Hello
I received a packet of forms with a letter about some mineral rights i apparently own. I am in California and dont know anything about natural gas and i didn’t even know I had family in PA let alone family that had bought mineral rights. So if I misstate this i apologize in advance. Does this happen a lot? I mean people out of the blue getting these lease letters? I looked up the information online and it doesn’t have my name on it, so how did this happen to find me?
Maybe i could get some good information from you all who know more about this, it seems like i am being offered a very low deal. I probably need an attorney but as i am on ssdi i am low in funds to pay one. I hear there may be some that work off a percentage of the signing bonus? The info in the letter from eqt via bop acquisition states: perry township, Greene County PA, 3.232 acres then including that certain real property described in deed by Johnson and Mary Rose dated june 29,1923 recorded in deed book463 page 193 instrument number 195100001298. Also has tax map number 20-02-0153 .
The lease is written as 5 yr with option of another 5. There is an order of payment 100 dollars per square acre payable 120 days and another 60 after written notice if they dont pay by 120. I am unable to find the part with royalties atm but i am sure it said 16%net. Please help me understand this. I could really use an influx of cash to pay back bills etc. but 300$ sign bonus is not going to do it. Who is bop acquisition? I dont see anything other than that as far as money so is the signing bonus the “lease amount” plus whatever royalties are due? Or is there a monthly amount paid to actually lease that acreage and i am not seeing it? Because I dont know anything for lease at 300$ for 5 years. Perhaps that is normal for mineral rights and this is why i came here. I appreciate any help and direction I can get from you here. I was advised not to call the guy at bop because “these guys are very charismatic and know how to talk people into signing for very little money”. Since it is a small acreage amount can i do this without an attorney or is that not advisable? And finally does this mean that i have family in greene county?
Thanks
Janet