If a well is drilled AND PRODUCTIVE! If not productive, bye bye $$
DT said:
Robert, How much acreage do your grandparents own in Doddridge? Just would like to know what kind of money per acre they were offering. Once you sell your mineral property, it is gone forever. The company who offered, is probably going to resell or lease them at a later date. Just do not get in a hurry if your grandparents have a chance to lease. The lease process is a back and forth negotiating process. As Nancy, our resident info guru, said there is a lot of info on here to read and it will benefit you to do so. You need to know who and what you are dealing with when you lease. The bonus money and royalty is good but the language in a lease is what makes a good or bad lease. Leasing will give your family royalty if a well is drilled for years to come.
The best answer to most questions is; get legal advice. However, that is easy to say, but not that easy to do. there are a number of lawyers in WV that have experience in O&G. But, make sure that you get a iron clad statement of what is to be done , charged etc. before you agree to use them to represent you. I am now using Kyle Nuttall and am very satisfied so far. Before Kyle, I had one who was pretty good but he got overloaded and spread too thin to satisfy my demands. Then I contracted with a firm that advertised on the NARO web site. They took me to the cleaners for $5000 before I severed the relationship. My advice is: if it doesn’t feel right, don’t agree to it. If it does feel right, make sure you have it in writing and signed by a person who holds a position of responsibility in the company. Do not take any verbal agreement to be enforceable. If they won’t agree to sign then neither should you. There are honest people involved in this business, but most of us have no way of identifying them until too late.
Richard G. Robinson said:
The best answer to most questions is; get legal advice. However, that is easy to say, but not that easy to do. there are a number of lawyers in WV that have experience in O&G. But, make sure that you get a iron clad statement of what is to be done , charged etc. before you agree to use them to represent you. I am now using Kyle Nuttall and am very satisfied so far. Before Kyle, I had one who was pretty good but he got overloaded and spread too thin to satisfy my demands. Then I contracted with a firm that advertised on the NARO web site. They took me to the cleaners for $5000 before I severed the relationship. My advice is: if it doesn't feel right, don't agree to it. If it does feel right, make sure you have it in writing and signed by a person who holds a position of responsibility in the company. Do not take any verbal agreement to be enforceable. If they won't agree to sign then neither should you. There are honest people involved in this business, but most of us have no way of identifying them until too late.