Currently Chesapeake has drilling rights on my property. Can I find out if they are planning to drill on my property? Also, I have received an offer to buy my mineral rights and would like to know what would be a good price per net acre if I want to sell.
Kimberly, I’m no expert at all in mineral rights but I was offered $300 an acre. Of course I laughed out loud and politely declined.
I do not know who offered to buy your minerals, but what I have read is find out where the closes oil well next to you is, go online to kygs database and try to look up the pay data on that well or another close by. Then take that info go online to a royalty calculator, this will give you a idea about what your minerals are worth. I tried to find out if anyone has had a mineral appraisal but received no replies. Now I am no expert but the way the markets are today it does not seem to be a sellers market for mineral owners. Hope this helps
http://oilandgas.ky.gov/Pages/PermitListsPage.aspx
Go to this website and click on the top option for a list of approvals from the week before. This site usually has the newest list posted by noon every Monday unless its a holiday. Also, the tabs at the top of the page are very useful places for information and learning. Also, check out this map of wells.
http://kgs.uky.edu/kgsmap/kgsgeoserver/viewer.asp?LayoutID=2
The map is sometimes slow to load as it is a pretty extensive file. I have found one can speed it up some by unchecking the first two items under the "Customize Map" section on the left side of the page (the 24K contours). After expanding the map several times to find your property, you can carefully click on the point where the well begins and information will pop up about that well. In the pop up, click the small right arrow at the top of the pop up box to scroll through different pages. Usually on one of those pages there will be a link to maps of the well itself. Click on "Documents (DjVU) and the map will appear that shows a lot of information like mineral owners and the percentage of property that the well covers. Most of the older wells has the information but no map--older like 1960 and back. Hope this helps you some in knowing where wells will be and are drilled.