Wishgard LLC out of PA has held several meetings and group signings in my area. They are offering 600 an acre with a 16% royalty. Several people have signed, but my close neighbors and I are leery of the contract. Has anyone had experience with this company? There has been no activity that I’m aware of in this area as far as drilling.
I would be wise to get several of you together to get a good oil and gas attorney to review the lease as the drafts are not generally in the mineral owner’s favor. Operators frequently use a contract land company to do their leasing.
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@Buck22 Not much activity in Wood, nor does there appear to be any activity in the next few years. I’m curious what they are hoping to gain from this lease. 16% WITHOUT deductions is not bad. $600/acre for a non producing area is not bad either. Never hurts to ask for more though! @M_Barnes is very right, they never offer you the best on the first go. This is a business and they are out to maximize profits. Talk to others in your area and shop this rate around, also talk to the landman/company and see what they think is going on there because WV DEP maps don’t show anything promising.
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