Someone I know is selling some land (less than 100 acres) in Eastern Wayne County. I'm trying to figure out what portion of the selling price should be allocated to the mineral rights. There is no lease on the property being sold. How can we attempt to value the mineral rights? Are any companies offering to lease land at this time in Wayne County?

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There is no leasing going on in Wayne county for Utica & Marcellus type wells. A few conventional wells are still being drilled as has been the norm for many years now. I passed a rig on site today on 604. A year and a half ago, a few offers were floated to some landowner groups in the area but none ever materialized and they quickly dried up and disappeared once the results were known from the Devon Energy wells in Apple Creek and Lodi.

That's kind of what I thought! On the other hand, there is some value there. If I offered the mineral rights for $1 per acre, I think many people would want to buy them. If I asked $5,000 per acre, no one would want to buy. So, is there any way to arrive at any kind of ballpark figure?

Selling the mineral rights outright (a severed mineral interest) or just leasing them?

Either one???? I guess I'm just thinking there must be some value in the mineral rights but I have no idea how much. I just thought I would try to get some thoughts from the forum.

You might contact Kiko Auctions. They recently have immersed themselves in the selling of mineral interests and could probably direct you better.


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