Harrison County WV. oil and gas leasing

    Hello. I am the owner of 55 net acres of mineral rights in Harrison County WV.  I have been approached by an agent representing HG Energy to lease the Marcellus and Upper Devonian formations. His first offer really offered nothing at all and we are now negotiating. I know I will need a lawyer but am looking for local knowledge as I now live in Vermont. What would be a typical bonus or royalty rate in this area for example? Or what kind of operator is HG? I'm sure it all "depends" but I would greatly appreciate any information. Thank you.

Views: 416

▶ Reply to This

Replies to This Discussion

Permalink Reply by JK on November 6, 2018 at 1:04pm
Hmm, HG recently sold us to Westmorland Gas, LLC.
They are out of Parkersburg, WV. We liked them very much and were surprised by this sale.

HG had bought us from SWE with SWE retaining our Marcellus rights.
We had no vote on this agreement.

We've heard SWE has no money to drill our wells so we wait for who knows when..

Don't even think about doing this deal without an experienced O&G attorney.

IT has gotten so complicated that one decision causes 4 other things to be put into play with you getting the very short end of anything.

Move extremely cautiously..
Permalink Reply by john pickens on November 6, 2018 at 4:05pm

Thanks for the reply. I will surely hire an attorney. Any idea on potential value of such acreage or on drilling activity in the area?

RSS

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

Badges  |  Report an Issue  |  Terms of Service