Offer to by my 1.7acre $7000 per acre

West Virginia Mineral Rights Lewis County, WV
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wondering if this is a fair offer per acre, please help.

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@boyerrichard I would definitely get some more offers on this. Look for companies that buy West Virginia minerals (google “West Virginia Mineral Buyers”). Worse comes to worse you can always take this offer - but multiple offers ALWAYS helps the seller

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Please consult with an oil and gas attorney. The offer that they present is always the low ball offer. Just them alone presenting an offer let’s you know there’s something there. You can get more through negotiation. It depends on if you’re willing to wait it out. But if they find what they believe is there they ll come with a huge offer down the road. Best of luck!

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Really ? After paying an attorney, you can still pocket more for your sale in the long run?? Thanks

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Absolutely. The atty only charges for their services not a cut of your deal. I had 5 acres and the oil and gas company low balled me. I got an atty and I got 10x more than what I bought it for and he charged me 1k. Best 1k I ever spent!

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Richard a few things to consider. Assuming the 1.7 acres are your mineral acres, do you know if other relatives or individuals have any interest in the 1.7 acres? It is very common in WV to have multiple interests on parcels. If so this modifies your total interest to net mineral acres (NMA) distributed among all the other interested parties. Most offers to either lease or purchase are based on the NMA number and not the total acre number. Agreed with all the other commenters that an O&G attorney would certainly help get you a better offer from the interested company. Not knowing where your parcel is located in Lewis County but there is drilling activity there which you can check at dep.wv.gov. Should help you make a better decision. Best of luck.

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no that is my acres of 166 acres

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Always a good idea to find out if there is pending horizontal drilling before considering a sale. Buyers plan to make a profit off of current production and pending production. Can you give a tighter location? Have you looked up your area on the state oil and gas commission website to learn more about activity?

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Hi @boyerrichard , Is this a Gas or Oil lease? As many others have said it may be in your best interest to understand what you really have and its real value vs someone out of the blue making an offer. $7K per mineral acre sounds low. Not that I know enough about WV, but in Midland Texas I was getting low offers as well, in the $6K to $10K region. I settled on roughly around $19+k when I finally sold, after I made a bunch before my health went South. :slight_smile: Just keeping things real when I can. Listen to @M_Barnes as well. The others also make a good point.

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@Mikro1TX There are a lot of differences between these two Shale plays. With the thickness layer of the Marcellus and Lewis County area, $7000 an acre is actually a pretty decent offer as the shale thins out the farther south below Lewis County.

  • Permian = oil powerhouse (with gas)

  • Marcellus = natural gas giant

Location

  • Permian Basin West Texas & southeastern New Mexico

  • Marcellus Shale Appalachia: mainly Pennsylvania, West Virginia, Ohio, and New York

What they produce

  • Permian

    • Mostly crude oil

    • Also produces natural gas and natural gas liquids (NGLs)

  • Marcellus

    • Primarily natural gas

    • little oil / NGL’s and deeper pockets in certain parts wet gas and dry gas

Geology (why they behave differently)

  • Permian

    • Actually a stack of formations (Wolfcamp, Bone Spring, etc.)

    • Multiple productive layers → drill several wells from one spot

  • Marcellus

    • One main shale layer

    • Extremely rich in organic material → great gas output

Production & economics

  • Permian

    • Most productive oil basin in the U.S.

    • Profitable even when oil prices are relatively low

    • Infrastructure is extensive and still expanding

  • Marcellus

    • Largest natural gas field in the U.S.

    • Gas prices and pipeline access strongly affect profitability

    • Some production constrained by pipeline capacity

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Thanks for the info, as I said, I do not know enough about WV, so the difference is greater than I had thought.Still it would be best to get the largest offer available vs taking what is not solicited. MK

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well they have court papers to do 2 wells horizontal drilling and then it is 27 tracts 667 acres now two counties and the other drill is 24 tracts 256 acres should we have held out to see what happens with it

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did you see my reply thanks

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Did you sell or lease?