Deborah,
Keeping in mind, this is nothing more than an educated guess, but I anticipate the leases/modifications signed by StatOil will simply be assumed by EQT. In 99.9% of leases/modifications, there is an assignment clause, which allows the original lessee to transfer a lease without any input from the lessor.
Thanks WV. I was able to get most of the information by āmagicā after I posted my last comment. I got what I needed now need to go back to the landsman to correct the documents. Thanks for your help.
Does anyone know if I can access deed or warranty books online in Tyler County, WV?
SCE,
Try the following link for access to Tyler County records. http://129.71.117.165/
Thank you WV. I put in the complete date and book and page number that I have referenced, also tried the map parcel, but I get 0 docs found. Do I need to know more how to use this website?
If you can give me the Book / Page numbers, I will try my luck. Do you have a name for the primary person on the document?
Hello very new to this. I just found out that I had some mineral rights in Tyler County last February from my fatherās motherās side of the family, a Mary Corbly related to my Father Darl W Phillips, his mother Laura Fox. Has been a bit of a pain in the butt since have been contacted by what I now know is called landsmen about said mineral rights. First guy talked to my little sister then he was gone a new guy stepped in and he was a bit of a jerk. I am being nice with that wording. Seems I did not jump fast enough for him so he threatened me with being taken to court and forced to sign his lease. I was unsure as I have never seen this kind of lease before so I wanted to ask questions and learn more. Seems he did not like that. My 2 sisters and brother all signed right away. I have yet to sign anything and now have another landsman after me to sign. They all seem to have this 2 week time limit or the offer is gone. I just want to know what is a fair deal and to better understand the wordings. I was born at night but not last night. Hate to be bummed rushed into anything. Seem I am one of 96 heirs in this deal and from what I can understand most seemed to have signed right away. I am not rich and cannot afford a lawyer. Got mad when the guy tried to scare me into signing his lease. This new guy has sweetened the signing bonus a little and the royalty 16% is what he has offered at this time, the first guy 15%. I have rights in 3 tracts in District of Meade and Centerville at the headwaters of Sancho Creek. Just at a loss as to what to do and how to do it and wow I have 96 new relations I did not know I had.
Welcome Christine:
I agree with DT.
Start with 20%
I start with 4500/Ac
Ask for wellhead price, strike transportation clause, strike warranty clause if they have one, etc. Transportation clause can be tricky; they will want you to pay for any expenses involved in transportation. I always took that to mean I may be paying for someoneās lunch.
Require field not be used for storage.
Ask lease ends at 5 years; most are asking and require extension at same price they pay now.
Since you have been contacted late, their title work should be done, so ask for max. 90-day order of payment.
Ask for anything else you can think of or suggested in this forum because you have one shot at this and the land agent works for the company, not you. I have had better luck working with the companyās own agent, but that is not always possible.
Best of Luck!
Christine
Welcome to the oil/gas leasing world. These tactics by the company are meant to scare owners into signing. There is no 2 week timeline and once they get your signature they are pretty much done with you. Do you know who pays the taxes on this mineral rights property? There is only one tax ticket for each tract and someone in this group of owners has it. Since most donāt even know they are heirs, they would not know about the taxes.
2 Ask for at least 3000.00 an acre bonus.
3 Get as many changes in the lease as you can to benefit you. The lease the company provides only benefits the company.
Read as much from these sites and look at the Doddridge site too. That site has most of the drilling and leasing in last few years.
A lot of owners sign the first offer because they are led to believe that is the best there is. Also some do not care and money flashed in front of them makes them care even less.
Since there are many heirs to the property, your share may be small unless you are talking about a huge tract. This makes it harder to get better terms.
Take things a day at a time and be patient. This process will not happen overnight. The companies will threaten you, lie to you and use other family members against you.
Remember, this is real property and your share will be yours and your families for years to come.
These are just a few things for starters. Others on here will chime in and add more soon.
96 heirsā¦ There may be 9 maybe 6. The agents throw out a large number to make you think you are just a tiny piece. The main thing is if there are 1 or 100, they still have to come to terms with each person and each person must sign a lease. Wait till they contact you and say āyou are the only one who is holding us up from drillingā. Makes you want to grab them by the throat.
Good comments so far! This group has a lot of knowledge.
Ninety-six heirs might be any number of possibilities for an individualās share. If the ancestor who has 100% interest had 6 children, then each would have 1/6 interest. Then if each of them had 4 children, each has 1/24 interest. If each of those had 4 children, you have each with 1/96 interest. But it could be a different combination. Just something to think about. You would need a family history to figure that part out. And if somebody had no children but left a will giving his interest to his church, or to his brother, or ā¦ That is what the researchers have to do, to get these things sorted out. Not always easy. Just a comment on that aspect.
Hello guys thanks for your input and advise. I have found out seems they have 3 new permits in area where my rights are at or near.
Always helps to let the agents know you are aware of whatās happening. They ālikeā owners who are not informed. Iād say thatās why your first agent moved on and another one came calling. When an owner āresistsā, the company will assign a tougher agent to get the ball rolling. Lol. There are some people on here that can write a book or two on leasing and the tactics that the company uses. There are also some people who are very good on searching records. Keep this site informed and ask questions if you are not sure.
Where did the information on the permits come from?
2016-07-22 WV Horizontal 6A Well Permits Issued to Antero Resources Corporationā¦ WV Horizontal 6A Well Permits Issued to Antero Resources Corporationā¦ WV Horizontal 6A Well Permits Issued to Antero Resources Corporationā¦ WV Horizontal 6A Well Permits Issued to Antero Resources Corporationā¦ WV Horizontal 6A Well Permits Issued to Antero Resources Corporationā¦ 2016-07-14 WV Horizontal 6A Well Permits Issued to Antero Resources Corporationā¦ 2016-06-29 WV Horizontal 6A Well Permits Issued to Antero Resources Corporationā¦
You should take a look at the site. There are a few others. Not sure if it helps or not. I may be wrong, still learning the ropes.
With so many leases being written what happens if a lease is signed, bonus payment made and later found out the person thought to have the mineral rights does not?
Happens a lot. Happened with a cousin whoās mother willed the kids out. The company gets in a hurry sometimes and does not search the records good enough. I imagine the company has came back after some people without any changes in the lease. If you have good wording in the lease saying it is the companies responsibility to get the facts, then the company may be out.