MC Mineral co. is interested in PURCHASING, not leasing, oil and gas minerals, whether leased or un-leased, producing or non-producing on my property
PLEASE HELP.. here is the story. I have been trying to lease my property for some time to Chesapeake and have been told by the landman that the property was under production. I come to find out today via documents sent from enervest that it is currently under an old lease signed back in 1968 by the original property owners for my section of the original farm. I was entitled to a portion of the well from the time I owned the property 12 years ago but they are not obligated to pay me until the day I sent the e-mail to them inquiring about a possible lease (about one month ago). They want from me all the deeds for all the past owners of the property from when the lease was originally signed. I am guessing that there are 4-7 different owners in this time period. That means I have to get all this info dug up and sent to them and then I am at their mercy, per enervest..." we may review each of the deeds for any reservation of the oil/gas/minerals prior to setting you up as a payee for your proportionate share of the royalty, if you are entitled." . With all this work I might end up with a couple bucks per month because the well is old and according the landman working for Chesapeake it was in production around 70 days if I remember correctly.
Main question is.. am I better off in this situation selling the rights to MC Mineral for the $2,500 an acre they are offering and call it a day. Seems that evervest can hold the lease to eternity therefore negating any monetary benefit I could possibly receive from any deep well drilling that may go on in the future.
Is $2,500 an acre a fair amount for all the rights and royalties? I hear that most folks around here get about $2,000 - $2,200 an acre for a 5 year lease with 15-18 percent royalty (hearsay).
This is a small parcel about 2 acres but my mother has about 10 acres and she is in a similar situation. She is just down the road from me. What would you do if you were in a similar situation as me and or my Mom, Thanks and God Bless.