Discussing the Marcellus and Utica Shale
Determining Value of Mineral Rights in North Gilmer County
We have been offered a lease by a major gas drilling and production company on a 74 acre tract, that we hold half interest on, in the northern part of Gilmer County.
Does anyone have an idea of what would be considered a reasonable offer for a bonus and percentage in this area of the county?
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Replies to This Discussion
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Permalink Reply by Tim Snyder on
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Hi, we have been approached too with an offer that sounds really similar to your offer. The county above, Is getting 4000.00 per acre and a lot better royalty percentages than the base rate of 12.5%. I wouldn't sign for less.
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LandownerPermalink Reply by O.S.Brannon on -
Thanks very much.
The company were are dealing with quickly came with a $1,000 per acre offer and 15%, so rather than dealing with it anymore myself, I think it is time to get a lawyer involved to handle it from this point on.
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