Westhawk Mineral, LLC

Anyone ever heard of Westhawk Mineral, LLC?  Received a letter in yesterday's mail saying that they'd pay us $3000/acre for our mineral rights.  Is this company legit?  Information is greatly appreciated.

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Permalink Reply by James McDowell on July 24, 2012 at 5:15am
What area?
Permalink Reply by G.C. Resident on July 24, 2012 at 5:16am

Richland Township in Guernsey County.

Permalink Reply by Henry Edwards on July 24, 2012 at 5:22am

You don't want to sell you mineral rights at that price regardless of who it is

Permalink Reply by G.C. Resident on July 24, 2012 at 5:38am

Henry, I'm 'dumb' to this stuff.  What would a fair price be? 

Permalink Reply by jett on July 24, 2012 at 8:04am

That dollar amount sounds more like for signing a lease.

Remember if you sell them - it's forever.

Permalink Reply by G.C. Resident on July 24, 2012 at 8:10am

When we signed our lease with Dave Hill 5+ yrs. ago for the rights to drill, we were paid $124/yr.  After 3 yrs. they drilled on our neighbor across the road.  Right now, our checks come about every 3-4 months in the amount of around $25.  :(  So, we're not seeing hardly anything.  :(

Permalink Reply by G.C. Resident on July 24, 2012 at 8:29am

Yes, Vertical well was drilled across the road from us. We get  around 1.5 % of the royalties from the well. Production on the well has been drastically reduced. We signed for our 15 acres and they have included just under 5 acres of our property in the well "area".                I wonder if we would be able to lease out the other 10 acres ,Or would Hill still have claim to it?

Permalink Reply by Ripley's Believe it or Not on July 24, 2012 at 7:52pm

The letter you recieved I believe is to buy your rights but you would have to own 3/16 of them which I believe is 18.75 percent which if you have already signed not many people recieved that in there deal,and that would be forever!!

 

Permalink Reply by Debby Teach Hill on July 25, 2012 at 3:57am

I recieved the same letter in Wills twp. It is to BUY not Lease your mineral rights...agree with Ripley's

Permalink Reply by G.C. Resident on July 25, 2012 at 5:28am

Yes, we understand it is to buy and not to lease.

We have a little over 14 acres and what is tied up in the neighbor's well is under 5 acres.

Permalink Reply by Madd man on July 26, 2012 at 1:40am
Permalink Reply by Bryan R Cope on August 28, 2012 at 5:18am

So has anyone decided to forego future royalty payments, and take the money?  And if so, why?

I am with a group of heirs in Knox Twp in Columbiana County, and for some reason, they want to sell out.

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