# Renegotiating Grandpa's 1962 Wetzel county West Va Lease

**URL:** https://www.mineralrightsforum.com/t/renegotiating-grandpas-1962-wetzel-county-west-va-lease/50922
**Category:** Wetzel County, WV
**Created:** [September 16, 2019, 3:57pm UTC](https://www.mineralrightsforum.com/t/renegotiating-grandpas-1962-wetzel-county-west-va-lease/50922 "2019-09-16T15:57:12Z")
**Posts on this page:** 5
**Page:** 1

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### Author: ![nothingbuthubbards2](https://www.mineralrightsforum.com/letter_avatar_proxy/v4/letter/n/c6cbf5/32.png) [@nothingbuthubbards2](https://www.mineralrightsforum.com/u/nothingbuthubbards2)
#### Post date: [September 16, 2019, 3:57pm UTC](https://www.mineralrightsforum.com/t/renegotiating-grandpas-1962-wetzel-county-west-va-lease/50922/1 "2019-09-16T15:57:13Z")

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SWN reached out to us to let us know we were partial heirs to Grandpa’s 1962 lease. A standard 12% oil and gas lease for the times. They want to renegotiate in order to pool the properties. They say the maximum royalty they will pay is 13.5% because of a prior agreement THEY made with Chesapeake. I am requesting 20% no deductions and $5,000 per acre signing bonus. Am I correct when I state that when they want to renegotiate a portion of the lease, all parts can be negotiated? And have you ever heard of a company trying to keep royalties down because of their prior obligations? Thank you. I am fairly new to this.

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### Author: ![Ice\_Watters](https://www.mineralrightsforum.com/user_avatar/www.mineralrightsforum.com/ice_watters/32/13088_2.png) [@Ice\_Watters](https://www.mineralrightsforum.com/u/Ice_Watters)
#### Post date: [September 17, 2019, 7:19pm UTC](https://www.mineralrightsforum.com/t/renegotiating-grandpas-1962-wetzel-county-west-va-lease/50922/2 "2019-09-17T19:19:08Z")

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You might be able to get those terms on a brand new lease, but the most you’ll get on a modification is generally a point or two on your royalty & 250-1000/acre.

All parts can be negotiated, but they will only bend so far. A lot of mods are signed with no money & no uplift in royalty, you won’t get deep production royalties however until you sign the mod.

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### Author: ![nothingbuthubbards2](https://www.mineralrightsforum.com/letter_avatar_proxy/v4/letter/n/c6cbf5/32.png) [@nothingbuthubbards2](https://www.mineralrightsforum.com/u/nothingbuthubbards2)
#### Post date: [September 18, 2019, 12:22am UTC](https://www.mineralrightsforum.com/t/renegotiating-grandpas-1962-wetzel-county-west-va-lease/50922/3 "2019-09-18T00:22:34Z")

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Thank you Ice\_Waters. I will keep that in mind.

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### Author: ![nothingbuthubbards2](https://www.mineralrightsforum.com/letter_avatar_proxy/v4/letter/n/c6cbf5/32.png) [@nothingbuthubbards2](https://www.mineralrightsforum.com/u/nothingbuthubbards2)
#### Post date: [March 29, 2020, 12:04am UTC](https://www.mineralrightsforum.com/t/renegotiating-grandpas-1962-wetzel-county-west-va-lease/50922/4 "2020-03-29T00:04:34Z")

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Ice\_Waters, You were mostly correct. I got them from 12% to 13.5% with a $4,000 signing bonus and no post-production deductions priced at the wellhead. Thank you for the advice/opinion. DH

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### Author: ![system](https://www.mineralrightsforum.com/uploads/db5755/original/3X/6/c/6c7c56608c843272ad6e3662ce9562a5956f173e.png) [@system](https://www.mineralrightsforum.com/u/system)
#### Post date: [June 27, 2020, 2:07am UTC](https://www.mineralrightsforum.com/t/renegotiating-grandpas-1962-wetzel-county-west-va-lease/50922/5 "2020-06-27T02:07:13Z")

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