Peter, So they need your portion and the offer to buy is something most mineral rights owners do not do. Once you sell that’s the end. Leasing is what most people do. Question: Can you tell us if there is a current lease on your interest and a well there and are there royalty payments being paid to you or your family? The answers to these will help get some ideas what can be done in your situation. Take it slow and do not sign or sell or lease anything until you get all the facts. This site has some knowledgeable people with legal and factual info. Ask questions and you will get answers.
I was contacted by Antero Resources this week. Apparently my father (deceased)owned a portion (1/16) of a working interest / oil and gas lease which he purchased (acquired by assignment) in 1967. They state that they have acquired the majority of the working interest in this lease They wish to purchase our part which is 7.4 net mineral acres. They state that they (Antero) are planning to drill a horizontal well to test the Marcellus formation, which plans include all or a part of the tract. The estimated cost to drill and complete the well is 12,000,000.00 They have offered 1200. per acre of our working interest in the lease. I have no idea what to do. I need some advice. Thank you in advance, Peter Lang
JNK: I was also asked to be a co-plaintiff, and I do own interest in that plat, What makes it more interesting is that I was in Doddridge in Sept of this year and Antero had drilled at least one well on that plat and they were set up and ready to go on another. I did sign a lease with them last year. The well that I am talking about is the Piggott Well in Central District, Doddridge County WV.
Peter Lang, late reply but I would recommend you market this interest rather than deal with a single buyer.
I have already got my sign on bonus check about two months ago.I with 12 other grandchildren share mineral rights that my grandmother left us.She did this over 40 years ago.Now they have sprung oil so to speak.Does anybody who has signed on in past six months in Doddridge County know much about this(Antero)place?
Hi I am new to this, I just received my paperwork from the lawyer for Antero
and I must say I am disappointed at how low their offer is. $500.00 sign, and 14% royalty. There is no indemnity clause, no depth severance clause, no cost free royalty, no warranty of title, no mineral enhancement clause. I will not be signing this, and hope Mr. Kyle Nuttall scan advise.
NLC
Imagine that Nancy. Did a land agent get in contact with you first? The sad thing is a lot of people have signed leases with that kind of an offer. A lease like you received is pretty much their “sign here dummy” lease. Pays to do your homework for sure.
Hey Kyle, Merry Christmas
Nancy Mosely suggested I take a look at what’s going on here. Merry Christmas to you, too, DT!
Nancy, what county are you in? If it’s Ritchie, Tyler, Doddridge, or Harrison, that’s a ridiculously low offer. DT is right about it being a “sign here dummy” lease. They’ll give you some of the things you mentioned, just for asking, hardly any negotiation required.
Nancy, Thanks so much for the info you sent. However, I was not able to access the topographical site you suggested. Any more tips you can pass along will be much appreciated. Marylee
Mary Lee Shinn Scalf, If you know where your parcels are there are maps you can use to see where the wells are. This site
is good if you can put in your county and some recent dates. You will then see a lot of blue dots, and zoom in. When you recognize a landmark you can explore around and see what is there.
http://www.dep.wv.gov/oil-and-gas/Pages/default.aspx
The above should get you to the main office of oil and gas website (or google “west virginia office of oil and gas”
Once there, on the left find Database and Map Information
Then look for
Oil and Gas Map Search
See if that helps
Nancy
I hope you receive this. I thought I had joined the Doddridge County Group. I asked some questions and never saw my inquiries on the site. I’ll try again. I signed two leases in 2012 and a small one in 2013. They are all in Central District. I heard they were setting a pad up in an area which the horizontal lines might reach my first two leases. As I understand it the area would include the location of the Piggott Church. Does anyone know if this is so? Thanks much. M.L.S.
In previous post, tracking should have been fracking. Dumb Spell Check.
Richard, I have nor received any royalty checks yet even though they began drilling on 11/25/13. I was told it would be 6 months or longer as more title work is always required after they start drilling. That is one of the reasons I joined this forum, so that I might see what others are experiencing.
Happy New Year! I hope. LOL A little puzzled by the lack of activity on this site. Antero has been drilling and tracking like crazy in Doddridge. My question of the day is; Has anyone received any royalty checks from Anterio? I know a number of people who have wells drilled by Antero but none who will say that they have received any royalty yet. I’m just curious if anyone here has? And if so, how long after the well was fracked before they got a DO or a check.
Allow at least 7-8 months after the well is completed for that check. I have a well that was completed in Sept of 2013, and have been told by other owners that the div. order should be issued sometime in May. (I HOPE).
Sorry…not sure what when the well is “completed” means?
Jacqueline, Good question. To me, For these wells “completed” means when gas is turned into the pipeline. Hope Arnold will let us know if that is his meaning. Most of the old leases, mine dates back to 1960, states that the royalty for the gas will be within 3 months from the time the operator sells it. So I am assuming that the first check will be a catchup, including royalty for the period from the time gas started flowing up to three months prior to the date the check is cut. We have been getting royalty checks from other operators since 1962 and that is the way it has always worked. However, this is my first dealing with Antero. So It is conjecture on my part. I’m hoping someone who has been working with Antero will chime in here. I will say that so far, I have been treated pretty well by them.
Louis, I’m still wondering why you are wondering.
LOUIS, No, not yet. Why do you ask?