Replies to This Discussion

Permalink Reply by Rebecca Loftis on March 12, 2011 at 2:44pm

ask $2500.minimum per acre

Permalink Reply by Rebecca Loftis on March 12, 2011 at 2:45pm

ask $2500. minimum per acre.

Permalink Reply by JK on March 12, 2011 at 3:11pm

Daniel,

This 1/8th = 12.5% !!!

This is the state MINIMUM!!!

This is how it happens if you don't know to figure the actual precentage!

Signing bonuses vary so much and you do have room for negotiating.

Once you sign that's it for a long time.  I hope others on this forum add to this posting!

It is in your BEST interest to talk to some other folks plus an attorney!

 

Permalink Reply by brinlady on March 26, 2011 at 4:24am

Make sure your lease DOES NOT language along these lines:

 

12.5% royalty and both parties agree that $1.30 mcf will be deducted for processing, marketing, etc., etc.

 

I got this "wonderful" offer from CNX earlier this year.  What it means is that you have agreed in writing to royalties below the 12.5% specified by W.Va. law.

 

Brinlady

Permalink Reply by melinda golden on May 26, 2011 at 1:24pm

I presently have a lease from XTO & in parargraph #2 it states that they have the right to hold any royalties for up to 12 months after the first 25.00 is made, I read on here on another forum that CHK does this & Daniel said it is a class act lawsuit. If it states it the lease prior to signing it, does any one know what my rights are. I asked an attorney & got the response of XTO will quit pursuing the lease because of other situations attached to our lease !   THANK YOU