I have over 10 but less than 20 acres of land in southern cuyahoga county. Was approached by landman and offered 1/8 of production for the mineral rights. This doesn't sound like much to me.
What is the going rate? What can I reasonably negotiate? They are trying to pool land together to get atleast the minimum of close to 60 acres I think. According to maps our land is in the Marcellus Shale area.
I checked the state of Ohio website for Active wells, their is a bunch of active wells right around our area of land it appears.
Would appreciate help.