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Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?

 
Josie Bear  (OP)

User ID: 69657114
United States
07/01/2015 06:01 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
I recently learned that I, along with my siblings, collectively inherited some land rights from a long, lost uncle. It's smack dab on top of the Marcellus Shale region.

Each sibling stands to receive roughly $227,000.

I know very little about this stuff, but have done some reading. One school of thought is DO NOT EVER SELL- one expert I spoke with told me that if they're offering me upwards of $4,000 dollars per acre and drilling has not yet started, there must be some serious game under there and I could potentially cheat myself out of millions. She said the offer is unprecedented...so?

Or, they could drill and find squat and I'd receive nothing.

It's a mixed bag. I feel a little funny about it. For one thing, this world is on the way out methinks, so perhaps I could build a pimp bunker and enjoy it. OR I could potentially earn bank monthly via royalties and that would provide enormous security.

I don't need a lot of money, in fact too much of it can be a bummer. It can be a bit ostentatious. But then I could give back- I could help rebuild the local animal shelter. And I could ski every day if it ever snows in California again. I could live by my own means and that is attractive. I don't know.

What would you do?
 Quoting: Josie Bear


Don't sell. Lease.
 Quoting: Anonymous Coward 18088444


I agree! I just inherited farmland in one of the best regions in my part of the country. The greedy me says to sell so I have "money". The rational me knows to hold on to the land and rent it out. If the money fails, I will still have the land. rockon

Good luck OP!!
 Quoting: Dazey 68938566


Same to you, friend!hf
Anonymous Coward
User ID: 56215584
United States
07/01/2015 06:11 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
You could be giving up a billion dollars for all you know

do the research dont be lazy
 Quoting: Anonymous Coward 69646799





THIS^^^^^^^^^^^^^^^^^^^^^^^^

OP I suspect they've already done the sounding and know exactly what's under your property or they wouldn't be making an offer.

They don't blow money on speculation much anymore.

GET OFF OF GLP FOR ADVICE and ask a real professional!!!!!!
Anonymous Coward
User ID: 69452655
United States
07/01/2015 06:16 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
DO NOT DO IT !!!

My parents sold the mineral rights on our Farm that my Grandparents left them. They do get very little monthly as royalties, but BOOM the Natural Gas wells were set up real quickly right after they sold them the rights.

No doubt about it, it cost our family dearly.

I would do other research on options to make sure you make the right choice for you and your family :)

Good Luck
Anonymous Coward
User ID: 69652151
United States
07/01/2015 06:23 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
[youtube] [link to www.youtube.com (secure)]
Anonymous Coward
User ID: 69652151
United States
07/01/2015 06:24 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?

[youtube] [link to www.youtube.com (secure)]
[youtube]
Reader.

User ID: 69049487
United States
07/01/2015 06:27 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
Talk to local adjacent and other affected land owners and assess their positions......they may being doing your work for you............it happened to me on a much smaller scale regarding an imminent domain action with the state
Anonymous Coward
User ID: 17122873
United States
07/01/2015 06:29 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
better make sure your water supply is secure
Josie Bear  (OP)

User ID: 69657114
United States
07/01/2015 06:43 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
DO NOT DO IT !!!

My parents sold the mineral rights on our Farm that my Grandparents left them. They do get very little monthly as royalties, but BOOM the Natural Gas wells were set up real quickly right after they sold them the rights.

No doubt about it, it cost our family dearly.

I would do other research on options to make sure you make the right choice for you and your family :)

Good Luck
 Quoting: Anonymous Coward 69452655


Thank you! So sorry to hear about this- very much so. :( Even our land man told me not to sell. Not ever, he said. I think he's pretty legit. I'm just going to see how it all plays out. Good thing I have no expectations- or very little tiny ones, anyway!
Josie Bear  (OP)

User ID: 69657114
United States
07/01/2015 06:44 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
 Quoting: Anonymous Coward 69652151


Haha! Nice!
Josie Bear  (OP)

User ID: 69657114
United States
07/01/2015 06:45 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
You could be giving up a billion dollars for all you know

do the research dont be lazy
 Quoting: Anonymous Coward 69646799





THIS^^^^^^^^^^^^^^^^^^^^^^^^

OP I suspect they've already done the sounding and know exactly what's under your property or they wouldn't be making an offer.

They don't blow money on speculation much anymore.

GET OFF OF GLP FOR ADVICE and ask a real professional!!!!!!
 Quoting: Anonymous Coward 56215584


Thank you! Yeah, I hear you. ;-) I'm not going to do anything rash- even our land man told me never, ever sell. The problem is, I'm in California and the land is in West Virginia. I would love to fly back there, but I am so freakin' broke.
Anonymous Coward
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United States
07/01/2015 06:46 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
Tell them you each want a million. After taxes.
Anonymous Coward
User ID: 69656557
United States
07/01/2015 06:49 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
If they get mineral rights, your land will be trashed for all time. Besides, they could do to you what they tried to do to me: buy up the surrounding places and slant drill right into YOUR minerals.
Anonymous Coward
User ID: 69656557
United States
07/01/2015 06:49 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
Do not sell it. Land will be worth a lot more than money one day.
Josie Bear  (OP)

User ID: 69657114
United States
07/01/2015 06:51 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
If they get mineral rights, your land will be trashed for all time. Besides, they could do to you what they tried to do to me: buy up the surrounding places and slant drill right into YOUR minerals.
 Quoting: Anonymous Coward 69656557


That's terrible!!! Yikes!
Anonymous Coward
User ID: 68653196
United States
07/01/2015 11:35 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
They know something you don't OP. The ground penetrating radar is absolutely amazing these days. I bet the mineral roghts are worth at least 100 million. Don't settle, you will be killing yourself later over it.
Judethz

User ID: 47012985
United Kingdom
07/01/2015 11:48 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
What would you do?
 Quoting: Josie Bear


9teen There are at least four of you so majority rules, which probably means sell. But can you get a better offer than one million. Sounds like you need
someone who knows what they are doing to get an auction going. oil
Josie Bear  (OP)

User ID: 69663093
United States
07/02/2015 03:41 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
What would you do?
 Quoting: Josie Bear


9teen There are at least four of you so majority rules, which probably means sell. But can you get a better offer than one million. Sounds like you need
someone who knows what they are doing to get an auction going. oil
 Quoting: Judethz


Amen, sista! It's going to be interesting to see how it all plays out!
Anonymous Coward
User ID: 68186298
United States
07/02/2015 03:46 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
"Rent" it to them.
Anonymous Coward
User ID: 69663904
New Zealand
07/02/2015 03:50 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
And why are you on GLP asking advise from all the retards, drunks, crazies, lost minds, creepy ones, stalkers, aliens and bimbos? I would be at my lawyers this is why I call this:

bsflag
Judethz

User ID: 47012985
United Kingdom
07/03/2015 04:51 AM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
Amen, sista! It's going to be interesting to see how it all plays out!
 Quoting: Josie Bear


kitty Thanks, all the best.
Josie Bear  (OP)

User ID: 69670206
United States
07/03/2015 12:50 PM
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Re: Just Received A Million Dollar Offer To Sell Mineral Rights. What would you do?
And why are you on GLP asking advise from all the retards, drunks, crazies, lost minds, creepy ones, stalkers, aliens and bimbos? I would be at my lawyers this is why I call this:

bsflag
 Quoting: Anonymous Coward 69663904


Ever hear of comfort in the arms of strangers? No? Then shut it, you drama-baiting kiwi.

PS: if you read correctly, you'd know I cannot afford a lawyer.





GLP