Hello, my first time posting on this forum.
About a month ago, I was informed that I and my cousins had inherited some mineral rights in Tyler county WV. It is on 3 separate parcels, comprising 28, 74, and 56 acres.
Since then, I’ve been given a packet of forms by a Lands man out of West Virginia. These are offers of 100 dollars per parcel (300 dollars total) plus possible future royalties.
My question is, is this a standard offer. How do I go about finding out how much these claims might be worth. I don’t know anything about the process, but 300 dollars seems like nothing, in order to get access to drilling on 150+ acres. Can anyone point me in the right direction on this, I don’t want to accept an offer without more information. Thank you
Hello all, I had originally posted this on the main forum, but I was directed to the Tyler county WV forum as that’s where the property’s are.
Would anyone happen to know of any attorney’s in the Tyler county WV area that deal with mineral rights?
Also, how do I go about getting a map of the property locations. Any advice is greatly appreciated!
I can help you. I don’t think you need an attorney…quite yet.
Search around on this Tyler County forum. You can find some information that will help. Maybe not explain everything but will give you a good start.
I recommend that you contact Kyle Nuttall, at Nuttall Legal in Buckhannon. Depending on the fractional interest of these parcels that you actually own, and their location, they could be worth upwards of $5000 per acre as a leasing bonus, and upwards of 20% of the value of the gas produced down the road.
Gas prices are currently depressed, but drilling in the area continues to increase. The cost of a good attorney can easily be offset by the lease that they negotiate for you.
Given the outrageous offer of $100/acre, I'm guessing that the offer was tendered by EQT. EQT is infamous for low-balling the landowner, and then illegally withholding deductions from the owner's share of production, despite lease agreements which prohibit them, while their lawyers attempt to have these agreements nullified in the courts. I would not sign a lease with EQT, period.
Again, talk to a lawyer. Kyle Nuttal is knowledgeable in the area, having worked as a landman himself, and familiar with the Tyler Co. area as well. In fact, you can post a short question on his website, and he'll probably post an answer that generally mirrors mine.
Go to www.nuttalllegal.com and have a look.