I’m new to Natural Gas Mineral Rights and new to this forum. My family has recently been contacted by EQT asking us to sign a new Lease agreement granting them the right to drill new wells on two separate properties. The highlights of the agreement are $2,500 signing bonus per Net Acre then a 15% Royalty.
Looking forward to your replies and guidance…
Hello WVHillbilly. I’ve watched this post hoping someone would answer. WV does not get many questions/answers as other areas. I can help with part of your question.
My sisters and I inherited mineral rights in Wetzel County and Marion County. Our first lease we signed we did not use a lawyer and it was a mistake. I wish I had known more but like you, it was all new to us. The first lease EQT has sent you will be in their best interest, not yours. It also is not their best offer they can make you. It is their starting point hoping you will take it. What is important (besides bonus and royalty) is the terms which are also negotiable. It is really important to have an oil and gas lawyer look at your lease and negotiate on your behalf.
We recently sold our Wetzel County leases using a lawyer and earned 3x what a company had offered. The lawyer has connections that we would not have had and knew who the best price would come from. He is currently negotiating a lease on our Marion County minerals. The lawyer we used for both of these transactions is -
Alex Miller Miller Law Offices 1114 Speedway Ave Suite 2 Fairmont, WV 304-366-0822
I live in CA but have an Aunt who lives in Mannington, WV. This lawyer came highly recommended to her. It did take us a bit to have an initial meeting with him because his client list was full. We chose to wait for an opening on his list and very glad we did!
Hello Lkdec… Thank you very much for your feedback and insight. Since my initial post, I contacted one of my long lost cousins that lives in Wetzel County and he has an old family friend (50+ years) that is a lawyer and he has agreed to take us on as clients due to family connections and as a courtesy to my cousin. Sometimes…family is a good thing.
Good luck with attorneys in the area… More often than not, the operators have a tough time dealing with the 3 page demands an attorney has so they’ll opt to just go around if they can avoid it. I have a share in 55.1 Acres in Wetzel, they wouldn’t deal with the attorney so I just agreed to terms on what I believe was a fair deal and signed the agreement.
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