Northeast Natural Energy has been taking leases and getting well work permits in Monongalia County. I've worked on a new lease and a modification of an old lease through them in the last two months. It seems they are going after the Marcellus, even though CHK pulled out of that area because of disappointing production numbers. I wonder if they're going to go after the Utica soon. Thoughts, anyone?
I was contacted by Northeast yesterday wanting to lease some from me. Wondering if anyone else has leased to them and more details? Also, if there is much production in the county. I am in Texas and need information . Thank you.
I was contacted today about a lease with NE Natural Energy. They're offering a 5-Yr lease and 16% royalty. The lease does deduct post-production costs from gas royalty. I am familiar with O&G leases from Oklahoma, so wonder if 5-Yr terms and deduction of post-production costs are normal for WV. I've never had a lease for more that 3-yrs in OKLA. Also, land descriptions in WV are completely different. Are court documents available online? If so, could you provide a link. Any thoughts or advice will be welcome.
Did you know you had minerals in WV? When contacted, I did not. I have never leased for more than 3 years also, plus the lease adds a 3 year lease to the 5 years. It also covers coal, etc. My attorney is out of the country until January, so I will have him read it before I sign. The royalty is also lower than I have signed in Texas or Oklahoma. What part of the county are your minerals?
No, didn't know about these minerals until today. The land description is District of Clay, Tax Map 26-6. I haven't attempted the Assessor's office to see an actual map. Our lease also would allow a renewed lease for another 5 years at the end. The royalty isn't too bad compared to what I've gotten in Oklahoma, however, and the lease bonus was higher than anything I've gotten before. The landman was very nice, but I'm just not familiar with WV so thinking and hope someone with some knowledge responds to our posts.
I own a portion of that too…and yes steve was very nice…my brother and I signed off in Feb 2017…our land is “pooling” with a well 10,000 feet away and 10 more with permits…we have yet to see royalties…have you?