EQT is offering me an "Upfront signing bonus" of exactly $3,000 per acre. Is this about the going upfront signing bonus rate per acre for mineral rights in Wetzel County? This is in the Grant District. When I received my "draft contract" to look over, it indicated that I had rights to 1.2958 acres. What have other people received as signing bonuses in the same area?
How do they calculate the "Upfront signing bonus" for a mineral lease they're offering me, and how do I know whether or not it's fair?
Their first offer is always lower than they'll pay. Ask for more.
That is an advantage of an experienced WV Oil and Gas attorney: he/she can know what the company usually offers and will accept.
Perhaps people can add here what have recent offers been.
Offers in Wetzel are between $3000/acre and $4000/acre depending on the company and the location. You can negotiate up to about $5000/acre most likely, maybe more. Marshall County, just north of Wetzel (not sure if you're from around here or not) is getting negotiated bonuses of $6500/acre in some cases. It seems like there's an area of Marshall that the companies are fighting over. Definitely ask for more than you think you can get. They won't walk away from the deal, but their response will give you an idea of how far you can push them.