I was looking to get some information on the 2018 going rates for signing bonus and royalty rates for oil and gas leasing in Ritchie County, WV.
I was recently offered $1750 bonus and 18% royalty for a Clay district small tract.
Was that $1750 per acre or in total? Thanks for your reply.
$1750 per net mineral acre. The landman said the company would not budge from that number. I am not sure about that. Things are getting a little busier lately. The tract in question is somewhat west from the active area, so probably before lone the price starting offer will get higher.
Bonus rates are fluctuating quite a bit in Ritchie County right now, you will find anywhere from 3,500 - 500 ; NMA, all depending on location and production company. I would strongly suggest you concentrate on the royalty rate, deductions and other terms, than the bonus rate. EQT regularly takes as much as 50% in deductions from mineral owners.