Hello all. My brothers and I inherited 10 acres of mineral interest in WV. This inheritance happened years ago, unbeknownst to us. We only just now started getting offers about it. The offers are low as far as the bonus, $400 flat. 16% royalty. A family member is a lawyer who is currently working on gathering certain documentation about the history of this land, to help us determine its actual value and if these offers are too low. We’ve determined that we will not be signing anything until we can make an informed choice.
But, that being said, does anyone have any experience dealing with mineral rights in this county? Or any phone numbers to call in Wetzel to get any information pertinent to our parcels?
Looking for guidance and wisdom in this arena. This is a completely new subject to me, so l’m just taking steps forward intuitively. To me, it seems the next right move would be to contact the county, see what energy company previously held the lease, if any, and what their production was. Any suggestions?
Your attorney relative probably knows the correct procedure to check the title.
Many offers are lowball to start with just to see if anyone will bite. If you are getting offers to buy, then many someones know something you don’t know. If you are getting offers to lease, then that means there is some interest in drilling.
If you are new to this, the Mineral Help tab above is a good place to start. Also, the National Association of Royalty Owners has a good book called “Look Before you Lease” by Stafford. I bought it at one of their conventions, but you may be able to find it online. A bit out of date, but very good on the general terms.
If you can get a no post production charges lease, that would be beneficial. The draft lease that an agent will send is probably not in your favor, so needs quite a bit of editing by a good oil and gas attorney. Several have been mentioned in the WV threads.
M Barnes
Recently got a letter for a “modification of oil and gas lease” from Antero Resources Corp a Delaware Corp out of Colorado. The Lessor was my mother and has passed 3/2023 and it was left to my sister an I. I know we have to change the lessor name to our names and are prepared to do so.
The amended says “to include the following provisions:”
It then goes into 2 paragraphs about “pooling”.
We are completely new to this and are reaching out to Antero.
My first question is understanding the wording of the lease. Any information is appreciated
First of all, get the title changed to you and your sister through the proper channels. I rarely will agree to a modification of an oil and gas lease. Ask for a copy of the original lease and a copy of the modifications. So far, most requests for modification have been to the operator’s benefit and not mine, so I refuse.
There is a new pooling statute in WV, so it might be a good idea to get an attorney to look at the language before signing anything.
Hello my sister and I have inherited 37 acres in Werzell county and in February we each leased it again for $500 but every time that I reach out to someone regarding status I am not contacted
@lisa1 Welcome to the forum. Hopefully you were paid on your leases.
There is often not immediate activity on a lease. You can watch your area on the West Virginia well records site. OOG Well Work Permitting Report. The price of gas is very low right now, so many companies are delaying drilling until a more economic time.
It can take months or years before they drill and you are paid. I have 40 or 50 leases with them that are producing. However, the last six leases I signed with them, they waited 5 (6) years and let the leases lapse and did not renew. Not happy with Antero right now. Royalties are paramount, but it also pays to get a good bonus, just in case.