I have been contacted by a landman to lease some property I did not know I had. I live in another state and know little about what they are leasing for(bonus and percentage). Could anyone share what they have received? Thank you.
Hi Carol, I am not of the opinion that selling is the best thing. However, if you do lease it is best if you have a local (WV) oil and gas lawyer handle the details of negotiating the lease. To do it yourself requires a lot of time, headache, and research! The landman will negotiate, but the lease you are presented with ALWAYS benefits the company and not you. You must have changes made to the lease to protect your interests. You can always get more bonus and a higher royalty but it takes work on your part. The landmen like to play games, especially the one saying there is a deadline or you lose everything. Please take time to read over this site as much as you can and take notes! Sorry to not be more helpful!
Thank you for your response. I am not interested in selling. I have done leases in other states but do not know about WV. If you know a 'good' lawyer in Monongalia County, could you email me or friend me the name. Also, should a mineral interest include coal rights? Again, thank you.