Current lease terms for Grant District, Harrison County WV? I'm getting offered $2,500 acre 16%

Oil and Gas Leasing Help
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What are the going lease terms for Grant District, Harrison County WV? I’m getting offered $2,500 acre 16% on approximately 10 acres.

Thanks.

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Here’s what Bard said:

Current market rates in Grant District:

  • Lease bonus: Based on my research and consultations with experts, the current market rate for lease bonuses in Grant District ranges from $2,000 to $5,000 per acre. Your offer of $2,500 per acre falls within this range, but it’s closer to the lower end.
  • Royalty rate: The standard royalty rate in West Virginia is 12.5%. Your offer of 16% is higher than the standard, which could be considered beneficial.
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Hello, my family is from Harrison County and we used Miller Law Firm out of Fairmont, WV to negotiate the lease. 16% is good but is it gross at the wellhead? Please contact an oil and gas attorney.

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