From Dominion Transmission to aquire storage and easements and agreements on their behalf in Gilmor, Harrison, Lewis, and Doddridge counties for expanding the present Fink/Kennedy storage field.
Enclosed for my review and consideration is easement and agreemen tproposal
Easement and agreement of .06 and .84 acre tract which I own 16.667% of the surface.
$7.5o payment and $100.00 signing bonus.
Is this an acceptable agreement or are people getting more?
I don't know what the highest best use is for your property but it doesn't sound like enough money to make it worth binding yourself into a contract.
1 hour of a lawyers time would likely be more than the bonus. If you are eventually stuck with the clean-up, it could be far more costly than what you receive. If there is hazardous clean-up, even more so. I look at it this way, O&G companies are horrible at performing according to contracts so each contract is = to either eventual great unhappiness or a lawsuit, in which case you won't be very happy either.
I really think it is important to run this past a lawyer and not restrict him to a quick read.
In my personal situation, I would pass on it because the absolute highest gain possible isn't worth burdening myself and my property with the contract. I would look more favorably on the sale of my surface interest (which would relieve you of liability issues), unless there were some sentimental value? If there were some sentimental value? I would certainly not want them using my surface because I presume, with good reason, that they will not leave it in the condition that they found it. Some points to ponder.
It's best to "take heed" from what these experts tell you.
Good luck,
Pat
I basically got same proposal for an acre. I don't like the wording of storage and easement. Does easement mean pipeline? What do gas and landlease people do after they die? Answer: Lie still.
It sounds like an underground natural gas storage field. Leasing your property for underground storage may exclude you from being able to lease for drilling / production of hydrocarbons in the future. Given the low rate offered, I would pass. Not worth tying your minerals up for eternity with little or no future income potential.