Lease offer in Doddridge County

Oil and Gas Leasing Help
1

Hi,

I recently got an offer from Antero for a 22 acre tract in Greenbrier District of Doddridge County. After a bit of negotiation, the current offer is $2500 per acre and 18 percent royalties without a depth clause and 1800 per acre and 15 percent royalties with a depth clause.

I was wondering what the group thinks about the offer and if it is wiser to go with the depth clause and lesser amount of money / royalties.

Thanks

Gary

2

Gary,

You should post on the Doddridge County part of this page. I am sorry I didn't notice this before. =(

http://www.mineralrightsforum.com/group/doddridge-county-wv-oil-gas

3

FYI, the posts I heard from my lawyer is $1000-1500 per acre and state minimum on royalties is 12.5%. If that helps at all.