Offer to Buy Rights in Gilmer County WV
Recently we were approached by a landman to purchase mineral rights to a substantial tract that our family owns in Gilmer County. The offer looks big, but seems low on a per acre basis, compared to some numbers I have seen. The family has owned these rights for over 100 years and we are no rush. From the research I have done there are not many Marcellus wells this far south yet. This is the first offer we have received to buy our mineral rights in many years. We have held off before. any thoughts and advice?
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Permalink Reply by Andrew Blackley on
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Jim:
In this case it is a collection of parcels that were assembled by our great grandfather back in the first WV oil boom. On these we have just the mineral rights. There are several played out and plugged wells. On some there are full ownership, others have 1/4 or 1/2 interest, but the total is in the hundreds.
We were offered around $650/ac which seems extremely low.
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Permalink Reply by DSFS on
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For that area it is actually a competitive price.i have acreage in Wood County so curious to which company is offering?
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Permalink Reply by Bill Barnaby on
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100 was a competitive price 4 years ago in Belmont Ohio, now it's $7500. I would lease, never sell
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