Replies to This Discussion

Permalink Reply by Brett Harmon on April 30, 2010 at 7:13am

Seems pretty low ball....what was the royalty %...sometimes that makes up for lower up-front cash. I would look around...see what there is out there. Here in Texas...outside of the Metroplex area thats about par. The Metroplex area is seeing in excess of $2,500 per net mineral acre. Some other factors to consider are how many acres do you own, are they going to drill on you and if so how many wells do they anticipate. Have you had seismic done on the property yet? If not there are things to add to the lease as provisions like $25 dollars per acre for seismic minimum. I still say look around, see whats out there. Chesapeake is a reputable group, so if they are in the ballpark I say go for it.

Permalink Reply by Charles Corne on April 30, 2010 at 7:28am

Thanks Brett, i`ll check it out.

Permalink Reply by Nancy Mosley on April 30, 2010 at 2:08pm

Which county?

Permalink Reply by J.R. on April 30, 2010 at 2:20pm

Charles, If they offered you $500 they will pay more. I live in Preston Co. and when I was first approached by Chesapeake they offered $350, I said no, and the negotations started. Finally I signed for $800 and 14%. Could have gotten more, but I'm satisfied, and the addendums we put in the lease were worth a lot.

My advice: Hire an experienced attorney. It's worth every penny that an attorney will charge.

Don't let them rush you either. They'll try.

Permalink Reply by brinlady on May 3, 2010 at 3:50am

Which county and where in your county your property is located is important in assessing how good the offer may be. Also agree about the necessity for a good lawyer. You need one to review the lease anyway, so it's good business to spend a little more and have them do the negotiations. brinlady

Permalink Reply by Charles Corne on May 3, 2010 at 8:10am

Brinlady it`s in Doddridge Co. and I`am talking to two lawyers now. tks Chuck

Permalink Reply by Nancy Mosley on May 3, 2010 at 3:08pm

If you find a lawyer you like who helps you, it would be good if you would give a recommendation.

Permalink Reply by Karen on October 7, 2010 at 2:34pm

I have found a good lawyer in Mannington WV, he passed the secret "honesty test" set by by California attorney, who has experience with mineral, and oil and gas rights. Email me, if you would like his info. He's doing a whole bunch of "unclaimed property" recoveries for my family.

Permalink Reply by Charles Corne on October 8, 2010 at 1:42am

Hi Karen, Thanks for the reply and yes, I can use all the help I can get. pls send to corne@windstream.net

Regards Charles Corne