The Elk Forest Property consists of 16,776 acres of surface and timber rights located in the eastern Kentucky Counties Bell, Clay, Knox and Leslie. The mineral resources are held under separate ownership and encumbered by several leases and subleases dominated by coal. The property supports a typical southern Appalachian forest populated by upland hardwoods like oak and yellow poplar. The entire timberland acreage is enrolled with the Commonwealth of Kentucky as a Wildlife Management Area that carries the rights to three transferable elk tags.
|Property Name||Elk Forest|
|County||Bell, Clay, Knox, Leslie|
|Coordinates||N 36°57’38” W 83°30’38”|
|Previous Owner||Tommy Graham|
|Dominant Forest Type||Southern Appalachian Hardwoods|
|Managing Consultant||Advantage Timberland, Inc.|
|Address||P.O. Box 548 1325 Hockman Pike Bluefield, VA – 24605|
The property is located in southeast Kentucky approximately 20 miles northeast of Pineville and close to the Tennessee border. The surrounding area is very rural and sparsely populated. The property lies in four different counties. Most of the land is in Leslie and Clay counties with smaller areas in Knox and Bell counties. The subject is mostly one large contiguous tract. There is one segregated tract on the west side off of Route 66 and three smaller segregated tracts on the east side between the main tract and Route 421. Access to the tract is from Route 66 which runs north to the subject from Pineville. Route 66 is a two-lane state maintained paved road. Another way to access the property is by State Route 221 then north to Stoney Fork Road (Rt. 2011). There are numerous private access roads that branch off of Route 66 onto the subject property. Many of these roads are used for access to coal surface mines and gas wells.
The Elk Forest Property was purchased from the Graham family in October 2010. The Graham family had acquired previously the surface and timber rights from West Alabama Investors, LLC who severed the mineral and surface rights after their purchase from South Mississippi Electric Power Association (SMEPA). SMEPA had held the property for over 30 years with the goal of exploiting the coal resource. The mineral resources are held under several leases and subleases. A 90 day notice of extraction is afforded the surface owner as well as “wheelage” payments associated with mineral extraction.
The Elk Forest Property is a typical southern Appalachian timber property in that it is dominated by hardwoods. Primary species include chestnut oak, white oak, northern red oak, and yellow-poplar. Hardwood sawtimber makes up 99% of the total sawtimber volume. Over 65% of the sawtimber volume is represented in 16-in-or-greater diameter classes. The species mix breaks down as follows: Poplar (35%), White Oaks (18%), Maples (13%), Red Oaks (12%), and Hickory (7%).
The timberland acreage is enrolled with the Commonwealth of Kentucky as a Wildlife Management Area. This designation carries with it the rights to three transferable elk tags issued annually by the Kentucky Department of Fish & Wildlife Resources.