Randolph County

Has anyone heard of Blue Scape Resources in this area? I own some mineral rights on 3 different tracts. 2 are leased, but we're not getting anything right now. Blue Scape is interested in "buying" mineral rights on the other tract. But they are not offering much of nothing for it. $500 an acre...and this is divided on a percentage basis! I think that is way way too low to purchase rights in the Marcellus Shale area. Anyone heard anything?

I did some internet research. Bluescape Resources is based out of Huston and has an office in Summersville. It looks like they are a real oil and gas company.

Find out if they are buying or leasing. Only deal if they are leasing.

Find out who the other owners of the mineral interest are and band together. You'll have more negotiating power that way. You can also afford to hire an attorney (me please!) to review the lease. Never sign the standard lease they present to you. They will always negotiate terms, royalty, and bonus. Those are listed in order of importance, by the way. I would think that you can get quite a bit more than $500 and acre.

Pro tip: if they have approached you, saying that you own minerals, do not warrant title. That means you will defend title in court if necessary. That can be expensive. They are relying on their own title work, and should not expect you to defend their work.