My siblings and I received packets of papers from Antero to modify an Oil and Gas Lease in Doddridge Co, WV. The lease is dated 1908. We were going to throw them out thinking it was a scam until we found in the later pages our grandfather’s name ( he had married a 2nd wife who descended from the original owners of the property). None of us can hire a lawyer. We understand from reading the papers that it’s $1 plus they give us $250 each to sign and return these documents and the royalty would be 16%. Our main issue is taxes. Can we be charged taxes on the property at all. Or just pay taxes on the royalties if we ever receive them. We want nothing to do with the property as we live in other states. Is it legitimate? Are we financially responsible for the land taxes. Our main concern.
Thanks, Laura Joyner Orsini
There is a law in WV that says that if you don’t sign, you get forced into it once the company has enough of the acreage signed up. There might be advantages if you wait, either on bonus money or royalty %. No guarantees. Maybe somebody else can comment. Antero is very reputable, so that is not a problem. You probably don’t have a large interest. The bigger the interest the more negotiating power.
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My experience with Antero has been pretty bad. Non-payment of royalties. Low ball offers. And extremely poor communication. Wish I had never signed with them.
I used an attorney to negotiate, maybe he was the one to have to fight with them. And it was a couple years ago.
Does anyone know if they still pay the $250 if we don’t get the papers back in 10 days?
I think if you are in the process of negotiating they will give more time.
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Oh no, sorry you had a bad experience.
We are all new to this and just want to make the right decision.