Hi All!
Can some one provide me with a fair rate for a FLAT FEE bonus on 0.339 Gross, 0.00009 Net in Wetzel County, West Virginia? I can’t locate any small comparisons on any of the forums. I have a 18% royalty.
Thanks in advance!
A fair bonus might range from $500 to $1,500 for a 0.339-acre property with full interest. But the 0.00009 net is a very small amount which suggests a much smaller payment, possibly in the tens of dollars, pending clarification of the actual ownership.
Comparison Table: Recent Bonus Offers in Wetzel County
| Property Size (Acres) | Bonus Offered | Royalty Rate | Source |
|---|---|---|---|
| 10 | $400 flat ($40/acre) | 16% | Mineral Rights Forum |
| 1.2958 | $3,000 per acre | Not specified | Mineral Rights Forum |
| Not specified (net) | $2,500 per net acre | 15% | Mineral Rights Forum |
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@cffnfc Oh my… well, sometimes the truth isn’t so beautiful, but hey… that brings sunshine to the situation.
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Thank you! Love the table! I recently signed another agreement for $5k per net acres for just under 0.5 acres net with 18% royalties in Wetzel.
Just a heads up to anyone working on an agreement in Wetzel, get everything in writing prior to signing and READ the agreement prior to signing. The Landman that I am working with on the agreement above, agreed to my terms via email but when I received the agreement, some of my terms were missing from the addendum. Unfortunately, it wasn’t by accident.
I obviously refused to sign the agreement. My bonus ask will be increasing significantly. It’s unfortunate that this particular Landman is shadey. So much of my time was used for such a small amount of acerage. One way or another, I’m going to get my money, lol.
The landmen are in it for themselves and as you stated go over the documents with a fine tooth comb. They will tell you others have signed for little money which is not true and will tell you anything to get you to sign
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