Anyone else getting hit up by the a company wanting to buy out your mineral rights?

[propellerhead]

Chesapeake has been drilling in my area for a few years now. We all signed leases when they started. So far, we received two royalty checks for $1 each. Now they are offering to buy the mineral rights for $1500 and up, depending on the size of your lot.

Anyone else getting this? Are you selling them? Yes/No? Why? Thoughts?

[HarrisonTX]

Chesapeake has been drilling in my area for a few years now. We all signed leases when they started. So far, we received two royalty checks for $1 each. Now they are offering to buy the mineral rights for $1500 and up, depending on the size of your lot.

Anyone else getting this? Are you selling them? Yes/No? Why? Thoughts?

If I had mineral rights, there is no way I'd sell them.

Maybe, if they want to buy them from YOU, they might know something you don't?

[Sleeper]

Im another one for never sell your mineral rights.

If they think there is something good on my place they are going to pay me well to find out. When they do find something they will pay me even more.

[helosailor]

Im another one for never sell your mineral rights.

If they think there is something good on my place they are going to pay me well to find out. When they do find something they will pay me even more.

This X infinity! It's gonna cost them...a LOT!

[propellerhead]

There are other variables in the equation. Like how much longer I'll be in this house, will the wells in this area ever produce gas, market value of natural gas, etc.

[Vertnut]

Gas companies are smart enough to know that some folks are hurting right now. $1500 is not much.

[propellerhead]

Q: Would any of you have changed your mind about buying the house you own now if it didn't come with the mineral rights?

[Darren M]

A: Yes. And no, I wouldn't buy w/o them.

[GrayStangGT]

cant you lease them for a 1/4 percent interest, plus a bonus?

[Chili]

They finally started drilling near us. I am curious to see what, if anything I see from it. Gas prices are pretty low.

[0 GT 2]

If you're trapped in a shitty lease why not take the money and run?

You might have a shit ton of oil under your house but what are you going to do with it; talk about it when you drink beer?

Before I'd do anything I would talk with my neighbors and get on the same page and get a lawyer who is familiar with the area, going rates for the surrounding contracts and mineral right law.

Maybe try talking to the company first and tell them that you have a lawyer handy but if you can meet xxx number we will forgo the legal cost and consumption of time altogether.

[Strychnine]

They finally started drilling near us. I am curious to see what, if anything I see from it. Gas prices are pretty low.

You might not get anything right now. In the lease agreement there is usually a specified window given for drilling to take place (usually 1-2 yrs). If a hole isn't punched in that time but they decide they want the resources sometime down the road then they have to renegotiate and re-lease the rights.

But all they have to do is get the well drilled.

They can drill now, plug it for a while (there are laws covering how long a well can be temporarily plugged before a permanent "plug and abandon" prodcedure must take place) and then come back and produce it when the price of gas is [hopefully] higher.

[propellerhead]

The job market is pretty poor right now things make shake up at work in the next year. I might put the house on the market just so I'm more mobile. A move is not totally out of the realm of possibilities. Hence, I am considering selling the minerals. They may not be buying in six months.

[sc281]

The job market is pretty poor right now things make shake up at work in the next year. I might put the house on the market just so I'm more mobile. A move is not totally out of the realm of possibilities. Hence, I am considering selling the minerals. They may not be buying in six months.

Why are every single one of your posts edited by Leah?

[helosailor]

Why are every single one of your posts edited by Leah?

I think that's actually his sig.

On the drilling topic, they're doing seismic testing in my neighborhood right now, so I expect to see drilling rigs soon. Richland Hills rolled over like an old spoiled dog to Chesapeake.