Recent mineral rights found

General Mineral Rights Discussion
1

Found out a little while back that our family owns ~ 95 acres of mineral rights in Greenbrier district, Doddridge County, WV. Got a letter from JRS Land Co. for offer to buy my share of mineral rights. Offer is for " Purchase price (220) x royalty interest (12.5%) x 7.03acres= $21,907.50. Said ownership of land discovered when person thought they owned 100% of the oil and gas and agreed to sell to JRS. After title was complete JRS found a 1/2 royalty reservation in 1899. My great grandfather and another had purchased half the royalty on the 95.13 acres in 1925 of which I learned I own 8.33% of the oil and gas under these tracts. Dodridge Co. had tax records slip through cracks, but we got things straightened out after finding out our interest in property. Letter from JRS states "whereas, the minerals & royalties are currently subject to an existing oil, gas, and mineral lease, dated June 27, 2007 Recorded in Book 216, Page 364 of the offricial deed records of Doddridge County Clerk, which provides for a (12.5%) lessor's royalty and no other burdens against lessor's roaylty interest."

I did not sign this agreement.

Is this offer fair and/or what should we do about our rights being leased out from under our authorization?

2

If the one who signed the lease you referred to has ownership from the other half of the mineral rights, then you are entitled to your own lease at terms you can negotiate. I think the phrase about the minerals and royalties being subject to the lease is not accurate, in the sense that that lease binds the lessor's portion of the minerals but if the lessor doesn't own 100% of the minerals he can't lease what he does not own'

You need a good attorney, I think, to give you advice about this.

3

I would say Do not sell your royalty, you might received that much in royalties in one year, if they drill. If it wasn't worth a lot more JRS Land would not be trying to buy it. I receive offers from them to buy my royalty all the time.

Yes, you need a good attorney.