I leased my oil and gas back in the early 2000’s. It is a 12.5% royalties. The wording in my lease says EQT can take post production cost. Is this true because the minimum in WV is 12.5%? I have another company trying to buy my mineral rights. They say EQT will take most of my 12.5%. The marcellus pad is on my property and they are drilling 8 legs now.
Hi Andykim317,
Unfortunately, companies can take deductions so that the royalty owner receives less than 12.5% royalties on a net basis. It doesn’t sound like you have received any royalties yet, is that correct?
Let me play devil’s advocate. If EQT is going to take most of your 12.5%, then why is this company interested in buying it?
I’m not saying that you won’t be frustrated with the amount of deductions, I am just saying that it sounds like a scare tactic to get you to sell.
I am happy to help if you have any other questions.
~Rachel
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Hello. I also own rights in Wetzel County. Can you please tell me who the other company is that is offering to buy your EQT lease?
Anux bought 50% of our royalties back in January, now they said they want to sell to EQT. They said they want to buy me out and sell to EQT. I have decided to keep my royalties, something just didn’t sound right.
Thank you Andykim317 for the info. You are right, something sounds off.
I think if EQT is interested in buying your mineral rights, or just the royalty rights, you should call EQT yourself and see what they’re willing to offer. I’m willing to go out on a limb and say it’s going to be a bigger number than what Aunix offered.
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