Hi Nancy, Antero had contacted me about the Ellsworth property, but I ignored their letters until finally they went to Tyler County Court to force me to sell them the mineral rights under some (obscure, at least to me) WV law. But at the equivalent of $7,000/nma I guess I can’t complain too much.
They might be willing to buy your other tract for that price.
Yes, I dont know if the economics between the Ellsworth and Meade districts are at all different, but $7,000/nma sounds like a solid counter offer to me. Thanks!
My husband signed the papers for the lease and I believe we ended up getting $350. That was several months ago and we haven’t heard anything else. What should we expect from here on out?
The company won’t typically communicate with you until they’ve established production (drilled the well, fracked it, built pipelines to the location, started flowing gas, and selling). Once they’ve done that you will get a Division Order from them. If anything in the D.O. is different from what you agreed to in the lease, strike through that language and initial next to it. Then return it to them. They’ll start sending you checks pretty quick. By law in WV they have to send out first checks within three months of first sale or first production, depending on how you read the statute.
Yeah, $7K isn’t bad at all in Tyler. You can usually get a little more in an arms-length transaction, though. Ask for $10K to give yourself some negotiating room and see what they offer.
Hi Kyle, I have just received a new offer from Antero to purchase my 0.17 nma in Ellsworth district, Tyler County. Back in 2019, you thought $7,000 per nma was a decent offer. Do you think that would still be the case currently in late October 2021? Any guidance would be deeply appreciated.