator

Select the i icon then click on the dot that is your well head. Everything you need to know about the well and unit is stored at that dot.

There may be someone you can call to walk you through using the map.

By reading the map, I was able to determine who was in the Paige 5H Well unit. The landowners have not been paid, except myself. I have informed several landowners of who to call to collect their royalties. 

Sad but true, I'm doing the work of the Ohio department set up to protect the Citizens of Ohio, the ODNR.

OK, so it's not actually stored there, but it opens a path to the data you are interested in.

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