I have a question about a mineral rights deed I own in Wetzel county located in Proctor and church districts. We were contacted as one of the parcels lease lapsed and was offered 1500 per net acre and 15 percent. The lease is 111 acres and we are a 1/7 owner. They say we have 15.9 acres to lease. Is this a good offer or is the going rate higher? I live in Columbiana OH and the price is 4800 and 20 percent. The total acreage on the deed is 829 in 5 parcels which I can only find two of the leases which are under production. How do I get more information on this deed?
That's low for the area. I would have expected them to start out somewhere in the $2000-$2500 range. The royalty isn't bad, but I'm trying to get people to ask for more here in WV. I'm an attorney, and very regularly consult on leases.
What information do you need on the deed? Or when you say you want more information, do you mean on the lease?
Kyle
Thanks for your response. I would like to know if any of the five parcels on the deed are leased. I only have leases for three of them. Could the other owners on those parcels have leased and we didn't get a copy or get paid? Plus If they are under lease I don't know when it's up or if they are under production. How much should we try to get in royalties? Should we take anything near 2500 per net acre?
Kyle Nuttall said:
That's low for the area. I would have expected them to start out somewhere in the $2000-$2500 range. The royalty isn't bad, but I'm trying to get people to ask for more here in WV. I'm an attorney, and very regularly consult on leases.
What information do you need on the deed? Or when you say you want more information, do you mean on the lease?
The only way to really figure out whether a particular tract is leased is to go do the research at the courthouse.
You mentioned that you have leases on three of the tracts. If the terms of the lease have been breached, the lease is no good. Otherwise, it's good. You'll have to do that analysis for each lease separately. But since you mention that you don't know when the leases might be up, I'm going to venture a guess that they're pretty old leases. If that's the case, they can only be kept alive by actual production from the well (held by production, or HBP), in which case you or someone should be getting payments of some sort, at very least yearly. If there are no payments of any kind being made to you or someone who holds an interest in the minerals, then the lease is most likely no good.
I would say the court house, with research you will find the web page to get your deed info via the web and you won't have to go to the court house. Just type, be specific and it will give you many pages to choose from. You will see the one that will help and many others lol it seems to go on and on.... I started out by google.com and as I say be very specific. http://www.wvcommerce.org is a great web page, www.mineralweb.org this one is all research info you could want, http://www.mineralweb.com/ this is where you can find your information. It does take a lot of research and time.
Hope this helps
Yes I think that is low as well. I read they offer low prices because they can drill many dry wells and not find NR for months at a time... I have 335 acres with 3 old wells there, so I'm not sure if this raises the price for me or not, still reading.
Kyle
Do you have any contacts that I could check on leasing the 15.9 acres too? Or do you set up leases for a fee?
Kyle Nuttall said:
That's low for the area. I would have expected them to start out somewhere in the $2000-$2500 range. The royalty isn't bad, but I'm trying to get people to ask for more here in WV. I'm an attorney, and very regularly consult on leases.
What information do you need on the deed? Or when you say you want more information, do you mean on the lease?
Ms Wyatt, I just read your post regarding your mineral lease. Would you be interested in selling your mineral rights? If you would like to discuss the possibility of selling your minerals please contact me at [email protected] or via phone at 304 642-2139.
Regards,
Donna Thompson
donna thompson said:
Ms Wyatt, I just read your post regarding your mineral lease. Would you be interested in selling your mineral rights? If you would like to discuss the possibility of selling your minerals please contact me at [email protected] or via phone at 304 642-2139.
Regards,
Donna Thompson
Are you an investor or an agent? If an agent, what company or individual do you represent? Thanks, David Cox
donna thompson said:
donna thompson said:Ms Wyatt, I just read your post regarding your mineral lease. Would you be interested in selling your mineral rights? If you would like to discuss the possibility of selling your minerals please contact me at [email protected] or via phone at 304 642-2139.
Regards,
Donna Thompson