Hello, I have a question. On my memorandum of oil and gas lease through antero resources it says gross acres 108.51875 my question is is that the actual acres that I have inherited or total acres that is being drilled on but are not mine?
I think that is the total amount of acreage you have. Its the net acreage that is what determines how much you will get in royalties if they drill on your gross acreage.
@KBragg Leases normally have the gross acres of the parcel. It is not usually your net acres. You would have to trace the title chain to know the exact net. You can try contacting Antero Resources and asking them how many net acres they are carrying for you.
Thank you for responding to my question. I looked on my contract but only see gross acres. I will contact them. Thank you again!
West Virginia minerals many times have been divided many times, and you may own 1/2, 1/4, 1/1560, 3/420, etc. You can do a title search (or have one done) to determine your percentage in the mineral parcel. Also, the offer letter from the producer you you signed a lease with may give what they have down as your “net acres”, or the Order of Payment you signed may list the net acres. You can also calculate the net acres if you know what your bonus payment was “per net acre” to lease. For example if you got $2000 per acre to lease, and you had a bonus payment of $30,000, then your net acres are 15 net acres. Then you can divide 15/108.51875 which would give you your fraction or percentage of ownership in the minera parcel. (At least what the O & G company is crediting you with. Of course you can contact owner relations of the company and ask. Or, if you still have the contact number for the landsman you dealt with, call them and ask if they can look it up for you.