West Virginia Message Board

Is anyone receiving lease offers?  If so, would you mind sharing the detail.

Linn Willers, CMM wrote:Leasing is slowly picking up speed and the lease rates are improving.  Yesterday I received and offer at $1,000 per net acre, 1/8 royalty and 5 years.  A 3/16 royalty can be reached and the term may drop to 3 years. 

I just received a 5 year lease offer on a 70 acre parcel for $1000/acre at 14%.  Parcel would be allocated to a drill unit, presently of unknown size, located northeast of Salt Well, south of Shinnston.  Anyone know of current royalty and acreage bonus rates? Thanks in advance.   

Linn Willers, CMM wrote:

Chris:

It's good to see your still around.  I haven't had any success over $1,000 but I have received a 3/16 and if they want five go for a primary of 3 and an option for an additional 2 at a second $1,000 per net acre.  Who is making the offer?

Linn,

It has been a long time.  Too busy dividing my time between being a lessee and lessor; metals, oil & gas, and geothermal.  Very pleased to hear from you.

The offer came from PetroEdge.  Yours?  I spoke with my cousin last night, in the WV-Ohio border area, who said that he has not seen acreage bonuses above $1000 either.  I am impressed with your 3/16.  I'll float the 3 +2 for five with a second acreage bonus.  All the best.