My grandfather passed away in June, 2020. His estate has 4 beneficiaries.
Several oil and gas wells exist on the property that were plugged a couple years ago. There is currently a fracking well that will be plugged soon temporarily in order to allow for coal mining to take place for a couple years.
EQT and the Personal Representative recently entered into a Contract to sell all of the mineral rights. At first, it was communicated to me that it was just the Marcellus Shale. However, I have since learned that it includes ALL mineral rights (Marcellus and Utica). I am concerned the per acre price is too low ($8750 per acre) based on this distinction, as it is my understanding prices will go up in the next couple years.
I am trying to decide whether to try and have my interests removed from the Contract so that I can sell in the future (with the expectation that prices go back up) or whether I should try to halt the sale altogether.
I’m trying to determine whether that contract price is too low for sale of all mineral rights (both Marcellus and Utica? Or alternatively, whether it would be in my best interests to try and get out of the Contract and hold onto my mineral rights until the future? Its my understanding that prices are low right now, so it’s a matter of determining whether now is a good time to sell or whether it would be better to wait and sell in the next couple years.