10.4 mineral acres 12-69-33 and 12-69-34; 12-69-34.1 (Part). They are in Marion County in the Mannington district.
Is this active or are they just trying to buy? How much is generally a good price per acre? I was born and raised in Ohio; this is new to me. Well, not exactly last year—they thought I inherited a different area from my grandmother’s husband, but it was a mistake. This property does make more sense since it is from a direct blood relative.
Ask them directly what they are contacting you about. Are they trying to get you into pay? Are they trying to lease? Are they trying to buy? There are quite a few permits for long horizontal wells, so you might not want to sell if they are on your properties. Buyers general want to buy for a lower amount per acre than they think they will make in profit, so be aware of that. Get any royalties due to you first!
It is not on my property. I assume at one time someone I was related to owned the property. I did not know of these mineral rights. They want me to sell to them. I guess I inherited through my dad’s on his mother’s side. I am just looking for a decent price per acre.
It’s important to really understand the area and how the industry works before making any decisions about selling or leasing. Getting educated first will help make sure any choice is informed and in your best interest. Google search West Virginia Petroleum Mineral Advisors.
You may have surface property that is different than the mineral rights location. I would not consider selling until I made sure I had claimed and received the royalties (if any) or you will lose them in the sale. If they want to buy, then ask what wells are online if any, then check with the operator to see what you need to do to get into pay status. Also check unclaimed funds at the state and see if any are sitting there and claim them. Ask who the relative was that they are tracing to you.
My wife was approached by CR regarding an adjacent property last week where she owns a fractional interest in mineral rights. As near as I can tell, there are no productive wells on your property. There is a producing well on Section 12, Township 69, Range 2, near the intersection of Saltlick Rd and Rochlich Run Rd. That is probably why they are interested in your mineral rights. If you sell, you’re going to need to establish the value on the date you inherited the property…probably the date of your last surviving parent’s death.
