Does anyone know much about petro edge. Do they have a partnership with a driller or why would they lease my property. I guess i am asking since i signed with them do i have any chance of drilling on the land i have mineral rights on ,any info is app. THANKS.
We had a lease that they owned for a few years in Ritchie. They either sold it to Quest who became Post rock or merged with Quest. During their time they drilled a new well on the property along with operating two older ones.
We have 2 leases with them with no drilling or resell yet.
If you go to the State of WV well drilling permit page you will see some permits issued to PetroEdge.
From my understanding PetroEdge does both, reselling and direct drilling of property they own. WV is sort of the wild-west of mineral rights right now. If a company can get a 640 acre plot they will drill. They know the natural gas is down there so there isn't much risk to them. Otherwise if they can make more money reselling the lease they will.
The risk to you, the owner, comes down to how much land down you own? If you own an entire 640 acre plot then you could retire on the bonus alone. But the less part of 640 you own then less chance of drilling as they have to coordinate leases with other mineral rights owners.