Hello everyone. I know I need to do some research but from what I was told, my ownership sounds extremely tiny, really tiny. Should I sell my interests or sign the lease? What is considered a good bonus offer for signing the lease for such a very small piece of acreage?
Where is this? State? County?
Do you know any relatives who share this mineral ownership?
Without knowing more specifics, it is difficult to give you a set range of possible sales / bonuses you will receive; however I have a grasp of where Antero is drilling and can give you a loose estimate.
For such a small percentage, there is little chance you will receive any bonus offer for signing the lease, I would strongly recommend you forgo a bonus and concentrate on the royalty payment instead. If you were to sell, you will be lucky to receive $100.00, (One Hundred Dollars) the abstract, deed prep and transfer fees will most likely be greater than the sales price.
IF I were you, I would hold onto the parcel and simply consider any royalty payments you receive as 'cookie jar money'.
Best of luck,
Hi Nancy, this land is in WV, Doddridge County. My Mother was sort of a "desperado", I grew up virtually alone so no ma'am, I do not know any of my relatives. I am so elated to know that I came from such a large family though (according to Antero and what their findings were of my family tree). This is the reason why my ownership is such a small fraction- due to all the heirs (in the 100's per Antero). My Mom died in 2014 and this inheritance was hers (from her great Grandmother) and now mine since she's no longer with us. The only thing I know for certain is that Antero advised that my Mom's brother is the other relative who is also an owner. Not sure how the logistics of all this works and I do not know my Uncle- other than his name and city of where he supposedly resides in currently.
WV, Thank you for the stellar advice! When the land man from Antero called me this week he did give me the parcel numbers. He did mention there would be an offer for signing the lease and it would be in the paperwork that is in route now. I see what you're saying though, by taking a tiny bonus- it would decrease my already small potential royalties which wouldn't really be beneficial. I'm just so confused on how many heirs are tied into this and if it is correct. Have you ever known there to be mistakes in this process?
Makala, here is the link to the Doddridge County online records Doddridge online records
You could look up any family names that you know of. There might be affidavits listing heirs and family information. It could be interesting, if nothing else.
If you were able to contact your uncle, you might be able to work together on leasing or even selling if it comes to that. Anyway it won't hurt to look around on that website. Ask if you have questions about using it.
Mistakes, yes. However, if it has progressed to the point that a production company has secured a certified title and reached out to you, the chances of a mistake are significantly reduced. That said, many will say production companies make mistakes on a regular basis and one should never trust them, but I am not in that group.
One major piece of advice though; PLEASE do not spend a dime of an anticipated royalty, until a check has been delivered. There are countless examples of people listening to rumors and speculation, running out and buying a 'Texas Cadillac' pickup truck, a boat and set of ATVs, only to find the royalty drastically smaller than they hoped for. Additionally, do not expect drilling to start the day after you sign a lease, it may be 5 years before the process begins.
Good luck with the process and do not hesitate to ask questions before you sign the lease.