It was found that I have inherited mineral rights and received an offer to purchase. I have no idea what minerals there might be, nor if leasing is a viable option given it is less than 2 acres. Can anyone provide guidance of where I should start? The offer is for $3,000/acre which I read on the forum from 2024 is low.
You would need to give a location with the township name. Most offers to buy come right before drilling, so don’t be too quick to jump until you know what you have and why they are offering.
@mthom to build on what @M_Barnes is saying, location is VERY important. Also, have you signed a lease? If not, you want to negotiate a better sales price as unleased minerals are more valuable
My brother and I have a 15 acre tract in the Battelle District in Monongalia that is of interest to an energy and a couple mineral purchasing outfits…is there a lot of activity there? Are folks getting 5K or 6K leasing or purchase offers?
Interested to know what’s going on?
We are suspicious of these offers that come out of the blue
It all depends. In Monongalia County, you’re going to be hard-pressed to get 5k or 6K as a lease bonus, unless you sign a really crappy lease. And that’s something that people often forget, you can get a higher bonus with a worse lease, and your bonus will go down if you want a good lease. It’s about understanding what your goals are.
As for the selling side, the value of your minerals will be the highest to a mineral company BEFORE you sign a lease - but have a lease offer on the table. They want to write a good lease and they want their lease, that’s why your value is highest. If you want to sell that’s when you’d want to sell it and get multiple offers.
There are frequently permits for new drills (wells) in that district of Monongalia. CNX (Consol) seems to be the main company. I don’t know about lease offers. Hope somebody has more information.
Northeast is also very much active in Monongalia county - probably more so than CNX. Definitely very active in Battelle as we have a number of leases with them in that district
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