I signed with Shell last year. Now I got a letter from Westhawk MInerals offering $3,000 an acre for my mineral right. I must admit it is a little bit tempting since I do not know if I am going to be in a unit or if Shell plans on drilling any time soon, and I am looking to retire. I have 52 acres in Londonderry township in Guernsey county. Any thoughts?
sign a top lease. That way when Shell backs out at least u have something.
I'll make it $3500.
I'd hold out on retiring or least think very very hard about it! I know of individuals that couldn't wait to retire and found out being with the wife 24/7 isn't as easy as the work was. Ya normally see these guys at Walmart saying Welcome to Walmart! Selling mineral rights is a one time deal with no turning back. With a lease you might if worded right get a decent bonus and possibly renewal payment or another lease plus royalty
You might consider selling the property outright with mineral rights included which opens the door to speculators also.
I have decided to wait. Westhawk does not have website that I could find and that is not good. And, yes, the price seems low. Thanks for responding.
this is the link to westhawk
LOL. I've wanted to retire since I was 21(I'm a women and staying home with the man won't be any picnic either). But I am going to wait--you are right--selling mineral rights is very permanent.
Did Shell pay you ?
Were you in a group or did you sign the standard Shell lease ?
I was in the Matt Crislip group. Yes, I got paid. Although I know there are people who have not been paid yet.