Ashtabula County...Mineral Rights...Sell or Keep?

Just a general question regarding selling or keeping your Mineral Rights on property that you are selling or consider selling in the distant future.

As of this writing it appears that any drilling or possible drilling in Ashtabula County is unknown and may possibly be never.occur.This is pretty common knowledge based on many sites and State permit information. Tons of opinions everywhere.

There are many land owners in Ashtabula County who cleared their properties of old leases or own all the Mineral Rights on their properties. Based on the above and should you decide to sell your property should you keep the Mineral Rights and hope that in your life time something may happen....OR....sell those Mineral Rights to the potential buyers of your property?

You might get a little more dollars per acre if you sell your rights, how much I do not know but if you keep those rights perhaps maybe sometime in the years to come a break thru may happen and monies may come in.Lots of unknown.

I would like any opinions or thoughts on this question.

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Permalink Reply by G.H. on May 28, 2019 at 4:27am

Just depends on how much money you'd have to give up to retain the mineral rights.  In that area, based on current information, I personally would not give up too much money to retain the rights there.  But I know many on this board have different opinions.

You can always retain half and sell half with the property.  Probably wouldn't take much of a financial hit that way.

Permalink Reply by Bullfrex on May 29, 2019 at 12:54pm

Have you had the OGM rights appraised? There are many practitioners in this field. I do not know the cost, but if it is minimal it might be worth it to establish a baseline value to use going forward.

You also could sell the surface, retain the OGMs and sell them at a later date, or as G.H. suggested, sell a portion of them. That will keep you around for a bit longer, in case things start to happen.

Permalink Reply by Bill Simpson on May 30, 2019 at 1:11am

Thx.

The key factor I think is what will happen down the road regarding if the area would ever get drilled. The mineral right value now is probably very minimal but should anything positive come our way then the $ rights would greatly increase. I am leaning more to keeping the rights should I sell and just ride it out.

Kinda flip of the coin process.

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