Ohio Carroll County Rose TWP Farm sells with mineral rights !!!

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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Permalink Reply by Dexter Green on September 9, 2014 at 5:45am

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. 

Permalink Reply by Todd on September 9, 2014 at 4:03pm
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
015334grltd9mPermalink Reply by 015334grltd9m on September 9, 2014 at 4:40pm

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.

Permalink Reply by The Rooster on September 9, 2014 at 5:59pm

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

Permalink Reply by evan on September 9, 2014 at 11:30pm

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..

Permalink Reply by Jimmy Wilson on September 9, 2014 at 11:49pm

Who is the auctioneer ? Are there signs up Evan ?

 

Permalink Reply by evan on September 10, 2014 at 5:01am

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

Permalink Reply by Dexter Green on September 10, 2014 at 2:45am

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

Based on what? 

Permalink Reply by The Rooster on September 10, 2014 at 3:53am

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

Permalink Reply by Dexter Green on September 10, 2014 at 4:00am

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

Permalink Reply by scott peterson on September 10, 2014 at 2:15am

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

Permalink Reply by Adam Todd Lucey on September 10, 2014 at 8:00pm
What's the coal rights worth, can you believe he also got those????

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