Letter received from Landman, no idea what I should do...

Hello all,

I've received a letter from a landman indicating that I have interest in Marion County as I am an heir. I have no idea where the interest is, how much, etc.

I am not in the area, is there a way to find out what this interest is before contacting the landman?

I have no experience with mineral rights, and it appears no one that is alive has any idea where this interest came from.

Any help would be greatly appreciated.

Views: 1545

Replies to This Discussion

Permalink Reply by James Smith on September 9, 2013 at 8:15am

Hi Deb,

My mother-in-law has mineral rights in Marion County, WV.  My wife and I just worked on a new lease for her.  In doing so, I did quite a bit of research on where production is occurring and who the players are in the county.  I became familiar with the resources available online as well as at the courthouse in Marion County.  I would be more than happy to see what I can find to at least get you started.

In the letter you received, did it reference any particular Tax Map Parcel I.D. number or numbers?

If you want to reply privately, my e-mail is cjsbbc@yahoo.com

I hope I can help.

Jim

Permalink Reply by Art Thompson on July 12, 2015 at 3:06pm

James, we have some smallish rights in Marion, and have already leased one.  But, I'm curious.  Do you know about what "going rates" per net acre are for leasing or outright sale of rights in Marion now....aroung Metz/Mannington?

Would appreciate any current information you can share....

Permalink Reply by James Smith on August 4, 2015 at 3:34pm
Art,
Back in late 2013, going rate was around $2,500 per acre bonus with 18% royalty for a lease in Marion County. Don't know if this is still the same now. Recently heard of an offer for the outright purchase of rights that was around $5,000 per acre. This was for an area less active than Mannington area.
Permalink Reply by Art Thompson on July 12, 2015 at 3:04pm

Two ideas....
1) Call the Tax Assessor or Collector in Marion Cty, and ask....
2) check out website: http://marion.softwaresystems.com/search.html?SEARCH=1&spage=1&...

1dozrpboqzgiiPermalink Reply by 1dozrpboqzgii on February 12, 2016 at 1:51am

Hello Deb, 

  My family is all around that area. If I can help, The only companies right now in that area is XTO Energy and EQT. Did you receive this letter from a landman representing one of these companies or is it a mineral buyer? If it is a landman from either XTO or EQT, then yes you need to setup a meeting with them. Have him bring a mineral owner ship report showing how you received your interest. Offers have been 

$1000 an acre at 12.5% from XTO Energy

$1500 an acre at 12.5 to 14% from EQT

Need any other help, please contact me back! 

John

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service