The recent shale boom in Ohio over the last few years has created a number of new royalty owners in Ohio. Many royalty owners are curious about the value of oil and gas royalties in Ohio. If you are considering whether to sell oil and gas royalties in Ohio this post will help. We’ll explain everything you need to know about the value of oil and gas royalties in Ohio. We’ll also show you how to maximize the value of oil and gas royalties in Ohio when you sell.
Oil and Gas in Ohio
While there has been oil and gas drilling in Ohio for some time, the shale boom has really taken off in the last 5 years in Ohio. There are a number of counties in Ohio that have seen explosive growth in oil and gas activity. With the recent drop in oil prices, we have seen activity slow down slightly in Ohio. In addition, certain counties that were once seeing extremely high leasing prices have come down a bit as production has been lower than expected in certain areas. In most of Ohio mineral owners have yet to adjust their expectations to the reality of lower oil prices and lower output than originally expected. There are however many great opportunities for oil and gas production in Ohio and operators are still very interested in the area.
Some of the best oil and gas counties in Ohio includes:
- Jefferson County, Ohio
- Belmont County, Ohio
- Monroe County, Ohio
- Washington County, Ohio
- Noble County, Ohio
- Guernsey County, Ohio
- Harrison County, Ohio
- Mahoning County, Ohio
Estimating Value of oil and gas royalties in Ohio
If you are currently receiving oil and gas royalties in Ohio, we can help you estimate the value. When you sell oil and gas royalties in Ohio you can expect to get anywhere from 4 years to 6 years times the average amount you receive each month. The value of oil and gas royalties in Ohio will depend on many factors. The estimate of 4 to 6 years is a good rule of thumb but the value of oil and gas royalties in Ohio can sometimes fall outside that range.
If you want to quickly see the value of oil and gas royalties in Ohio, us the calculator below. Simply enter the average amount you receive each month in the first box below. It will then give you a range of value you could expect for selling oil royalties in Ohio.
Keep in mind that current oil prices will affect the value of oil and gas royalties in Ohio. You may have seen a drop in royalty checks over the last few months. This is caused by the reduced oil prices that operators are receiving for selling the oil. This directly reduces the amount you receive from your royalty checks in Ohio.
How to Maximize Value of Oil and Gas Royalties in Ohio
If you want to get maximum value when you sell oil and gas royalties in Ohio, it’s extremely important to get your property in front of a large number of buyers. The reason is that when you get competing offers to sell royalties in Ohio you can select the highest possible offer. Many royalty owners in Ohio make the mistake of getting one or two bids and then selling their royalties. Even worse, some royalty owners get a letter in the mail offering to buy royalties in Ohio and quickly sell without getting competing offers.
The key to getting maximum value is to create competition among buyer. When buyers are competing to pay you the highest value for oil and gas royalties in Ohio, this puts more cash in your pocket. If buyers know there is competition, they can’t give you a low ball offer and hope you will accept. They know they must come up with the best possible offer they can if they want to buy oil and gas royalties in Ohio.
How to sell Oil and Gas Royalties in Ohio
If you want to sell oil and gas royalties in Ohio to maximum value, we recommend listing your property with US Mineral Exchange. The reason is that listing with US Mineral Exchange is like putting your home on the MLS. It alerts royalty buyers in Ohio that you property is available for sale. These buyers will then be in competition with one another to pay you the highest possible price. This results if getting the best value for selling royalties in Ohio. We’ve spoken with many royalty owners in Ohio who were shocked to get offers that were significantly higher after listing at US Mineral Exchange than the offers they received in the mail or found online.
The other option is to try and sell oil and gas royalties on your own. You can go this route but you will spend hours trying to locate royalty buyers online and submitting your information. It’s also worth noting that you won’t know who the people are you are working with. This is why we highly recommend US Mineral Exchange because you’ll save a lot of time and be working with qualified buyers.