On Saturday September 6th 158 acres of land and 160 acres of mineral rights were auctioned off by Kiko Auctioneers. The property is located 3 miles north of Atwood lake and is partially in the Ramsey Pad pool signed with Chesapeake. The entire property went for $7500.00 per acre for a total of $1,200,000.00. Here is the question.........good price? Fair price? Low price?

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I'd say it's a fair price since that's what someone was willing to pay and someone else was willing to take it. 

Gerald,
They gave their mineral rights away.
The land itself without the associated oil & gas is worth $1.2M.
I wonder how much of their property is included in the Ramsey unit?
Todd

Back in November and their is a post about the Kiko auction of 1000 acres that we were associated with.  $5000/ac minerals, $5000/ac surface with a Hilcorp 12.5% lease.  Most knew the pipeline to the cryo in New Middletown was funded.  A few months ago was aother Kiko auction in W Mahoning, $7500 /ac surface only.  IMHO, someone got a fantastic deal.

mineral rights alone should have went for $7500 an acre. when will people start educating themselves????

There's an auction coming up in my area on the 20th.  I'm anxious to see what it brings. It's a 40 acre farm , mineral rights sell. All 40 acres are in a CHK unit drilled with one lateral so far.  Can't wait to see what it brings..

Who is the auctioneer ? Are there signs up Evan ?

 

Yeah Jimmy it's Kaufmann auction and there are signs up and its on their website.  Matheney is the name of the auction 

"mineral rights alone should have went for $7500 an acre."

Based on what? 

based on gateway minerals is offering 7500 an acre to buy mineral rights in that area!!!!!

Are they?  Because if that were true then the statement would indeed be accurate. 

Buyer got one hell of a deal.....way low!

What's the coal rights worth, can you believe he also got those????

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