I’m very new to this whole mineral rights stuff. My husband and I inherited mineral rights to several different pieces of land. Each is at least 100 acres. We live out of state and where mineral rights is not a common thing so with that we are at a loss on what to do. Any info is greatly appreciated. We have one amendment and ratification offer and apparently an offer coming in for a new lease. The companies are EQT and northeast. Some of the questions I have are what are the going rates for nma? What are some clauses that are a must? How are royalties figured and payed out? Is this something I need a lawyer for? Where do I start to find out if there is more property? How do I find the physical address and we’ll numbers?And should taxes have been paid on the mineral rights?
The reason for the amendment and ratifications of an oil and gas lease is that there are shallow wells holding the depths. HBP, Held by production. EQT and Northeast want to build a unit for Marcellus drilling and can’t offer you a new lease because the 100 acres is HBP. They have to amend the original lease holding the production to add and/or modify the pooling along with shut-in language. Operators usually don’t pay a per net acre price (nma) to have you sign an amendment. I would contact an attorney and/or an oil and gas professional to help you with negotiations as well with locating the TMP numbers (Tax Map Parcel numbers) if that is not stated on the letter or amendment.
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