Renew expired lease?

Started April 16, 2017 at 08:39 am by @Thomas Gary Moore in Wetzel County, WV

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Thomas Gary Moore
04/16/17 08:39:46AM

My lease expires in a couple weeks.........was wondering if anyone has recently renewed theirs and what is the going rate in Wetzel county? ( per acre.......percentage off the well head ?? )

Jeff Kerr
04/16/17 11:41:53AM @jeff-kerr:

renewed a marcellus lease in PA JUST NORTH OF Wetzel Co. 4.5-k a acre @ 17.5 gross 

Thomas Gary Moore
04/19/17 09:27:03AM @tgmcr:

Thanks Jeff............when you say 'gross', i'm assuming the 17.5 % is off the well head.  When we signed 7 years ago, that's what we insisted on. Who knows what costs they might throw in otherwise.

Kyle Nuttall
04/19/17 05:45:24PM @kyle-nuttall:

Your mileage may vary, but we've been getting between $4K and $5K per acre on the signing bonus and about 18% gross proceeds on the royalty lately.  It kind of depends on the company you're dealing with and whether there's any competition in the area.

Thomas Gary Moore
04/19/17 07:56:27PM @tgmcr:

Thanks Kyle.............united we stand!

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