I was reading past recent posts, to confirm, a company is interested in buying our mineral interests. I read on one post that $1K per net acre is a low offer. Comments? Also, I have heard Antero perhaps pulling out, however, maybe another company going in? Comments?
Peg, I just returned from Doddridge County after a long drive, I live in Utah. I have a lot of interest in Doddridge, but i took the trip specifically to check on wells being drilled on three pads, they are the Deets, George Scott and the Peggy June pads. All wells on the Peggy June pad has been drilled , drilling in process on all the other pads, However no wells have been Fracked and Antero could not tell me when they will be. I drove up to all the pads and was there when the last well was drilled on the George Scott pad.Bottom line, they have not been fracked. Now Peg, yes 1K is a very low offer, I would not sign, but see an Attorney…As far as Antero pulling out, check out the Weekly Report Web Site and you can see where the work is going by permits being approved.I believe that Antero Resources will be around West Virginia for a long time.
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$1000/net acre to purchase is give away price. I have gotten at least double that as a signing bonus for just signing a lease (not selling) on every lease in the past. Modification of an existing lease maybe not as much.
Thank you James and Arnold! I appreciate your responses!
$1000 an acre is way to low.
You know i really cant believe this. 4 years ago before i signed my lease with Antereo i asked on here what a good price was per acre and not one person answered. i ended up i guess giving it away. i have 72 acres of mineral rights (well my share of 72 acres) and only got 500.00 kinda pisses me that no one bothered helping me then but you are all for helping everyone now. laughable.
Sorry Charlene, I wish I was able to help you at that time.
Thank you again for openly sharing your thoughts and experiences!
I also noted an article out on the web about the county assessor office noting a flurry of activity and at the beginning of 2019 the tax valuation bill (will go into effect next year) I received reveals a substantial increase. Reading between the lines to me this means the office is increasing the tax on mineral interests due to the activities of the drilling/fracking, etc. Any other thoughts I’m interested to hear.
Our valuation for property taxes exactly matches the royalty received from 2 years prior. If no royalty is paid the taxes are a low amount.
I would comment that $1k/ac seems low, but the quality of acreage varies throughout the county, so some areas that would be low and some areas it might be a good idea to take that offer. Probably would help to define were this interest is to get more accurate feedback.
Late to the party, but $1000/acre is definitely low for Doddridge. That whole county is going to be producing gas from the Marcellus shale at some point, and it will produce way, way more than $1000/acre worth of royalties in the first year of production. Now, it may take some years for a company to produce from your property, but it will produce someday. I don’t think I’d part with Doddridge county mineral rights for less than $4K/acre. My thoughts about what mineral rights are worth have always been a bit high, though. If you got an offer from one company, there’s probably another interested if you can find them.
Thank you for your response.