Value of OGM's in Crawford County

I have 60 acres in Eastern Crawford County and own all OGM's.  This Property is held by production (1980 lease) by Range Resources and has one straight gas well on the property.  The well is not very productive now but Range will keep it perking as long as they can because the lease expires when it no longer produces.  I have been approached by a landman representing Mountaineer Minerals, LLC. asking if I would sell my OGM's to them.  He is aware that the property is held by production.

I am just starting to research this proposition and welcome any thoughts on the value of these rights or any other thoughts on the subject.

'Thank you.

Mike.

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0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on March 26, 2014 at 11:52am

Well, the first question is how much did he offer?  That's the baseline for understanding what the market rate is.  You're not looking for the value of the rights, you're looking for the price.  Two very different things.

Permalink Reply by Mike Dubiel on March 26, 2014 at 11:55am

He is in the process of crafting an offer but says typically $6500 an acre for similar situations.

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on March 26, 2014 at 4:04pm

That's a huge number for Crawford county.  Huge.

Permalink Reply by Edward Sekerak on April 2, 2014 at 12:46pm

I am a Pa. real estate broker, State Certified General Real Estate Appraiser , landowner and own some gas rights (HBP) in eastern  Crawford and Warren counties. I would be very interested in seeing where the  "typically $6500 an acre for similar situations" are.

Permalink Reply by Trapper on March 26, 2014 at 11:59am
Possibly a "shell" company owned by Range. Be very wary of these Trojan Horses!
Permalink Reply by Mike Dubiel on March 26, 2014 at 12:03pm

Ok.......How so?

Permalink Reply by james on March 26, 2014 at 3:45pm
Mike, do you have contact info. For this guy? I have 56 acres of unleased property with no gas wells that I would be interested in hearing what he would offer? Thanks.
Permalink Reply by Trapper on March 26, 2014 at 6:30pm
My position is to steadfastly hold my minerals close to my chest. There are many who wish to purchase mineral rights. There was banter a while ago on this site pertaining to oil cos. trying to buy mineral rights thru minion companies.search the archives and read up on the topic. Unless you are desperate for cash you may want to think twice.
Permalink Reply by Dave on March 26, 2014 at 6:54pm

I tried to search for this company and nothing comes up.  Be very careful with them.

Permalink Reply by james on March 26, 2014 at 8:56pm
Jim, I would be very surprised if this was true, nobody is doing much of anything in Crawford County and somebody is going to offer $6500 an acre for HBP land???? There are 100s of landowners would sell their rights at this price, me included, doubt there's anything but someone playing games with the board IMO.
Permalink Reply by Mike Dubiel on March 27, 2014 at 7:00am
Well guys, I'm only telling you what I was told. Like I said, I have no offer yet. I will post the information once an offer is tendered.
Permalink Reply by Mike Dubiel on March 27, 2014 at 7:18am
I can't find anything on Mountaineer Mineral LLC. I have found, however, a LinkedIn page for the landman and he does apparently have a landman history. His chronology does not quite add up though. Maybe I am being scammed. I'll keep you all posted with more as it unfolds. If it is ligit. I will spill all the beans on this site.

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