Replies to This Discussion

Permalink Reply by Glenn C. Keith on June 29, 2012 at 1:57am

Hope,

I have been approached twice myself regarding this but so far I have decided to let it play out. The numbers I have read range between $14,000-16,000 per acre. I cannot verify the truth of this but these were the numbers mentioned in some articles I've read in the last three months. Perhaps someone else will have a better handle of this.

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Permalink Reply by Sharon on June 29, 2012 at 2:09am

I live in monroe county , can i ask who approached u twice for sale of minerals? I do have a lease presently. I didn't understand if u sold only royal ., or minerals or both,, thanks

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Permalink Reply by Farmhouse on June 29, 2012 at 2:16am

If you sell, you sell mineral rights and any future royalties. Remember though, you can't un-ring the bell. If you sell them you sell them forever.

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Permalink Reply by Glenn C. Keith on June 29, 2012 at 2:17am

Buyers are interested in buying your mineral rights so that any future royalties from wells will go to them. I was approached by a law firm in New Philadelphia a few months ago, the name escapes me, and more recently by a company in Fredericksburg called Rural Farms LLC.

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Permalink Reply by hopeforoil on June 29, 2012 at 2:36am

14-16k?? Where did you get that number? We have been offered much less. We were offered to sell our royalty not our minerals. Also they put a time limit on the sale. If a well is not drilled within A certain time period then the rights come back to us. I understand why they want to buy the rights but I also understand there is significant risk associated with the oil business. That's why we're considering selling a portion and holding on to a portion

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Permalink Reply by take the money and run on June 29, 2012 at 2:54am

I was approached last spring by Nantucket out of Texas. I am in Carroll County, they offered me $7000.00 a acre. While I was considering their offer, the ODNR released the info on the wells that was producing. I received a letter from them telling me that they were withdrawing their offer due to the report. Hope this helps.

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Permalink Reply by Mike h on June 29, 2012 at 9:03am

Leroy Van Horn, Carroll County Auditor, spoke at a Carroll Concerned Citizens meeting a few months ago and indicated that severed mineral rights were changing hands at roughly $8,000 per acre.

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Permalink Reply by hopeforoil on July 2, 2012 at 3:31pm

Take the money. For 7k/acre I would "take the money and run!"

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Permalink Reply by 0i7okn54zwbdo on July 2, 2012 at 4:04pm

Can't take the money and run, Nantucket already ran out of town.

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Permalink Reply by Sharon on June 29, 2012 at 3:53am

Thank u for all the info u have shared,, I am going to wait this maybe out, not sure..

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Permalink Reply by hopeforoil on June 29, 2012 at 4:05am

I also have thought about waiting. We really don't have any proven production around my property. So the way I see it a bad well and the offers go away, a good well offers go up. I don't know I've always been brought up that "bird in hand..."

Take the money, have you had anymore offers since Nantucket walked?

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Permalink Reply by john p halloran on June 29, 2012 at 5:55am

Were you asked to sell or lease your mineral rights ?

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