Antero sent me a letter stating I have an inherited interest of gas mineral rights in 53.00000 gross acres of land in the Ellsworth District of Tyler County WV. And they want me to sign a Flat Fee Paid-Up oil and gas lease for a 200.00 signing fee and a 12.5 % royalties. The prospect is listed as Rabbit Ears
The 53.00000 is 2 separate tracts of land in 2 different locations…one tract is 28.00000 acres and the other is 25.00000 Only the gross amount of the acreage is listed in the contract. There is no net acreage listed, which I’ve read online is listed in some contracts. I am trying to ask the man representing Antero what is the amount of my net acreage.
We called the land agent in the letter and this is a legitimate inheritance. However, this is all new to our family and we have a few questions.
Is it worth pursuing guidance from a lawyer to get a better contract/royalties?
Since it is 2 different tracts of land Antero wants to lease…should there be 2 lease contracts for each tract of land?
There is no net acreage listed on the contract. Are they offering me royalties on the gross acreages of 53.0000 or should I determine what the net acreage is for my share if I sign (I believe there may be other people involved with this claim)? This is what the lease says: “Or is the net amount covered in the wording of the contract in section 1. Leasing…for the purpose of this lease, including determining the amount of delayed rentals, royalties and shut-in royalties hereunder, said land shall be deemed to contain 53.000 gross acres whether it actually contains more or less.”
Thank you for any advice you could give me.