Going Rates for Oil Leases in Wetzel County WV


#1

Hello all,
This is a completely foreign subject to me. As such I am fully ignorant to almost any aspect of mineral rights, leasing, selling, etc.

I received, completely unexpectedly, a contract in the mail from Antero, offering to lease mineral rights from me for a tiny chunk of land that I had no idea that I was even entitled to, in Green district of Wetzel County WV. I spoke to one of my brothers, who said that apparently on our grandmother’s side of the family there is some land that is divided among a number of remaining heirs. That part makes sense to me.

I really am only am interested if the terms are fair.

for my share, which is 0.021466 acres (wow right?) they are offering $75 plus 16%. If I figured it out right, that works out to nearly a proportional share of ~$3500 per acre. Is that reasonable? Does the royalty percentage fall in line with what is to be expected? Is it even worth sweating it over such a small bit of property?

Thank you so much in advance for any advice.