We own the mineral rights in Mingo Park, Pennsylvania, a little over 10 acres. The area has been tied up with a lease we took from Rice 5 years ago. Rice didn’t drill and didn’t pick up the three-year extension in February of 2019. Now we are left with, picture this, 10 acres of mineral rights in the middle of at least 3 drilling operations. On the right side of us, 33 wells 3/4 of a mile away; to the left, 22 wells; and at least 16 wells below us. Read about the 33 well pad operation—it can slurp up gas the size of Pittsburgh, 4 miles in every direction. A landsman stopped by a month ago with an offer of $1,500 an acre and 18% royalties. Took it to a lawyer and was told the lease was so-so and we could get more up-front money because it is gas-rich ground at Mingo Park, Nottingham Township, Washington County, Pennsylvania. Guess it’s a waiting game now.
Make sure it is 18% with ZERO deductions.
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