Hi. I have a lease with Antero in Tyler county, Ellsworth district. Parcels 2-6-12; 2-6po 12, 2-6 po 13; 2-6- po 12.2; 2-6 po 12.1; 2-6 po 13.3; 2-6 po 13.1; 2-6 po 13. They have recently contacted me with an offer of 6500.00 per nma. I cant seem to access any sites to check on if there is activity or permits issued. Help?
Hi Cheryl, Looking at the Oil & Gas Map on the WV DEP site you have new wells permitted just west of your parcels and producing wells south of you that have very good volumes. Couldn’t find any new permits yet that overlay your parcels but it is logical that Antero is probably interested in that area for new development hence their offer to buy. As many of the professionals have stated before unless the purchase offer is needed now to take care of financial issues you will probably be better off holding on to your leases and enjoy future royalties. Of course it depends also on the royalty interest that is in your leases and each person’s individual situation. If you decide to sell I would ask for more per NMA. You can check the Weekly Reports on the DEP site to see if any proposed permitting shows up involving your parcels. Good luck and I will try to keep an eye out on any future developments.
Thank you for the information! I live out of state and all help is greatly appreciated
My lease states 18% gross royalties. I hadnt received a DO so was curious
Cheryl 18% is a good royalty. A DO wouldn’t come until the well or wells were completed and most likely pooled in order to set the final decimal interest. We are also out of state and I have relied on sites like the WV DEP and others for maps and data base information. Since Antero offered to buy I would be fairly confident they are planning on developing your area. I attached the DEP map with an arrow close to your parcels.
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Thank you so much! This helped alot.
Can you provide a link to the WV DEP site? I am new and still learning - thanks
Hi Philip, Here is the link to WV DEP: General Information. That should take you to the Office of Oil and Gas. If that doesn’t work just type dep.wv.gov and then select the Programs button, then select Office of Oil and Gas and then select Database and Map Information. There are several other items to search other than just the maps. If you have a specific county check their website and look for online documents where you can search for leases, Designation of Pooled Units (DPU) and numerous other documents including those related to a specific name. Good luck. Hope that helps.
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