I recently inherited various mineral rights from my grandfather in Meade, McElroy, and Ellsworth Districts in Tyler County. They are not currently leased due to the estate being tied up legally for years. I do not live in the area and am not fluent with oil and gas leases. I don't know anyone in Tyler County and am looking for some help. I have been reading about leases and see a wide variety of lease prices and royalty percentages but would like to know what the going rate is. Its only a matter of time before companies call me and I want to be prepared. Who are the main gas companies with the most leased acreage? I know asking about monetary figures is a little sensitive but any help would be appreciated.
I think Noble, Antero, Jay Bee and EQT are the companies who come to mind. Read thes site and google tyler couty leasing (find the proper terms) to see some info. People are getting a few thousand an acre, 15 to 18 % royalty. However the big thing is terms of the lease. Most (probably all) companies are trying to pass on post production costs to the royalty owners, which is a bad idea. Find a good oil and gas attorney to help with that when you are offered a lease. you can find recommendations on this site. I have used Kyle Nuttall, a very good (also busy) attorney in the area. Ask questions here, and research as much as you can.
I am from Oklahoma, it is hard to know what is best when you are out of state. We (several family members) signed a lease last year, Ellsworth Dist, Tyler Co. with PetroEdge for $2500. an acre and 16%, we may have held out for more, but we were ready to get it done. They were in sort of a competition with JayBee signing leases, Jay Bee was trying to buy our lease out from under us even though we have owned and paid taxes for over 100 yrs, I think they finally threw it out of court. It is hard to get info from people especially if they are the land owners as well. We used Kyle Nuttall also, nice young man.
Bertie Lou Stringfellow said:
I am from Oklahoma, it is hard to know what is best when you are out of state. We (several family members) signed a lease last year, Ellsworth Dist, Tyler Co. with PetroEdge for $2500. an acre and 16%, we may have held out for more, but we were ready to get it done. They were in sort of a competition with JayBee signing leases, Jay Bee was trying to buy our lease out from under us even though we have owned and paid taxes for over 100 yrs, I think they finally threw it out of court. It is hard to get info from people especially if they are the land owners as well. We used Kyle Nuttall also, nice young man.
We got a similar deal from PetroEdge, also in the Ellsworth district. The attorney I used was Brad Stephens in Morgantown, WV. Very prompt and professional.
My attorney said the more ownership percentage and the larger the tract the more you will be able to command in the lease. We have a minority ownership of a fraction of the 640 acre plot they need to drill on so we weren't able to negotiate much. I'm still happy with the deal and don't feel cheated.
We bought property in the Ellsworth District on which, according to our lawyer, we owned all mineral rights. Last week we were approached about leasing our mineral rights for drilling in the Marcellus Shale. They told us that we only own HALF of the mineral rights, I need to verify this.
Soon after we moved here I traced our property back to about 1890 and no rights were reserved. Unfortunately, there are so many abstractors for the oil companies that I cannot get to search for my own property unless I stand in the line that stretches around the block!
We moved here to live in a rural area without city lights and all the noise, but if they proceed as planned, drilling will begin about 200 feet from my house. The platform will strip the mountain of trees and flat top it even though it is located in our watershed for our drinking water.
I am curious as to what specific property mineral rights you inherited in this district. Do you ever give any thought about what this will do to our surface land and our quality of life?
Nancy
We were approached by Siltstone Resources to sell our mineral rights in Tyler Cty, Centerville district. They are offering $2000/acre which I think may be a bit low. Antero was assigned deep drilling rights. We have posted on this site in the past (James Ireland EST). Have you or anyone on this site heard of this company or had dealings with them??
Thanks, Charles Towles
Nancy Mosley said:
I think Noble, Antero, Jay Bee and EQT are the companies who come to mind. Read thes site and google tyler couty leasing (find the proper terms) to see some info. People are getting a few thousand an acre, 15 to 18 % royalty. However the big thing is terms of the lease. Most (probably all) companies are trying to pass on post production costs to the royalty owners, which is a bad idea. Find a good oil and gas attorney to help with that when you are offered a lease.
you can find recommendations on this site. I have used Kyle Nuttall, a very good (also busy) attorney in the area. Ask questions here, and research as much as you can.
Sorry never heard of Siltstone Resources. They sound like they might be lease brokers, getting leases and selling them. Could be wrong.
My brother, sister & I are heirs to the mineral rights of our grandfather's property in Tyler County, WV. We signed a lease with Antero in August 2014. we were to get thirty five hundred per acre plus royalties. I don't believe they are drilling there . the attorney we used was right across the hall from Antero's office, his name is Dean Rohrig. We signed the lease in Rohrig's office. We did not get the amount (nowhere near it), that we were promised, no cover letter, nothing. I hope this will help you. This is n Middlebourne, WV.