My father owns mineral rights in West Virginia. We get offers to sell at random. We have no idea of what a fair price to sell would be and don't want to be taken advantage of. Is there anyway the value can be determined?
Brian,
A few pertinent questions if I may...
What County are the minerals in and do you know the District? How many acres does your father own? What percentage? Is there a lease occupying the parcel? Has a Pooling Modification been signed? If there is a well(s) in production, what company is involved.
I would be happy to give you some insight on a fair value, with no ulterior motive. You are welcome to email me directly if you prefer not to post all of the information on the board.
Cheers
WV Mineral Owner,
I'd be interested in understanding your background in valuing mineral interests. Is this something you do on a paid basis? Thank you.
Kenny,
I do NOT do this on a paid basis, OGM is a side line for me. I am an active buyer in the WV market and have been certified by the Third Circuit Court as an expert witness in mineral valuation. I am very familiar with the under cut prices many outfits offer and would hope Brian receive a FAIR Market Value if deciding to sell.
Cheers
Hi,
Thank you for your response in regard to my father's ownership of mineral rights in West Virginia. We receive an interested buyer once or twice a year and the price varies dramatically. My father's mineral rights are in Harrison County, where he was born and raised. The District is Sardis. I don't know anything about pooling and leases as I am learning as I go and not greatly knowledgeable in this area. The current price offered is $1,600 an acre. I have know idea if this price is a fair value or not. I'm a school teacher taking care of my mother. We just don't want to get taken advantage. Thank you all for reading this and your input.
Brian,
Sardis District is one of the more desired regions in Harrison County and in my 'Unprofessional, non "paid basis"', $1,600.00 / acre is undervalued, regardless of Pooling an/or Leases. Does your family receive any royalty income from either oil or gas production from the property?
Hi,
Thanks for your insight. It is much appreciated. My dad left the town of Salem years ago in Harrison County. I have been back a few times. I was unaware that the Sardis District was a desirable district for mineral rights. I am thankful for being on this forum. We used to get checks sporadically. Tomorrow I am going to call Energy Corp of America since we have not received any in some time.
Brian
Brian
Brian,
Good luck with ECA, they are one of the more challenging production companies that I have dealt with. Do not be surprised to discover if you are paid any royalty, they have taken large deductions for their expenses.
Feel free to email me directly on this site if I can be of any assistance.
Cheers
I second what WV Mineral Owner said about ECA. Good luck.