With that small of a net I’d consider selling. I usually recommend people keep it, but it’s just not going to pay much and may end up being more of a hassle with tax paperwork, etc., than it’s worth. However, if you want to keep it, make sure you get a No Warranty of Title clause, a No Recoupments clause, a Hold Harmless/Indemnification clause, Gross Proceeds, Marcellus Shale only, and more money. They’ll pay you quite a bit more than you think. If they’ve offered $200 to sign, you can probably get $500 if you push them. Ask for $1000. Also get a higher royalty. They want you to sign quickly, and that’s all the “10 days” language is for. They’ll work with you far beyond that deadline. Good luck, and have fun!
1 Like