I have mineral rights in Belmont County, Ohio. Gulfport has a drilling permit but has not drilled. Can anyone give me some idea what the value of mineral rights in the area?
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What Township? How many acres? Do you have a lease? If so, need to know % and if gross or net. Surface or non-surface lease? Provide more info and we can answer your request.
There are 1,112 acres leased by Gulfport.
It is in Wayne Township, Belmont County.
I think Section 17.
Gulfport has unitized two sections and has a drilling permit for one pad with 5 wells.
I own 4.35% of the mineral rights, which I believe is 18% of net.
I can confirm but I am away in Mexico.
Thanks for any help.
Will try to help, but need more specific info. Do you have a surface or non-surface lease? Have you limited force majeure language and do you have a Pugh clause? How many TOTAL acres do you have a 4.35% interest in? How many NET mineral acres are located within each pooled unit? Get this info for me and I’ll check out the well status. When you return I can give your lease a quick look over for any other factors. Stay in touch.
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