Can anybody tell me if they have had any success asking for a no production clause to be added to their lease agreements? I am totally new to all this and the company name is Antero who is offering to lease. If anyone could help me with this, I would appreciate it. They are offering me 3,000 per acre and 16% royalty. BUT I am wondering what that would amount to by the time production costs are deducted. Thanks for any info you can give me. Nancylou
We have property already leased by Antero, but the lease was assigned to them by another company and the lease terms were set many years ago. Our property is in the Centerville district of Tyler. We would be interested if you hear anything about Antero's drilling plans. They leased our property jn Sept 2012 but we havn't heard anything.
Charles and Barb Towles
Here is a website that has some data about new permits for wells
http://frack.skytruth.org/west-virginia-frack-alerts/tyler_wv
Go there and sign up (free) to get info about permits, with a map showing the location.
You can go here
http://www.dep.wv.gov/insidedep/Pages/DEPMailingLists.aspx
and keep following to see how to sign up to get an email when a permit has been issued for a horizontal well; you can choose which county or counties to be notified about.
You can go here
http://www.dep.wv.gov/oil-and-gas/Pages/default.aspx
and select Search Oil and Gas Database. There are many things to do here, among others a mapping section, and a place to look up permits by date and company and county.
Even with all that, a lot of times a company is in a hurry to get people leased, then decide who (where) will get drilled first. Sometimes they don't get to drill your property, for one reason or another, and your lease expires. Or "at the last minute" they do something to meet the terms of the lease in being in the active exploration phase of a lease, whether they really plan to drill soon or not. And sometimes you get a surprise check in the mail.
Read this website, there is a lot to be learned here. And keep asking.
It could be a significant part of your royalty check taken out by production costs. There are many sad stories about Chesapeake taking almost all of people's royalty in costs.
You should try to get an attorney to review the lease for you. There are a lot of ways that companies try to do things that benefit themselves and not the lessor (you) so an attorney that handles a lot of oil and gas business in the state will be a big help.
Thank you, Nancy, I followed your advice. Now all I have to do is try and make sense of what I read. Unfortunately, I have to sign and notarize and send back this paperwork to a Mr. Jim Cooper and I have left it so long due to urgent family matters that I am scrambling to get this done by the date he has given my brother and I. Really, it probably isn't going to amount to much anyway as we each own roughly .6 of an acre in a much larger (61 acre area). That said, whatever it amounts to is more than I had yesterday, so there it is. Anyway, thank you for helping me with this - especially at a most difficult time for us. Nancylou
Nancy Mosley said:
Here is a website that has some data about new permits for wells
http://frack.skytruth.org/west-virginia-frack-alerts/tyler_wv
Go there and sign up (free) to get info about permits, with a map showing the location.
You can go here
http://www.dep.wv.gov/insidedep/Pages/DEPMailingLists.aspx
and keep following to see how to sign up to get an email when a permit has been issued for a horizontal well; you can choose which county or counties to be notified about.
You can go here
http://www.dep.wv.gov/oil-and-gas/Pages/default.aspx
and select Search Oil and Gas Database. There are many things to do here, among others a mapping section, and a place to look up permits by date and company and county.
Even with all that, a lot of times a company is in a hurry to get people leased, then decide who (where) will get drilled first. Sometimes they don't get to drill your property, for one reason or another, and your lease expires. Or "at the last minute" they do something to meet the terms of the lease in being in the active exploration phase of a lease, whether they really plan to drill soon or not. And sometimes you get a surprise check in the mail.
Read this website, there is a lot to be learned here. And keep asking.
Hello, If Mr. Jim Cooper is a land agent for Antero, then you owe him nothing. That lease should not be signed until it is satisfactory to you regardless of the date on it. Does not matter if you own .6 or 600, make them get it right. The language they put in those leases helps only them. Just be patient because this is a process and there is no urgency only for them to get that signature. Did you ask for any changes to made in the lease?