New to owning mineral rights for Two separate tracts of land next to each other (1 & 2). Just received lease proposal from the company but it only references one of the properties my mother has interest in. According to the oldest deed on record for the properties, heirs to the property will always retain the rights to both tracts, however they are only offering a lease on one of the lots. Wondering if anyone has any incite as to how they can legally do this? Of further note, two of her cousins who also had interest in the same properties in question, also leased with this company. The company signed extensions of leases with those two but did not reach out to us. Our family owns 1.25 acres of interest in both tracts so should we negotiate based upon this and basically ask for double what they are offering? Appreciate any guidance.
Update to this…spoke to representative for the company. Now that we have come forward with connections with the second tract, they have agreed to draw up a second lease. For those who also own mineral rights in Tyler County, WV, does anyone happen to know what the highest lease bonus ever paid by an O&G company is? I have heard going rate offered is roughly $3,000 per acre for a 5 year term but honestly, this sounds pretty low. Lastly, does anyone know of any drilling activity in the Slider Run Road area? I have checked the county website and DEP, but not having much luck finding information. Thanks so much!
Our family in April received 5,500 per acre bonus for 5 years, 18% no deduction, from Antero, Tyler County.
This topic was automatically closed after 90 days. New replies are no longer allowed.