Hoping someone on here can guide me. My 91 year old mother inherited a mineral interest in an 85.003 acre tract located in Mannington District, Marion County, West Virginia. According to the documents sent to her from EQT she owns the mineral interest in 3.099039 net oil and gas royalty acres. They want to purchase all her rights, titles and interests including “Hydrocarbon Interest”. I’m not sure they are offering a fair price and I’m not sure of the tax implications for her. She is on a fixed income. EQT has previous given her 2 checks so they could explore drilling a well on the property but I’m not sure if a well was actually done. Can anyone tell me what a fair price would be with the information I am able to provide? I just want to protect my mother.
Two maps, one shows your parcel and the other is zoomed out to show nearby wells. So they paid for a lease and then an extension. They still have until 12/2027 to drill which looking at the map and shooting from the hip would say it gets held. Can’t tell the royalty, but would say it’s worth a few thousand/acre to someone. It would be taxed at the capital gains federal rate.
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