Im new, here, and no nothing about W. VA. oil and gas law. I do, however, have some knowledge, of the industry, as Im a mineral owner in the Haynesville Shale, in Texas. The two states, Texas and W. VA, clearly have different Oil/Gas leases.
Ive been asked by a friend, in New Martinsville, West Virginia, who haas been approached by a landman to sign a lease, to better help him understnd the terms of the potential lease.
This particular lease states that the Lessee can pool a unit of no more than 1280 acres.
My question is this: Is this standard practice in W. Va.? In Texas, the standard is 640 acres. So, 1280 acres seems like an unusally large unit. I would probably encourage my friend to negotiate this particular term, of the lease, provided this is not standard practice in the area.
As best I can tell, the energy company has presented my elderly friend, and 32 other elderly neighbors, of this very rural area, with about the worst terms of any lease that Ive seen in the past 30/40 years. So, I would not be suprised if this 1280 acres was just another pathetic term being offered, by the Lessee, that should be better negotiated.
Any info would be greatly appreciated!
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