I inherited an Oil & gas lease for 15 acres a while back in Wetzel Co. West Virginia. Was told there were 100 of us. Got the price up a little but everthing that should not be in it are there. Now I have 2 more. One for 57.25 acres & one for 26 acres. How can I verify how many of us are part of the lease? How do I find the value per acre? Is it worth getting a lawyer?
You can review the records at the Wetzel County Clerk’s Office. Check with the Tax Assessor’s Office to see if the organize the tax data in a manner that lists all owners in the particular lease. The value of the property has to help you to determine whether you require professional assistance.
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Sounds like a small interest. The decision to get a lawyer is really based on how big your interest is. General rule is that if you own under an acre, probably not worth paying a lawyer to negotiate for you and if it is more then makes sense to consider it ESPECIALLY if you can pool a couple other owners together.
If there is a 100 people on this tract, more than likely you have a small interest. Just ask the landman how much do they have you owning in this parcel