My wife and brother-in-law are heirs to just over 11 acres of mineral rights in Greene County, PA. We have received several offers to purchase the rights. The offers have gone from 4.5K per net acre and are now hitting 9K.
I’m curious to know what sale price is reasonable. I’m also looking for convincing data to lease rather than sell.
Dave- Depending on where your 11 acres are located-leased, producing, held by an old well, unitized. Since you received an offer of 9K, your acreage must be soon to be developed, or have stacked potential. In the end, you will get more money if you hold your interests than sell them. Try to lease the Marcellus and Utica separately.
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HI there. Please consider leasing before selling. My husband and several of his family members have signed a lease with CNX gas last year. Green Co Penn. Please do not disregard this. It turns out the well(s) on these properties have started producing and he received his first check at Christmas. Granted it was for several months back, but what seemed like a small income of maybe a few hundred dollars, It’s turned into some serious 5 figure income checks. First was the signing bonus($13,000.00) then we waited almost a year. Then this first check came in at over $30,000.00. This would not compare to the multitude of offers to buy the land. The property, once given away, can never be bought back again. My biggest headache now is finding a CPA to handle our taxes for 2021. (nice headache to have) Green Co Penn is on the Marcelas Shale and it’s big. In my opinion, sign a lease (make sure it’s GROSS) hold out for the pooling orders, and wait.Get yourself an attorney for a Trust, and find a CPA to deal with your taxes. Good luck.