I recently received an offer to lease mineral rights that I did not know I owned. This came about from my grandparents. I received a lease in the mail. They offered $10.00 per acre. I have researched this to some extent and have determined there has never been any taxes paid or assessed on this.
Just (3) months ago, I received an offer to lease other mineral rights that I was aware of and pay taxes on every year. My known mineral rights in Tyler Co WV had an offer of $1,000.00 per acre. I am in the process of leasing those rights. Why would I only be offered $10.00 per acre in Doddridge Co, WV a neighboring county. I am dealing with two different firms. Both seem to be interested in the possibility of a marcellus shale well drill. AM I BEING RIPPED OFF ON MY OFFER OF ONLY $10.00 per acre for DODDRIDGE CO., WV. I hate to have to contact an attorney of this 2nd offer.
I contacted an attorney of my first mineral rights lease. Leagel advice is expensive. Can anybody tell me what the going rate for leasing mineral rights in Doddridge Co., WV per acre is.
Ask the company leasing your mineral rights in Tyler to also lease your mineral rights in Doddridge County at the same terms, make it a package deal. Depending on how bad they want to lease your mineral rights in Doddridge, they may go for it. You have some leverage if they are offering $1,000 per net mineral acre.
I wouldn’t accept 10.0 per acre, you should think about making a counter-offer at $1,000.00 per net mineral acre. More important than the bonus is the royalty (try for 15%-20%). Be sure you add provisions that the attorney added to your first lease to any subsequent lease.
OR, use your attorney to negotiate second deal. I am not an attorney.
JC - Independent Landman
There are two groups I know of:
http://www.pagaslease.com/natural_gas_forum/index.php
and
http://www.gomarcellusshale.com/group/westvirginalandowners
that might help in finding what is currently being offered in Doddridge. I think it is much better than you have been offered.
We are currently looking to negotiate on our acreage in Tyler County. A Marcellus Shell well will be drilled in Tyler County, Md in May. If the projections are correct, we should be able to get $2500.00 and up per acre, plus a higher than the normal 12.5% royalty.
Hey deal with them yourself. Why pay an attorney. Don't act anxious! Call companies in Texas, ect. The more you talk with people, the more you will learn. Remember these offers have gotten smaller, because they have bought a lot of rights. But there is always brokers who want to make $ of your rights. Attorney's can make there OWN undercover deal with the Gas Co. Telling you, the offer is fair. But making a deal to get $ you won't see, with the same company, by offering to LOW BALL you. When you sign with an attorney you may be locked in. WE ARE SELLING R MINERAL RIGHTS TO INCLUDE ANY GAS AT ANY LEVEL INCLUDING THE NEXT LEVEL, UTICA. WHICK MAY BE BIGGER THAN MARSELLUS. IT IS NOT AS VAST AS M. BUT MAY BE MORE PRODUCTIVE. IT ALL COMES DOWN TO; CAN I WAIT & TAKE A CHANCE OR DO I NEED THE $$$$$$$ NOW.