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.
Looking for info on leasing values in Potter County, PA, West Branch Township
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.