I just received Lease Doc. to sign, under ownership it has 1/280. The gross AC is 31.762, my net AC is 0.11343571. The ac is in Monongalia County, WV. It is Marcellus Shale. They have $200 on the contract. The Co. is NORTHEAST NATURAL ENERGY LLC, a Delaware Co. This is all new to me, I need help on the amount for signing the lease & also they have 15% on Royalty! The information would be greatly appreciated!!
Thank You, Darlene Middleton
Ask for $400 and 18%. There are other things in a lease that are important, too.
Here are two links that I found on this site a few years ago:
Links for Oil and Gas Lease Terms and Negotiation
CHECKLIST FOR NEGOTIATING AN OIL AND GAS LEASE
Hints on Negotiating An Oil and Gas Lease
I want to thank you so much for taking the time you spent in depth on responding to my questions!! I have only had time to read 1/2 of the first link, will read more tonight. The lease came out of the blue & I did not know anything about mineral rights, now at least I am starting to learn. I really appreciate it!!
Thanks again, Darlene Middleton
Nancy Mosley said:
Glad to help Darlene! There are a lot of good people here. If you have time, go join the Doddridge County group and read there. Very busy, lots of good info. And ask questions.
I am an oil and gas attorney licensed in WV and KY. I specialize in the review and negotiation of leases. You want to make sure you protect your rights and interests (no warranty, indemnification, etc) and also get the most money possible. If you decide to let a professional handle this matter for you, please contact me at 304-382-7847 or ahboggslaw@Hotmail.com. My website is under construction, but I also have a Facebook page.
My fees are follows:
$500.00 for lease review and revision (I will let you know exactly what language you need added and what language you need to have deleted.)
If you want me to negotiate it, my fee is 20% of what money I can get you over what they have already offered you. Meaning if they offered you $1000.00 and I got you $2000.00 then you would only pay me 20% of that $1000.00 increase = $200.00. It's a win-win bc if I don't get you more oney then you don't have to pay me anything to have it negotiated for you.
Thank you, Apryll H. Boggs