We received the initial offer (these seem to take a great deal of time to put together) from Antero in Pleasants County, WV. Here is what we have seen just looking it over initially.
Royalties: For oil, 12.5% of gross proceeds, less 12.5% of post production costs. For gas, including casinghead gas or other liquid or gaseous substance, 12.5% of gross proceeds, less 12.5 % of post production costs.
How is this and what else do we need to look out for? I have some thoughts, but this is the first time.