Mineral (oil & gas) Lease in Barber Co. Kansas (mineral rights, leasing)

[Had2BeRed2]

I've inherited the some land in Kansas (Barber Co.) and have received paperwork requesting the Mineral Lease renewal. They are offering a rediculous $15/acre for property that is adjacent to the Aetna Oil and Gas fields. How do I go about finding out what a fair market price would be for his lease? Can anyone help

[Willy-Bill]

I'd have to ask a neighbor or a neighbor's lawyer.
Also depending on the lay of the land if their are are any deer on it you could probably get close to $15/acre leasing it to some hunter with more money than common sense.

[Modron]

Originally Posted by Had2BeRed2

I've inherited the some land in Kansas (Barber Co.) and have received paperwork requesting the Mineral Lease renewal. They are offering a rediculous $15/acre for property that is adjacent to the Aetna Oil and Gas fields. How do I go about finding out what a fair market price would be for his lease? Can anyone help

I hope you get an answer to this question. I have a friend who inherited oil and gas mineral rights on land in Butler County, and with the price of gas where it's been and the number of oil wells that have been reopened she is making money hand over fist on the mineral rights alone. I can't imagine that she'd ever sell. Best of luck to you.