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Permalink Reply by PRESTON D Joswiak on April 4, 2013 at 4:53am

We had gotten a post card followed by a phone call.  I talked to someone from Texas who offered to buy our lease royalies for  a one time fee of $3000. He did go up to $5,000 per acre.  It would be a good deal for him not me.  It is a scam, if you sign with someone that wants to buy your lease you have really lost a lot of money.

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Permalink Reply by Oliver Perry on April 4, 2013 at 5:55am

If your property is in Noble County, Ohio, you would have to be crazy to sell your mineral rights. Noble is a great spot for drilling, and the recent production figures prove it. These parasites that want to buy them will make at least several times the amount they pay you. 

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Permalink Reply by Jack Straw on April 4, 2013 at 10:51am

 

If an individual has an immediate need of money, there is always the option of "having your cake, and eating it too".

If you have significant acreage, you could sell the O & G rights on a physical portion of the property, while retaining the O & G rights on the remaining physical portion of the property.

However, if you have no pressing need for money, I am with the chorus who advise holding on to all mineral rights.

 

All IMHO,

                  JS

 

 

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Permalink Reply by Christiane Marshall on April 7, 2013 at 8:07am

Thanks to all of you for your time and response! When discussing it, I said we wouldn't be interested in selling all of our mineral rights. They offered to buy 50% and said it is an overall percentage, not a specific parcel. Does that sound right to you? We haven't decided yet so I really appreciate what anyone has to say. Not in a tight spot, but I thought I could use some to make real estate investments (fix and flip). The housing market is a seller's market right now in the geographic area I'm interesting in investing in -- so if I can find houses at discount, it would be worth it to make some of the money work for me now.

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