Possible to lease mineral rights on 3 acres in Belmont, Ohio?

I own about 3 acres of land in Belmont, Ohio and have gotten some interest from oil companies in purchasing mineral rights.

I would like to lease the rights, but realize this is a small amount of property.  I need some advice!  How should I proceed with this?

Thanks,

Ellen

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0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on September 4, 2013 at 3:57pm

Find out who owns the leases around you and call that company.  Tell them your acreage and where you're located.  They may eventually need your 3 acres to fill out a unit.  That means it's worth money to someone.

Permalink Reply by mlb on September 5, 2013 at 6:00am

Yep, it's entirely possible.   I leased 2.2 acres, .63 acres and .5 acres that were all separate from an additional 80 acres I have.  And there was no contingency that I lease 80 before the others, in fact I leased those 1st and then held out on my 80 acres for quite some time. 

Every area is diff but if they expressed interest then prob worth looking into.

 

 

Permalink Reply by Matt N on September 5, 2013 at 11:07am

Please contact me at mlnorman68@msn.com

Permalink Reply by Jim Litwinowicz on September 5, 2013 at 2:51pm

You said "purchasing" which is vastly different than leasing.  Purchasing means you will be paid once and never, ever get another penny for leasing, drilling, and/or royalties.

 I don't recommend selling the rights unless you really need the money. Some companies offer this hoping the owner does not know the difference.

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