Wife inherited 50 acres in proctor county WV. Antero o&g has sent an offer of 2000 sign bonus and 15% royalty’s on 3 wells on 3 different parcels adding up to 50 acres. What’s the going rate? I know this is a lowball first offer, but I don’t know the average?
I’m not familiar with going rates in that area, but you might have more luck posting in the WV forum and titling it with going lease terms.
Simply respond to them that they need to improve their offer. They will most likely as you what type of terms you are anticipating. Let them know you are considering other offers at this time and will not share that information. It does not always work, but some will jump their offer immediately.
@Keenan -Antero is very good at explaining what your net acreage is out of the 50 acres. This information will be in the introductory letter they send with the lease packet. You are correct; the first offer is always lower. Depending on the net acreage she owns, consider contacting an oil and gas attorney or professional.
Where is Proctor County? Never heard of it in WV
Proctor District, Wetzel Co, WV