We have been approached recently to purchase our oil and mineral rights in Wetzel county WVa. Does anyone know what a fair price would be per net acre? How is the net acreage figured also.
Our tax document show us acreage and for example 556 AC but also shows 2/8 of 1/20 int. It’s all Greek to me lol. Thanks for any help! Linda
Linda,
Obviously it would be easier to help if I could see the document. So, I’ll use your example. Assuming the 556 acres is a gross acreage, multiply 2/8 (0.25) x 1/20 (0.05) x 556 for the net amount of 6.95 net acres.
There is a lot that goes into valuing acreage so it would be hard to give you a blanket $/acre value. Some pertinent questions would be is the acreage developed; if developed, what percentage; how many acres; is it leased; etc.
Feel free to ask any specific questions that you have and hopefully I can help!
~Rachel Vass
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