Just received an offer from antero to lease 12.5 net acres in tyler county wv meade district. $3000 signing bonus and 18% Any thoughts? I own 59ac there, leased 35 to them last year. $1800 and 15% I still thinking this offer might be low....

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In today's commodity climate I wouldn't say that the offer is low.  But if I was not in need of the money right now I'd wait and see what prices looked like 18-24 months down the road when oil and gas prices rebounded.  

Dexter is right, prices are low now and Operators know that they can make lower offers and folks will sign because acreage aquisition has really dropped off. The acrege bonus is what I'm referring to as the 18% royalty is pretty good, especially if you can get them to exclude any production costs or enhancement clauses from your lease. Tyler Co is gonna be hot here in the next few years and only having 12.5 net acres limits your negotiation power but never take a first offer and always make sure to have a good lawyer you trust to review the lease before signing anything! I'm not sure where Meade district is but they will likely drill into Marcellus and Utica shales. If you counter offer with a price for both strata say 3k for Marcellus and 2500 for Utica, may be a way to get them up in overall price. Just a thought and good luck with your negotiation.
I also have acreage in tyler. I think it's going to get better and better as soon as the get more infrastructure in place. That seems to be our biggest problem. I agree with people about not accepting the first offer and it does appear to be low. Is this offer for all shale plays. I would also consider that antero seems to be a decent company with their results. They also have alot of leased land in those counties. You have time because of all the take away problems, bad roads, bad bridges, little water, very remote and no large roads. The drilling seems to be most active near the big highways, I 70, I 77, I 79 and route 50. Our biggest road is route 20 and 18. Both are small 2 lane hilly snakey roads.

Thanks for all the input. To be quite honest I've seriously considered just selling my mineral rights. I wish I had some rough guess what royalty payments would ever be if it ever does get drilled. After reading all the posts online it makes me skeptical if anyone ever gets decent royalty checks........

My guess is most people that get good royalty checks are out enjoying their self and are not on here talking about it.

Mark. It really depends on your situation. Me personally I hope my famity will benefit for years. I hope the prices will rise along with royalties. We also have 3 shale layers under us. It could be good money for along time. I also hope the demand goes up along with the price. But....The waiting does suck

Is this a net or gross lease?

I don't have all the details yet it's been phone conversations and a really short email. But my first lease was met with the mineral enhancement clause. Which I've learned I probably don't want. Correct???

A market enhancement clause essentially acts as a net lease.  Texas case law (which could be a good source of case law for other courts analyzing market enhancement clauses) essentially says that anything the operator does to the gas enhances its value and accordingly, they can deduct those costs.  Like net leases, I have seen market enhancement clauses of various shapes, colors and sizes.

Thanks for the info! It's quite a learning experience. I'm open to any / all suggestions.

Happy to help.  The biggest issue is that you want to have a good idea from the lease the cash flows that you are expected to receive from the royalty payments.  I have seen Antero leases which allow them to deduct the cost of their pipeline depreciation to the mineral owner.

take a look at this article:

http://stateimpact.npr.org/pennsylvania/2013/09/20/royalty-group-ur...

also I put an attachment up on the following page from NARO -PA

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