Wetzel and Tyler Counties in WV (question about lease)

I own property in wetzel and tyler county in wv. Our original 5 year lease expired last january. They sent a check which extends the lease for another 3 years. We received $1,500 per acres. Back then that seemed good but things have changed alittle.

Nothing has been done to the property other then another company installing a gas line. Firstly will this effect our lease and if so, in a good or bad way.

Is this area good enough that when the lease expires will someone want to do another lease? I have my theories on why things are slow in the area other then the prices but u would appreciate go marcellus input.

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Permalink Reply by Barry D on February 4, 2016 at 2:36pm

jason,

Actually things haven't changed, they have come full circle. In many areas $1500 an acre is the going rate.

Do you have a separate agreement for the pipeline?

Either way, I doubt that the pipeline would be seen as holding your property HBP.

Still need infrastructure so that also has an effect.

Permalink Reply by jason irvine on February 5, 2016 at 1:32pm
The pipeline was a separate lease. Thank you for the response. Infrastructure was my guess as to why such slow progress in this area. Wetzel has the best producing well in the state

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