Leasing in Ritchie County

 I'm part of a family of descendants who have the mineral rights to a small amount of land in Ritchie.  I was surprised to know we still have this.What have others experienced with Antero?  If I understand this correctly, the 'signing bonus' is for the primary/5 yr. lease. What is 'net acre'  What is the current royalty percentage people have?  Anyone know the extent of the oil/gas, etc in this area?

I'm sure our attorney will help me understand the lease but it's best to hear from those who have experience.  

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Permalink Reply by Alyce on September 15, 2014 at 5:18am

Thanks Nancy.  I've been reading as much information as I can.  Seems the other descendants have signed the lease so I just hope to protect my mother's interest as they exist now.

Permalink Reply by Nancy Mosley on September 15, 2014 at 5:42am

Hi Alyce, I use Kyle Nuttall, a member of this forum.

http://www.nuttalllegal.com/

He has a lot of experience with Antero.

I have seen him recommend an indemnification clause (the "hold harmless") and a No Warranty of Title clause, as both being very important and (as I understand it) easy to get the company to agree to.

There are many other things with varying degrees of importance. It is well worth the time and money to have an attorney with a lot of oil and gas experience in the area to review a lease, or even a lease modification.

Permalink Reply by Alyce on September 15, 2014 at 7:44am

Thanks so much.  Will let you know how it goes. 

Permalink Reply by bruce barton on September 16, 2014 at 3:03am

For what it is worth. My property is in Grant district near the south fork of the river. I had a phone call last week from a company from Pennsylvania offering to purchase mineral rights. Of course, it was a "fishing" call, but they had found my number so they had done some homework. I expect them to call back this week with some sort of an offer. I will post when I know more.

Permalink Reply by Nancy Mosley on September 16, 2014 at 4:31am
I have received a number of letters in the mail with offers. I expect Ritchie is getting a lot of attention now in areas besides the Clay and Union areas. Yes please update thanks!
Permalink Reply by D L T on September 16, 2014 at 1:37pm

Alyce,  make sure you read all you can and check the oil/gas attorney sites using Google.  There are a lot of things on those sights that you can ask for in your lease.  Be patient and listen to Nancy.

Permalink Reply by Alyce on September 16, 2014 at 2:28pm

Thanks

Permalink Reply by Nancy Mosley on September 16, 2014 at 2:54pm

Thanks D L T! We all have a lot to contribute.

Alyce, that website I gave the link for has a lot of advice. D L T's advice is also good. And this forum. The more you know the better off you are.

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