My family members have mineral rights to 10 acres left to us by our grandfather. This is my immediate family members. This is part of 61 total acres which was shared with my grandfather's siblings. We have been approached by a broker working on behalf of Antero who have offered us $3000 per acre and 16% royalty. My questions are as follows: what are other people in the Tyler County area receiving, in other words, is this a good offer? How many acres are they typically interested in? How does this work if some of the heirs of my non-immediate family have already sent in their signed, notarized offer and have even received their check? I know I am asking a lot, but I am in Ohio and this has come at me out of the blue, so I beg anyone who can help me with these questions. Thank you, Nancylou
Wilson's:
You might want to post this also under "County Groups". Click on "Groups" above, scroll to WV and find Tyler County. These are individuals who have interests in that particular area.
Hi Nancy, we have a few clients in that area as well. I can tell you those numbers are roughly in line with some of the offers we have seen before, but a little light on the royalty side (I'd ask for a bit more). A buyer could be interested in any number of acres, it all depends on where your property is located and what they already have leased, etc.. As far as your family members already agreeing and getting paid, if you own your interest individually it doesn't matter that they have already agreed and you can still request different terms than what they were paid. Hope that helps!
Yes, thank you, Eric. This does help me make a decision. Thanks again, Nancylou
If some of your non-immediate family members have signed and received payment of bonus consideration, that will not affect your transaction in any way. Each mineral owner makes his or her own agreement with the Lessee.
Yet another question - does anyone ever have any success in getting a no production clause added to their lease? Antero is the company interested in leasing.
Do you mean a clause for "no surface operations," so they cannot tear up your land? If that is the case, then it depends upon how many acres you have to lease and whether the well they intend to drill is vertical or horizontal/directional.
All other things being equal, the fewer acres you have the more likely they are to agree to "no surface operations." And if they intend to drill a vertical well on your land I can't envision them agreeing to that clause. But if they intend to drill a horizontal well and feel that they need your surface, then they probably will not agree to insert that language either, at which point you need to figure out if you want the bonus and the surface damages in exchange for the inconvenience of having an Operator on your surface.