My mother owns about 4K acres in wetzle county, she has been approached by Black Gold Group and offered 2k for her rights. Can any one enlighten me as to what this land is actually worth? She has never received more than 50.00 a year from the royalties.
This land has been passed down through several generations, she and my uncle are the only ones who still have interests.
Any information word be greatly appreciated.
Do you know how much interest she has in this?
I don't. only the tax bills. This is from my great grand father so we have never had much info.
I have contacted the appraisers office and have the number to the company leasing the land. i have a call into them and a lawyer. 375 acres in center and 3080 in grant, that's all i know at this point. Mineral Rights Only
thanks for replying, we are newbies!
The Wetzel county deeds and leases etc are online, maybe going back to the old things. When I get back to the computer tonight I’ll see what I can find about it, but there might be something on this discussion forum.
If you go to the top of the page under Groups you can find WV and then Wetzel county. Read all you can there. Much or all of Wetzel is in a good location for current or future drilling. With that much acreage, should be a lot more valuable than what you are being offered. Read a lot and keep asking, and maybe start this question in the Wetzel county section.
Thanks Nancy! I will do that.
Hi there Wally, I wouldn't sell those rights. That's a huge amount of minerals, and they will be very valuable if they get leased up and start producing royalties. Of course, if they never get leased up and produce, you won't get anything out of them. Do you know if she owns all of the rights, or just part of several larger tracts?
I definitely wouldn't sell at $2000/acre. You can lease for $4,000/acre in Wetzel, and higher if you negotiate hard.
It was actually @k for the entire thing, AS far as we know she owns the mineral rights only. We are trying to get the lease now, HG sold out to American Energy and she had some money being held.
She is a part of the Wileyville Unit 1 and John Rush 404N.
I have been in contact with HG today and am trying to get in touch with American so we can get copies of the lease.
Thanks for all your help.