Anyone ever heard of Westhawk Mineral, LLC? Received a letter in yesterday's mail saying that they'd pay us $3000/acre for our mineral rights. Is this company legit? Information is greatly appreciated.
Richland Township in Guernsey County.
You don't want to sell you mineral rights at that price regardless of who it is
Henry, I'm 'dumb' to this stuff. What would a fair price be?
"... What would a fair price be? ..."
What would a well in your backyard pay you per acre over the life of the well?
What are your chances of actually being in a Production Unit?
When you can answer those questions then you can make an educated decision.
That dollar amount sounds more like for signing a lease.
Remember if you sell them - it's forever.
When we signed our lease with Dave Hill 5+ yrs. ago for the rights to drill, we were paid $124/yr. After 3 yrs. they drilled on our neighbor across the road. Right now, our checks come about every 3-4 months in the amount of around $25. :( So, we're not seeing hardly anything. :(
Are you talking Vertical Wells vs. Horizontal Wells?
Are you talking 12.5% Net vs. 18% Gross?
Royalties from an 18% Gross Horizontal Well can be $100 or more per acre per month.
Yes, Vertical well was drilled across the road from us. We get around 1.5 % of the royalties from the well. Production on the well has been drastically reduced. We signed for our 15 acres and they have included just under 5 acres of our property in the well "area". I wonder if we would be able to lease out the other 10 acres ,Or would Hill still have claim to it?
The letter you recieved I believe is to buy your rights but you would have to own 3/16 of them which I believe is 18.75 percent which if you have already signed not many people recieved that in there deal,and that would be forever!!
I recieved the same letter in Wills twp. It is to BUY not Lease your mineral rights...agree with Ripley's
Yes, we understand it is to buy and not to lease.
We have a little over 14 acres and what is tied up in the neighbor's well is under 5 acres.