Offer to Buy Rights in Gilmer County WV

Recently we were approached by a landman to purchase mineral rights to a substantial tract that our family owns in Gilmer County. The offer looks big, but seems low on a per acre basis, compared to some numbers I have seen. The family has owned these rights for over 100 years and we are no rush. From the research I have done there are not many Marcellus wells this far south yet. This is the first offer we have received to buy our mineral rights in many years. We have held off before. any thoughts and advice?

Views: 1108

▶ Reply to This

Replies to This Discussion

Permalink Reply by Andrew Blackley on April 16, 2014 at 6:31am

Jim:

In this case it is a collection of parcels that were assembled by our great grandfather back in the first WV oil boom. On these we have just the mineral rights. There are several played out and plugged wells. On some there are full ownership, others have 1/4 or 1/2 interest, but the total is in the hundreds.

We were offered around $650/ac which seems extremely low.

Permalink Reply by DSFS on April 16, 2014 at 6:45am

For that area it is actually a competitive price.i have acreage in Wood County so curious to which company is offering?

Permalink Reply by Bill Barnaby on June 2, 2014 at 5:28am
100 was a competitive price 4 years ago in Belmont Ohio, now it's $7500. I would lease, never sell
Permalink Reply by DSFS on April 16, 2014 at 5:54am

Interesting! Can you tell me the company who offered and how much per acre?

Permalink Reply by Kim on June 2, 2014 at 5:11am
I'm interested in knowing the offer and company too as my husband has substantial acreage in Gilmer co and was recently contacted!!! Any insight would be appreciated

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service