My family has mineral rights in Potter County, PA, West Branch Township and I’m researching the fair market pricing for leases in that area. After paying a very modest price for the first 5 year lease the company has substatially upped the price after we pushed back a little bit. I’d really like to know what others are getting per acre, how long their leases are, if they’re getting a percentage of the output, etc.
Please share with all what you were offered.
The U.S Lease Report for March-April 2011 reports a low of $10 a high of $50, with lease terms from 3-10 years and royalty of 1/8th.
I have NO idea how closely the Lease Report actually tracts those prices in a very changing environment.
They paid $40/acre for a 5 year lease initially. When they offered the same deal we declined. They upped the offer to $200/acre. We declined and then they offered $1000/acre.
What about royalty?
I KNEW that stupid subscription that I have was worthless.