We were contacted by Greystone Energy and Minerals recently about purchasing our mineral rights. Was wondering if anyone knows anything about this company. We are finishing our 5 year lease with Antero. They didn't even drill they are just sitting on it I guess. We own rights in Doddridge, WV. We have been dealing with this for 20+years of run-arounds.
Greystone knows something, I would suggest you hold onto the property. If you must sell, there are better buyers than Greystone.
Wendy from GEM told me to get an idea on what everyone in my family owns acre wise it would cost $7-10,000 if we were to do this on our own. They are going to pay for that. NO cost to us. Is that the going rate to get that info.
Brenda,
Any company or person offering to purchase would pay that, GEM is not unique. What price have they offered per net acre?
What name is the parcel taxed under? I researched Doddridge County and did not find any parcels under the name of Breniser.
No, that price is way too high. Assuming this is one tract of land, they could get a good idea of net acres in a day or 2. This is something they will have to do anyway and I find it interesting they are making it sound like they are doing YOU a favor. They reached out to YOU which means they should already have an idea of what you own. I would also never agree to sell without a title verification complete.
There are two ways to make money in this oil and gas business. First is to lease and produce the product, but the second way is to speculate and flip interests. That is the art of the flim flam.
Never sell your mineral interest! If some company leased your property in the past, some other company will lease it in the future. As long as they do not drill, you can remarket the interest when the leases expire.
Always put separate parcels on separate leases, that way if one parcel gets drilled, the rest are not held by production.
Remember, no one buys worthless interest. As long as you get those "we want to buy" letters things are still good.
Good Luck!