What’s a good asking price per acre for Mineral, gas and Oil Rights - Big Company Bid seems low. I was approached by an Oil and Gas Driller who wants to by my families Mineral, gas and Oil Rights, but their price per acre seems pretty low. These are the questions I sent to them, let me know if I missed a question, I’m blank in terms of experience.
- Now from what I aware of there is also mineral (a Coal vein) that is also going through the property. How is this being handled?
- What’s the Property History & Existing Adjacent mining, Oil or Gas Drilling Operations going on? I had a chance to review Greene Township which looks to be number 4 in Gas /Oil production.
- The last posting found was listed as 7.5K per Acre in Greene Township in 2020 , because of the production, I’d like to see the acreage price increase.
- Last question looking at the wells map is there already wells set up pumping out gas, oil or Minerals we should know about and be included in the profit of the production and past sells.
The past company that was looking to buy the mineral rights provided detailed information on expected production price etc.