I just inherited 1/2 interest in an oil/gas minerals lease agreement. I have no idea or experience in how to handle this type of asset. I have been approached by someone who wishes to purchase my interest. I have no clue as to it's value. Is there a way to determine if the offer is a fair offer ?
Thank you,
Bill Noon
What state?
Hello. Harrison County, West Virginia. Thank you
Bill,
There is value to be had by you! Do you know what District the parcel(s) are in and what the acreage is?
Hello. Having a heck of a time navigating this system. Apologize, but I got somehow lost and had to reset password. Anyway, if I understand correctly, the "MAP/PARCEL is 9999 0665 5666 0000. I don't see a " district" mentioned on the tax statement. It's half interest in 35 acres.
William,
On the tax statement there should be a District name or two numbers that proceed the 9999.
That stated, without a District name you should be able to receive $43,750.00, but that is only a rough estimate.
I have sent a private friend request, hopefully I can be of greater assistance to you.
Hello. Hey, thank you so much. As to the anything preceding the 9999, there is nothing. Under the section of the " district " on the statement is 07 - coal-outside. Perhaps the 07 indicates what the district is. other than; further over it lists, "Property Type"
Real.......... I have called the company, Enervest and the woman had no idea as to what I meant by "district.
It is odd that your interest is listed as Personal. You may not own the parcel, but have an interest in the lease.
Hi. I don't have any documentation on the lease and have never seen it. I am told it's for mineral rights to oil and gas, am guessing coal as that is listed as well on the Harrison County Tax statement. I have also been told I have no surface rights.I believe that means I don't own the land. I have no idea how it is I own / lease the mineral rights without some ownership of land. But perhaps thats perfectly normal. I was told the 9999 means minerals only. I have seen nothing that states " Personal " and don't know what it indicates.
I just found this website for searching documents. I haven't tried using it yet but have used similar ones for other counties. Harrison County records
Coal Outside is the area of the district named Coal outside of the town of Clarksburg, I believe.
Here is a link to maps
Great catch Nancy!!!
The rule is you are never supposed to sell. However, you know your situation better than anyone.