Replies to This Discussion

Permalink Reply by jonathan M. on September 20, 2014 at 12:31pm

Was that in millwood? If so seems lower than prices that have been thrown around on this site.

Permalink Reply by evan on September 20, 2014 at 12:33pm

No it was Oxford.  Close to Millwood. I suppose the reason why it only brought 11,000 an acre is because it was a 15% lease.  I guessed more.  

Permalink Reply by jonathan M. on September 20, 2014 at 12:41pm

It's all relative. Had it been 12.5% the it would amount to $9,166.66/acre. If it would've been 20% would have been $14,666.66/acre

Permalink Reply by arminius on September 20, 2014 at 3:35pm

Evan,

Do you know who bought the mineral rights?  Did a land agent for one oil and gas companies purchase the rights on behalf of the company?

There was another sale of mineral rights today, those as part of the Walter Frederick estate, on land near Lashley Tractor in Noble county.  Those rights were leased to Eclipse with a 17.5% net royalty.  Have you heard what those rights brought?

Permalink Reply by evan on September 20, 2014 at 11:36pm

It was a land ag

Permalink Reply by David Cain on September 21, 2014 at 7:53am

Evan,

Do you know how much of the acreage being auctioned was in the Karen unit?  Also was it announced what the royalties per acre were?  I know you had said that someone else in the unit had received $2,800 per acre per month initially.  Assuming that was on a 20% royalty rate this farm's acreage should have received around $2,100 per acre (at a 15% rate).

Appreciate the updates,

Dave 

Permalink Reply by evan on September 21, 2014 at 11:10am

None of this land was in the Karen unit, it s all in the HD McClain unit.  No royalties recieved yet in this unit but it is getting ready to be connected to the pipeline.  The Metheneys had a 15% lease.  The Karen unit isn't far away but it is different ..

Permalink Reply by Billy Park Whyde on September 21, 2014 at 10:19pm

How many acres  did the farm consist of?

Permalink Reply by evan on September 21, 2014 at 11:11pm

40 acres,  3 different parcels of 22 and 15 and ,3. But they all sold together anyway cause someone literally bought the whole farm.