Cardinal Mineral and Land Butler Township

We were contacted several months ago by Cardinal Minerals regarding a purchase of minerals. Contract offered a respectable amount and we signed. Closing date is tomorrow and they have not notified us of anything. Failing to return calls. Has anyone else had any dealings with them ?

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Permalink Reply by Joe C. on September 7, 2023 at 11:45am

The Petroleum Landman who owns AMCO Oil and Gas knows every operator  and mineral companies in the Appalachian basin. I’ve had his company help me in the past. I highly recommend him. www.amcooilgas.com. 681.209.8964, ask for Nick. 

Permalink Reply by Andy on September 7, 2023 at 12:55pm
John,
Are currently in a well unit ? Just curious what they offered. It should have been 10,000 + if you sold your mineral rights . Considering this area is very desirable . I’ve heard of more than that offered .
Permalink Reply by John P on September 7, 2023 at 1:08pm

I was told our area was 2 years out for drilling... offered 7, probably good they backed out !!

Permalink Reply by Joe C. on September 8, 2023 at 12:30am

We get this in West Virginia as well. Mineral companies will give you big numbers without valuing the area out first and then back out of the PSA at the last minute. I had that happen in Tyler Co, WV last year. I signed a PSA, took 3 months and never heard a word throughout the whole process. I called many times and nobody responded. The day that the PSA was expired, the guy from a company out Pittsburgh called and told me that the market wasn’t good and gas was going down, he changed the offer from $9500 an acre to $6500 an acre. My wife was so upset that we waited 3 months and nothing happened. I research out different companies and that’s when I found AMCO. When I spoke to Nick, he told me not to sell. We would see Antero permits by the end of the year. He was right, but for personal reasons, I had to sell. He reached out to 2 investment companies and Antero. We went back and forth for a month, finally Antero gave us $12,5 and acre. Nick worked with the Antero Landman to where we got paid in 5 days of the deed signing. 

sorry he couldn’t have help you tacoma7583. 

Permalink Reply by Andy on September 13, 2023 at 11:44am
John ,
Did the deal end up not going through then?
Permalink Reply by John P on September 13, 2023 at 12:58pm

It did not go through.

Permalink Reply by John P on September 13, 2023 at 2:02pm

They offered $1300/ acre less than what was on the contract. There were no defects on my end.

Permalink Reply by John P on September 14, 2023 at 12:32pm

They stated they made a mistake, waited until near closing to advise me of that. That was the last I heard from them.

Permalink Reply by Andy on September 14, 2023 at 5:10am
I would hold out. Once they drill Your monthly checks will definitely add up to more than what was offered . What I’ve seen checks from the first 6 months were 1,000 per acre per month. There is a good possibility they will have everything in our area drilled within 2-3 years
Permalink Reply by John P on September 14, 2023 at 6:53am

Appreciate your insight and response !!

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