Value for Selling mineral rights in Northwest PA

I live in northwest PA. The Gas companys have been leasing this area for about 6 months now. With the best offer at 3300/18%. I Had a phone call from a group, they said they would buy the rights. (not lease) What are the going rates for Venango county? To sell that is! This is new to this region. No Drills have been put in the ground yet. And I know people will say its foolish to "sell" But the ground here is unproven. Any ideas from anyone? Thanks!


I am not familiar with that area but if I would not be in any hurry to sell until you have done an extensive research in regards to prices. Were you offered $3300 per acre or for the total acres? I am guessing you mean for the total acreage. How many net mineral acres do you have in this area? If no drilling has occurred, you actually have no idea what lies underground. Since you have recieved an offer, it tells me that someone is interested in your area. I would locate the nearest producing well(s) and run the figures on that production. It might be wise to wait and let the area begin to develope in order not to be shorted in the value of your minerals. If you sell today and later on good producing wells are drilled, the value will begin to soar in regards to the value of your minerals. Good luck and by all means, do your research prior to signing the dotted line.

Thanks! Offer was for each acre. i.e. 100 acres = $330,000 for a 5 year lease. I was told that you can sell for up to 3Xs the lease offer.


If they are offering that kind of cash, then the area must have big time potential. In that case, if I considered going for a lease it would not be for 5 years. If you want to get drilled on, the 5 year lease will only prolong any action by a drilling company. As for selling up to 3Xs the lease offer, that's up to you in regards to that decision. That's alot of cash to turn down but again I have no idea what the long term potential is for this area. If this was my decision, I would weigh both sides (If they are willing to go 3Xs the lease amt.). Good luck and hope you make the right decision.

Dave h jenner said:

Thanks! Offer was for each acre. i.e. 100 acres = $330,000 for a 5 year lease. I was told that you can sell for up to 3Xs the lease offer.

Dave I think you are getting good advice. I think you may also be able to hedge your bets and sell half and lease half. I would definitely follow Wilsontownship's advice and go to, it's always good to see what other people, some with feet on the ground have to say. I will recommend that for such sums, you do not want to take a draft, bill of exchange or order of payment. If they have to meet you at the bank with a cashiers check and you hand them the lease or signed title document, do it that way, but make sure you get paid.

Hi Dave,

Would you mind letting us know who offered the $3300.00 and .18%? .18% sounds pretty light for royalty, but I'm not from the area. All you can do is check with others who have similar interests.


Wes Luke