Ageed, but in the mean time......a clause like this could easily stipulate the arbitrator or courtmay determine if the operator was manipulating royalty that the punitive damages plus back pay be made.
That would be good for groups to demand and when it starts gaining popularity it could be standard for good companies to start listing as standard addendum language. Like all good clauses there was starting point inception.
Mine says if I have to take them to court and win they are responsible for attorney fews and 125% of the award
I have never seen that clause before, but tip my hat to you for being able to negotiate it.
Congrats, Well Done
Outstanding Pete, maybe more royalty owners will take heed in how to stop royalty manipulation.
Wv mineral owner do you have an idea on what mineral rights would be worth in Brooke county wv already into second term leased ?
I am not as familiar with Brooke County as I am other areas, but have a general idea. There are factors in Brooke County that are not as significant in the areas I have minerals, primarily who the lease is with. My understanding is that EQT, StatOil and what was once Chesapeake are the larger producers. Equally, if there is a current shallow well producing on the tract and what royalty % is involved.
That said, I imagine $4,000.00 / Net Mineral Acre is a ballpark figure. If you wish to share more details in a private email on this site, I will try to give you a better estimate as to a fair market value.