I am a new member. My family has recently received an offer to lease the rights for gas and oil on a 12 acre parcel in Monongahela. This land was owned by my grandfather and was sold more than 50 years ago. But grandpa reserved the mineral, oil and gas rights. The offer is $3,000 per acre when we sign the lease. The value of the royalties has not been discussed. Is this offer the current market price?
That bonus isn't bad, depending on how much they need you. There's quite a bit more to it than that. The royalty and how it's calculated, when the bonus is received, shut in conditions, extension...
Look at the investor presentations from the company that's trying to sign you. Look at the state's info on drilling, including production info. Read up here and other forums. There is one that has a number of Washington county members.