I’m just learning about all of this since Antero sent me an offer to lease or sell about 3 weeks ago. In fact I let the lease go unsigned by the “due date” as I’m not educated enough just yet. Background: WV Tyler County, 13 acres. Was offered 300 signing bonus and 15% royalties.
I’ve learned a lot on this site before posting this but I still have questions. Should I be trying to find the landman for other companies and seeing what they’ll offer (and how do I get that info?) or just negotiate with Antero for a better deal?
Also, it seems there was a lot of talk and interest in WV back in 2018. I see in old posts the offers were much higher. Should I be going off those numbers or not as this is new drilling?
Hi and welcome to the forum. You need to find out how many of the 13 mineral acres are yours or what is called net acres. You can contact the landman from Antero who should know this figure. Based on that I would counter the offer with $4,000 per net acre and 18% no cost royalty. They always lowball their first offer. Nat gas is on the rise right now. A good time to negotiate. It is normal to be one of many individuals party to a portion of the total 13 mineral acres. Once you find out your net acres multiply that by the bonus amount offered per net acre. The royalty percentage is more important so go for a higher number there which once they drill will pay for a much longer period. Others may have better input as my interests are in Marshall Co. Check out the Tyler Co website for lease examples at IDX Search Tyler County. Good luck.