I am wondering if it is possible lease a second property to a different company if they are interested? We currently have a lease with Antero for one parcel in which our family owns mineral rights but not the land. According to Deed research, our family also owns the mineral rights to the adjacent property, again, we only own the mineral rights, but they have not offered a lease on that property as of yet. When I inquire they tell me their legal department has to do their “due diligence” and their own records research to verify before they can extend an offer. It has been almost a year so we want to lease to a different company. Is this possible? Can anyone tell me what other drilling companies are there? We do not reside in West Virginia. THanks!
I believe This site should help you see who is operating in your area. https://tagis.dep.wv.gov/oog/
It might be possible to lease to a different company. Even when that company isn’t actively operating in that area, they may want to take a lease from you just so they’ll have negotiating leverage with Antero. These companies swap leases all the time, so having a lease on property that Antero wants may be good for, say, EQT, SWN, NNE, CNX, Tug Hill (soon to be acquired by EQT), HG Energy, Arsenal, and JayBee.
Regarding Antero’s due diligence, that means they are doing research on the title to the oil and gas rights. That research may not be a priority for them at the moment as they may not be planning to drill on or under that piece of property soon. They may not even have a landman working on the research at the moment. But the fact that they say they are doing due diligence on that property means it’s on their radar, so to speak. That’s better than them saying they’re just not interested in that property.
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