I just received Lease Doc. to sign, under ownership it has 1/280. The gross AC is 31.762, my net AC is 0.11343571. The ac is in Monongalia County, WV. It is Marcellus Shale. They have $200 on the contract. The Co. is NORTHEAST NATURAL ENERGY LLC, a Delaware Co. This is all new to me, I need help on the amount for signing the lease & also they have 15% on Royalty! The information would be greatly appreciated!!
Thank You, Darlene Middleton
1/280 represents your share of the minerals in the gross acreage. As a mineral owner you have every right to negotiate the terms of your lease… you can ask for a higher bonus or a higher royalty, or both - but keep in mind that oil prices have declined and companies don’t have the capital expenditures they had even a year ago. If your land is in a proven/producing area, then it may be in your best interest to focus on a higher royalty rate and concede on the high bonus in exchange. If they are sending you to another company to lease under higher terms, then maybe they really are giving you their best offer they’ve been approved to give. Good luck.