Replies to This Discussion

Permalink Reply by Mike Knapp on December 21, 2010 at 5:49am

First of all, In Pennsylvania, oil & gas are not considered minerals.

 

Second of all, you would do much better leasing your o&g rights.

 

-Mike

Permalink Reply by Linda Hindle on December 21, 2010 at 5:59am

First  please educate me as to what the proper labels are for gas and oil in Pennsylvania. Second why is that?  Statements without answers are not helpful.

Permalink Reply by FXEF on December 21, 2010 at 10:28am

Linda,

 

Mike is correct in that you would be much better off leasing your O&G than selling them.

You might find this DEP Fact Sheet helpful.

Permalink Reply by Jack Young on December 21, 2010 at 4:00pm

Minerals can include oil and gas in PA when the term is used in an assessment or tax sale, plus on occasions where the intent of the reservation or conveyance is clear despite a failure to montion oil or gas specifically. It's important to know when general rules such as the one you cite don't apply.

Permalink Reply by Karen on December 21, 2010 at 1:45pm

I've been trying to sell oil & gas mineral rights in West Virginia. The rules appear to very by state. IMHO what you need is a good attorney, in your state.

Permalink Reply by Linda Hindle on December 21, 2010 at 2:08pm

Thanks for your imput Karen, I do have an attorney, have already leased in the past not sure I want to continue, that is why I'm thinking of selling.  I do not own the surface only the gas and oil rights.

Permalink Reply by Jack Young on December 21, 2010 at 3:58pm

The key factors in arriving at a reasonable sales price are location, title and leasing status. If you're in a prime area, are unleased and have a strong title, you should have numerous sales options. If any of the key attributes are missing, however, it will be a tougher job. Acreage, county and township information would help me know who to suggest approaching, and your leasing status is critical, of course.

Permalink Reply by Karen on December 21, 2010 at 4:20pm

And, you have to shop and negotiate to get a better price.

The "best" price is an elusive goal.

Spend the time that you have, negotiate for all you can, an accept that you have done your best.

This from an out of stater, who is trying to liquidate these assets.

Permalink Reply by Todd Charles on December 22, 2010 at 4:45am

Well put, Karen, and we know you have/are doing your homework, trying to get this resolved before probate issues arise - and from a great distance away from WV.  Happy Holidays to you and your family. 

Sincerely,

Todd's Mom, Kit

Permalink Reply by Karen on December 22, 2010 at 11:37am

T

Thanks! I actually spent a week reading everything I could stand, after Googling "Marcellus Shale"

It's how I found this forum.

Permalink Reply by Mike Knapp on December 22, 2010 at 10:29am

Selling gas rights is like killing a goose that lays golden eggs.  

 

Posts without specifics are not helpful. 

Permalink Reply by Gayden Parker on December 23, 2010 at 4:48am

Linda,

I have sold lots of minerals.

Contact me if you wish.

gaydenparker@yahoo.com

• ‹ Previous
• 1
• 2
• Next ›
• Page