Would you buy land w/o mineral rights?

Would you buy farm land w/o mineral rights or royalties? and if so what would you pay for it?

The 3 I have found sold the land 57% less than the apprasied value.

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Permalink Reply by Billy Park Whyde on February 20, 2012 at 1:02pm

My original lease lease gave me 2000 cublic feet of gas per well if the gas was being sold off property but unlimited if it wasn't. Was kind of neat making maple syrup using free natural gas along with using it in a cutting torch! 

Permalink Reply by Mike Filer on February 21, 2012 at 11:17am

Tell me where I can sell my 89 acre farm with OGM's. We did not release last year and PGE had to surrender the lease.

Permalink Reply by Billy Park Whyde on February 21, 2012 at 11:25am

 I would hold on until the production reports in Ohio come out in March.  That might give more value. You could probably make the right contacts to hold a live on line auction ( with a starting price)  which might give you a higher amount if it gets the attention of more investors such as in Texas even international investors. However I would suggest you might think about your neighbors as they may interested and given a first crack at it.   

Permalink Reply by Mike Filer on February 21, 2012 at 11:41am

Only half of our nighbors own their mineral rights and there is not much drilling activity in our area. Potter co PA. You folks in Ohio are the new drilling target. It is very quiet here

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