AboutLinn A. Willers Expertise By occupation I'm a professional mineral manager who began my career managing Northern tier minerals (ND, MT and CDN with a sprinkling of OK & TX). I latter managed Rocky Mountain and Mid Continent minerals and currently manage a large set of Gulf Coast minerals along with the afore mentioned.
Experience Over the past 22 years I have always respresented issues from the mineral/royalty owner prospective. Organizations: National Association of Royalty Owners (NARO), American Association of Petroleum Landmen, Denver Association of Petroleum Landmen, Rocky Mountain Mineral Law Foundation, Energy and Mineral Law Foundation, National Association of Division order Analysts (NADOA), National Association of Lease Title Analysts (NALTA) and the Southwest Kansas Royalty Owners Association. Over the last ten years I have given various mineral management conference presentations, in Albuquerque, Dallas, Fort Worth, Oklahoma City and Tulsa and on a number of occasions I have presented or co-presented the Certified Mineral Management Review Course. I have a Business degree, I'm a Certified Mineral Manager and an RLP with the American Association of Petroleum Landmen. I'm a three term Past President of National Association of Royalty Owners (NARO) and the Immediate Past President.
Expert: Linn A. Willers Date: 7/14/2008 Subject: Lease Modification
Question MY family owns mineral rights to a number of acres in Wetzel county, WV. In 2005 all 3 holding family membrs signed seperate lease agreements at $5 acre and 1/8 royalty.
GAs was drilled, found and now they want to start the flow. The gas company has came back with a lease modification because of some lease agreemnts that was later found that had been signed back in 1962 and they need us to sign a lease modification, $5 dollar an acre, 1/8, same as before. Lease values are now in the range of 750 acre, signing bouses, and 15% royalty.
Are we in a legal position to renegotiate our lease and royalty, the other 2 family members have already signed lease modification and we have not yet.
Answer Without reviewing the leases I can't give an exact answer but it would seem that the old leases must have expired if their offering another bonus. If that be the case you should be open to negotiation at the higher bonus and royalty. It doesn't make any difference what the other two may have done.
