My family ( The Wilson's ) own some mineral rights in Marion County WV. Does anyone have any information about any possible drilling?
I have conversed with representatives of OTX (Exxon-Mobil) recently and they allege that a drill site pad is being devised for the Mannington, West Virginia area (near Joetown, I believe). I have been unable to confirm this.
In speaking with Michael Criato, a landsman, who performs lease work for OTX (Exxon-Mobil) it is believed that a drill site is forthcoming in the Mannington/Joetown area.
Same here. Mineral rights in Marion county. The paw paw district.
Another part of the Wilson family offered a lease by Trans Energy. Property in Mannington District. My research shows Trans Energy drilling and developing 7 wells in 4 areas near Mannington in the last year. Anyone here familiar with this company and or this area around Mannington. Their initial lease offer of $500/acre bonus and 15% royalty seem low to me. Thanks, Steve Wilson
Their initial lease offer is always low, of course. I would want to work things up to $1,500 or more, and 18% or more. My goal is for WV royalties to be around 20%, and work bonuses up to over $2,000 everywhere the Marcellus shale is being developed.
Often, the best negotiating tactic is to just tell them no, and wait for them to come back with another offer, whether it's that minute or months later.
I know the name TransEnergy. I haven't had dealings with them directly yet, so I can't speak to their methods. However, make sure that you get everything in writing. Nothing is real unless it's written.
Kyle Nuttall said:
Their initial lease offer is always low, of course. I would want to work things up to $1,500 or more, and 18% or more. My goal is for WV royalties to be around 20%, and work bonuses up to over $2,000 everywhere the Marcellus shale is being developed.
Often, the best negotiating tactic is to just tell them no, and wait for them to come back with another offer, whether it's that minute or months later.
I know the name TransEnergy. I haven't had dealings with them directly yet, so I can't speak to their methods. However, make sure that you get everything in writing. Nothing is real unless it's written.
Thanks Kyle, I have read many of your post's, including the ongoing devaluation of Marcellus shale acre/bonus/royalty values. Trans Energy has two new wells, Beaty 1H and 2H, and Jones1H, 2H on either side of my mineral rights. ( WVDEP gas wells/permits/Marion county/Mannington/District) Their production update, 5/30 2013, is very promising.
Thanks for reading.
So they've got you bracketed, do they? That's good for you. That means they're definitely interested in developing your property.
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