CX-Energy is holding a FREE oil & gas seminar in WV on 10/25 and 10/27. Undo's Elm Grove Restaurant 2153 National Road, Wheeling, WV 26033 at 7 p.m. Call 724-933-1311 for more details.
Topics include: the process of selling oil & gas rights, what are my oil & gas rights worth, when will my acreage get drilled, how buyers value oil & gas rights, 1031 exchange, and more.
CX-Energy does not buy oil & gas rights, they market oil & gas rights globally to get the most money possible.
The average amount is probably around $2500/acre for the upfront sign on bonus offered by the energy companies in that area, BUT that doesn't mean that's what you'll get. I know someone who recently just got $6500 per acre in Wetzel county and 19.75% for royalties on the gross amount (without expenses being taken out) after negotiating. They were offering $4000 per acre and they countered at $7500 and got $6500. It does depend on where your mineral rights are located also and if they really want to start pumping in the near future. If they do or are already in the process of putting in wells, they will pay more.
Can you share where in what district in Wetzel county this is in? I have acreage that I would like to lease the mineral rights