6 miles east of I79 East Fairmont.Congrats. Where about in WV?
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6 miles east of I79 East Fairmont.Congrats. Where about in WV?
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I'd like to know about the mineral rights and how that works also. Is it something that can be redeemed (like ground rent in the City)?
6 miles east of I79 East Fairmont.
The work is in finding the true owner, or mostly likely heirs. Gas companies actively buy rights, but usually only for exploration.I'd like to know about the mineral rights and how that works also. Is it something that can be redeemed (like ground rent in the City)?
I suppose (like most people) I wouldn't care about it unless they decided to construct a rig and line 50' from my house. Could be cause for concern on a small(ish) parcel if roads and a pipeline are part of the rights......
I suppose (like most people) I wouldn't care about it unless they decided to construct a rig and line 50' from my house. Could be cause for concern on a small(ish) parcel if roads and a pipeline are part of the rights......
i have 141 acres in Randolph county with all mineral and timber rights intact. They are out there if you look hard enough.
What do you mean mandatory 12.5%?You’re not powerless as the surface owner. You still have to negotiate right of ways, rent, free gas, and/or additional royalties (typically an “overriding royalty” because it is over top of the mandatory 12.5% that goes to all the mineral owners).
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What do you mean mandatory 12.5%?
To the surface owners?
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I did not know this, thanks.No, to the mineral owners. Gas and oil companies typically only lease the drilling rights. They’ll pick a spot, drill, then whatever comes out of the whole the mineral owners gets an automatic 12.5% as a royalty, off the top, pre-expenses. This is state law.
But other parties can negotiate royalties above and beyond that, overriding royalties, because they override state minimum of 12.5%.
Looking to sell?
Ha, a bargain!A cool million and its all yours!
Ha, a bargain!
I'm going to end up a good ways East I think, maybe Hampshire County. Prices go up quite a bit it seems, but,.... easier/faster access.
The values seem to vary widely. I haven't spent a lot of time (yet) researching sales.Given where Pushrod is located, yeah, actually a mil for that much acreage actually is a bit of a bargain.