I think the offer is low. There is strength in numbers so together--brothers and cousins you will be able to negotiate a better deal if that is what you choose to do. Many of us are just finding out that we own mineral rights. Don't be quick to sign and don't fall for any scare tactics like they will sell it on the steps of the courthouse. That was the threat that was left on my phone recorder by Antero Resources. It must be worth something or they wouldn't be contacting you and my guess is that they think you will simply sign the lease and not negotiate, and they are doing you a big favor. You have nothing to lose by asking for more. Some states have forced pooling meaning that if they get 90% of the heirs to sign then the company can take it over but they still have to pay you a royalty just not the signing bonus. I don't believe that WV is a forced pooled state, at least not right now, but laws do change. Do you homework....and good luck.
Howdy everyone, I have been busy fishing but, I thought I would see what's up on here. Mr. Reed, your share is as important as the guy who has hundreds of acres. The company needs it or they would not be contacting you. Your family sounds pretty normal to me. You will never get all of them to agree. Try to get as many of your relatives to stay together on this. When a landman offers you a ridiculous figure such as you mentioned, just say no and tell the rest to say no. Keep in contact with your relatives every time you here from the oil/gas company. The company will try to use tactics on your relatives, since some live out of state. They will be back and it may be soon and maybe months down the road. Remember this is just business to them and they deal with people like you and move on. If you do not want a lawyer to help you, then I suggest you get on sites that list the do's and don'ts when it comes to leasing. You can go back on this site and read up on posts made by people who have some good info. Stephanie has learned a lot from reading as I can tell by reading her post. Just do yourself a favor and do not fall to frustration and sign a lease that has nothing in it to protect or help you. When the company comes back, have a draft made up with your requests and changes you want made to a lease. You can also tell them what monies you want and so on and be blunt, just like they do to people. No wishy washy talk needed here. Read alot and get a good lease and get all of your contact with the company in writing.
DT, How many fish did you catch for dinner? I realize that my share as well as my cousins & my brothers is just as important as the guy who has several hundred acres of mineral rights. But I also realize that we don't have as much bargaining power as he does, but we still do have some bargaining power, if we play our cards right! Otherwise, they wouldn't have written to us in the first place like Miss. Lulu Mae Gray said, they're going to get something out of it also or they wouldn't have bothered to write us in the first place! Thank you for telling me that my family sounds pretty normal, you must come from a pretty twisted family also:). We've learned from the last two offers we were a couple of years ago. One was from a David A. Thompson with Terra Services, LLC representing or getting an offer for EQT Production Co. in July, 2010. The other was from a J. Biehl working for Hawkeye Record Search, LLC again for EQT Production Co. in Sept, 2010. It's not whether we don't want a Lawyer or not, it's if we could work something out with a Lawyer to help us for a cut/percentage of whatever he was able to secure for us. If we can do that then fine, anyone know a good reputable Lawyer that would represent us for a percentage (not over 35%), of whatever he secured for us? In the mean time we are trying to do as much research as we can accomplish, none of us live in WV. any more, my brother is in Cochise Az., Barb (my cousins sister) lives somewhere in Oh. I think, Tom lives in Pensacola, Fl., Don lives in Orlando, Fl., & I live in Zephyrhills, Fl. So it's difficult at best trying to something that we know so little about. My Aunt who was the agent for us sent me papers listing all the mineral rights acreage & all the well #'s but, I've moved twice since then & I don't know where those papers are (Yea, I know, I'm a DA)! And of corse Barb won't tell us anything, she screwed all of us for several years & she's not ready to redeem herself yet! There goes that Dirty Family Laundry again, sorry bout that, damn I gotta watch myself! So we are doing the best that we know how to do for right now, any suggestions would be GREATL appreciated!!! I've ranted enough, & it's LATE, so I'm going to bed.
P.S. I thought I had answered Lulu Mae Gray but, I guess I screwed up & didn't hit the ADD REPLY button, Oh well (deep subject), LATER I"M GOING TO BED!
Mr. Reed, fishing has been good. We fish for Muskie and catch and release them to fight another day.
We have an Attorney who belongs to our site. Kyle Nuttall contributes a lot of info on here and is always giving helpful info. He is on the site and you could contact him for advise. One thing i have noticed about negotiating with the landmen is the leases that are sent out. Make sure you get all of the leases checked to see if the language is the same before signing them. I have seen them send out to people, who live far away from this area, that are different from what was negotiated. They will try every trick they can to save them a dime. The members of your family that want to stick together are the ones who need to get the best deal. The family members who you do not have contact with will do whatever anyway. It's best for one of you to be "the" person who takes charge and keeps everyone informed on negotiating. Ask for a serious amount when it comes to bonus and royalty and that will show the company you have done some research. These jokers who offer pennies on the dollar are using figures that were given back before the leasing boom started. They only hope they run into a royalty owner who is clueless. Believe me they have run into a lot of clueless people and got signatures on a lease and left laughing all the way back to the office. Read a lot and do not fall to any tactic. Check every thing out that comes out of their mouth or on paper and you can ask any and all questions on here. Since some of us live here, we may be able to give you more info on what's going on in the area.
Hello Jennifer, I'd very much like to discuss my Mineral Rights issues with you. Any help that you could afford to me (& my cousins), would be greatly appreciated! I've tried contacting you at the number you left in message you left me this past Tuesday to no avail. I'd still like to talk to you either by phone or email what ever is your pleasure. My phone number is: 813-782-8206, I'm hoping we can finally get in touch with each other to discuss my interests in the Mineral Rights that I share with my brother & cousins, till then I'll be waiting.
Hello I too have a five year lease that I signed with Antero in 2011. We got $1,500 an acre for a total of $21,000 sign on bonus. So yes you need to ask for more than $500.00 per mineral acre. Mine is with my brother and I and ours too is not that much acreage. but together we got over $42,000 sign on bonus. Our well is not drilled yet but last time I spoke with someone from Antero, it was secheduled for down hole date of January, 2015. Good Luck and I hope to hear something soon too.