Posted by Dan in Houston on March 15, 2008 at 19:00:01 from (195.229.236.212):
In Reply to: Help! Mineral Rights posted by Pajamafied John on March 14, 2008 at 14:02:13:
Check out the discussion on gas drilling that was posted here on 2/8/08. Also check out the following resource: http://www.wvsoro.org/oil_and_gas_guide/index.html
I also own mineral rights and gas royalty on the old family farm in WV. If you own the mineral rights, it can be a good deal. If someone only owns the surface rights, expect them to fight the deal.
Since WV taxes mineral rights, you need to see how the ownership is recorded at the courthouse and who has been paying the taxes. Hiring a lawyer is always good advice, but depending on how much land your wife owns, you can spend more on the lawyer than you might ever get in royalties. Most people who don't understand the oil and gas business assume everyone in it is a crook. Not necessaryily so, but educating yourself is always a good idea. Anyone in the family or friends own any gas royalties back in WV? If so, ask them their experiences. Don't get your hopes up, there is always a chance that the well will be dry and it will all come to naught.
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