Marion County lease proposal

West Virginia Mineral Rights Marion County, WV
1

I am hoping to get some information and guidance for my 88-year-old Dad. He recently received a letter from an EQT landman for a lease proposal of 3.25 gross acres in the Mannington District, Marion County, West Virginia. Tax map 12-56-p/o11. According to the documents sent to him from EQT, it states that he owns a small oil and gas mineral interest as an “eventual heir”. They are willing to offer a $300 flat rate payment to lease his interests with 15% royalty each month. He is on a fixed income.

We had no idea he was an heir to the above. What does Eventual heir even mean? How much would it cost for him to get an attorney? He is on a fixed income, so I am also concerned about liability if he was to sign the lease agreement.

Thanks in advance for your help!

1 Like
2

Your Dad’s interest is probably very small, need to ask EQT what he owns in the title. Sounds like EQT is paying him a flat fee bonus. 15% royalty is net, not gross. You may want to contact an oil and gas attorney or a Land Professional to get help with this.

3

Do you know where to find the original oil and gas lease from an inheiritied lease?

4

All leases should be filed in the county clerk’s office.

5

It’s probably necessary to review your Dad’s financial situation regarding the potential income from that 15% royalty, along with the flat $300 monthly leasing bonus.

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