Just recently received a Lease Agreement. I don't plan on signing anything until I learn more about the gas drilling business. I also plan to speak to a lawyer. I'm not sure how up to speed WV lawyers are. Are things just now starting to get really fired up in WV for the Marcellus Shale gas? I wonder if it would be better to check with a lawyer out of PA or NY. They may have more experience in the matter. I hope to hear from people that own property or mineral rights in Lewis County that are being contacted for lease agreements to see what your thoughts are.
Brian, last year we signed paid up mineral lease agreements with Chesapeake Energy. They were for $500 per acre, 1/8 royalty for a period of 5 years. That was the original offer. We couldn't get Chesapeake to budge from that, although we were able to get the leases changed some which benefited us slightly. All of the parcels, which totaled about 23 net acres, are in the Collins Settlement District of Lewis County. I'd be interested in learning if anyone else has dealt, or is dealing, with Chesapeake in Lewis County, and how they made out, or is making out. I'd also like to know if anyone is aware of any drilling activity in that area.
What makes this site so great? Well, I think it's the fact that, quite frankly, we all have a lot at stake in this thing they call shale. But beyond that, this site is made up of individuals who have worked hard for that little yard we call home. Or, that farm on which blood, sweat and tears have fallen.[ Read More ]