James willIams
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Current Westmoreland county bonus $ and royalty percentage?

Started this discussion. Last reply by James willIams Jul 31. 7 Replies

Hello, I’m not very knowledgeable about mineral leases, and, have never really felt the need to educate myself on the matter until now. I was approached by a Landman last week and was informed that…Continue

 

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James willIams replied to James willIams's discussion 'Current Westmoreland county bonus $ and royalty percentage?'
"Thank you very much for the advice. We do have an attorney friend who’s looking the agreement over, and, who is also somewhat familiar with the leasing process. The Landman is pressuring us as we wait to hear back from our attorney friend. I…"
Jul 31
JamesG replied to James willIams's discussion 'Current Westmoreland county bonus $ and royalty percentage?'
"The cost of legal fees would likely consume a good portion of the the royalty and bonus payment on 1.4 acres . 1.4 acres can easily be drilled around.  Many examples are documented on well permits on the PA DEP web site.  There is no set…"
Jul 30
A discussion started by James willIams was featured

Current Westmoreland county bonus $ and royalty percentage?

Hello, I’m not very knowledgeable about mineral leases, and, have never really felt the need to educate myself on the matter until now. I was approached by a Landman last week and was informed that our 1.4 acres falls within a proposed drill site in Fayette county (our property is in westmoreland). He offered us, what we feel, is a lowball bonus offer and just above the minimum 12 1/2% royalties minus our share of the post production cost. Can someone give me any sound advice on what a fair…See More
Jul 29
James willIams replied to James willIams's discussion 'Current Westmoreland county bonus $ and royalty percentage?'
"We do have an attorney looking over the agreement and, we fully realize that there is a lot more at stake than the numbers. In our situation, I’m most concerned with any language that grants them full access to our property, as, there is an…"
Jul 24
Dott replied to James willIams's discussion 'Current Westmoreland county bonus $ and royalty percentage?'
"James,  It is also a good idea to get a Lawyer involved because there are so many many other terms of a lease that you don't even think about that you can get screwed on even if you just own the O&G rights and not the land.  Even…"
Jul 23
James willIams replied to James willIams's discussion 'Current Westmoreland county bonus $ and royalty percentage?'
"Thank you for the advice."
Jul 23
James willIams replied to James willIams's discussion 'Current Westmoreland county bonus $ and royalty percentage?'
"They offered $1000/acre bonus and 14%...minus post production costs. From looking at different forums, and consulting with others who have signed leases, $1000 seems low to us but, I’m not seeing much info on recent leases. I’m also…"
Jul 23
JK replied to James willIams's discussion 'Current Westmoreland county bonus $ and royalty percentage?'
"Of course you can negotiate your terms no matter the size you have. 12.5% minus production costs leave you with a very low percentage. It's always good to have an O&G attorney advise you. I would.."
Jul 23
James willIams posted a discussion

Current Westmoreland county bonus $ and royalty percentage?

Hello, I’m not very knowledgeable about mineral leases, and, have never really felt the need to educate myself on the matter until now. I was approached by a Landman last week and was informed that our 1.4 acres falls within a proposed drill site in Fayette county (our property is in westmoreland). He offered us, what we feel, is a lowball bonus offer and just above the minimum 12 1/2% royalties minus our share of the post production cost. Can someone give me any sound advice on what a fair…See More
Jul 23
James willIams is now a member of GoMarcellusShale.com
Jul 20

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What is your role?
Landowner
Which state(s) are you following?
Pennsylvania
What shale plays do you follow?
Marcellus

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