Has there been any leasing activity in Monongalia County? If so, with who and what was the signing bonus(per acre) and royalty rate.

 

Thanks, Tim Greene

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Tim, Did you see the article in the Dominion Post this past Sunday?
That family is from PA and got royally screwed by Chesapeake when the mother, who was in a nursing home, signed away the farm for $50 @acre and 12.5% royalty (the lowest legal number). After she died then the family got in tough with Chesapeake and contacted the VP from OKL. They renegotiated the terms and got $8k an acre and 20% royalties, retroactive from 2007. I am saving that article.
It was on page 4B, 11/28/10.
It seems the lower WV counties are really being shown low numbers because the gas co's think they are so dumb, it appears. So being a land owner here in rual Mon county has me on alert already.
Good luck,
Judy

Sorry I did not see the article. Some of the lower counties are at the 500.00 per acre, some are in the 1 to 2 thousand. It just depends on where you are located.

 

It is best if you deal directly with the gas company and not the broker. The broker typically has a ceiling that he or she can offer.

Please call or go to www.landandmineralmanagement.com if you have any questions or need further assistance.

 

Tim Greene

I just got a purchase offer, not a lease, of $1250 an acre.

They were interested in buying leased, or unleased.

It's for 1/4 interest of 28 acres.

I would be careful with purchase offer. Typically the offer is low and needs to be negotiated higher. Also, unless you know the value of what they want to purchase, you cannot make an informed decision.

 

I would suggest you have the property valued every three to five years to be able to make those decisions when the opportunity presents itself.

 

If you have any further questions, please call or go to www.landandmineralmanagement.com, if you need assistance.

 

Tim Greene

I have a good local attorney, he will be shopping this for me.

The first one we sold, he got more than double the highest offer I had gotten.

Are there any updates for Mon county?

I saw where there is some activity in persuing permits.

It does look sluggish to me though.

Does anybody know of drillers plans?

Thanks

EQT will be permitting wells in Mon county outside of Morgantown near Osage involving one of our properties. The have informed us that they will not renew a lease on our other property which is about 67 acres very close by so we are looking for a company to lease that

Henry,

Did you find another company to lease with?

I am curious to see who else is interested in Mon County.

Thanks.

Not yet-I do know that Chevron is making a plan for Mon County. If you find someone looking let me know.

XTO is leasing

who can I contact at XTO?  Thanks

I need same info-Things have really slowed down

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