$15,000 per acre

was told today buy a friend of mine that someone he knows is selling 40 acres of mineral rights in Harrison county (clendening lake area) for 15000 an acre for an old 12,5% lease. anyone heard offers like this?

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Permalink Reply by Z3z528 on April 9, 2014 at 12:04pm
Yea its sad tho. The land shouldnt be seperated nor should it be allowed to be. I would guess about 5+ years ago here in ohio you would buy a piece of land and not think twice about if the mineral rights were reserved. Or atleast when i bought land. Now its an everyday thing to have surface and minerals seperate. Its going to cause a lot of problems in the future.
Permalink Reply by H.W. Plainview on April 10, 2014 at 11:15am

"Now its an everyday thing to have surface and minerals seperate. Its going to cause a lot of problems in the future."

How so? States like Texas and Oklahoma have been dealing with severed minerals for 100 years and both of them have little to no problems with the regime. Severance is an elementary part of property law. It's not all that different from allowing a public utility to run a power line or a water line.

The days of absolute, free and clear ownership are long gone and society is better for it.

Permalink Reply by The Rooster on April 9, 2014 at 7:34am
Jack
I agree with alot of what you said but i don't think you should call people out the way that you did. This site is here for us to help educate each other and keep each other informed. Through all your words you never did give any input on legitimate offers you have heard?
Permalink Reply by Jack Gray on April 9, 2014 at 3:42pm

Buckeye,

You're probably correct, my apologies for the smoking reference.  

the market currently sits anywhere from roughly 5k per acre, to upwards of 14k per acre.  People have sold and been paid 15k+, though I feel the mineral market has gone into a slight downturn due to some poor decline rates coming in from the Buell well and a couple others.  Obviously anyone that is purchasing mineral rights or royalties will use that information to their advantage, rightfully so in some cases.  Also, competition to buy minerals around here has decreased.  I have no agenda whatsoever, just a general understanding of oil and gas, and some business sense. 

My frustration stems from people I've known my entire lifetime, who have worked their tails off to make ends meet for years, now all the sudden being overcome by greed.  I guess it is human nature.  

Permalink Reply by scott peterson on April 9, 2014 at 6:55pm

When the Q4 reports come out strong the competition will heat up again...in the right areas. Greed is one thing but making a smart educated business decision & getting the highest dollar for yourself & your heirs is a different story altogether ....................

Permalink Reply by The Rooster on April 9, 2014 at 9:20pm
Jack and scott
i appreciate both of your input. I too am just trying to gain as much knowledge as i can so i can make the best choices for myself and family. I think this site is a great help to most of us.
Permalink Reply by Steve Madsen on April 9, 2014 at 9:59am

Anyone else living in south east Ohio smell a funny odor this morning 4/9/2014?

Permalink Reply by Steve Madsen on April 9, 2014 at 10:04am

If so, it's because buckeye2600 stepped in some body else's BULL#*@% & then tracked it all through Rumorville......

Permalink Reply by The Rooster on April 9, 2014 at 11:45am
Steve
what the hell are you talking about? I started this discussion to see what legitimate offers people have gotten to judge where im at with offers I've had.
Permalink Reply by mary ellen on April 9, 2014 at 11:55am

Steve,

Very sensible.  It would put an end to rumors if people would honestly share the information you are looking for. That would certainly benefit all of us. 

Permalink Reply by scott peterson on April 9, 2014 at 12:20pm

Another gas co salesman doing a drive by...................

Permalink Reply by Chester Field on April 9, 2014 at 12:48pm

Does anyone know if drilling is starting up in middlebury center tioga county on the state land that was leased in 2010 as I have a small portion of land leased nearby till 2015 with Seneca but have not heard anything about drilling. It's a small lot but iam wondering as I am getting up there in age just wondering just an old man losing hope  

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