This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.
West Virginia Drilling Requirements
Category:
State:
Multi-State
Control #:
US-OG-790
Format:
Word;
Rich Text
Instant download
Description
How to fill out Drilling Requirements?
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FAQ
Residents of West Virginia who want to have a well drilled, or who wish to modify or abandon an existing well, must apply and obtain a permit from their Local Health Department prior to drilling, modifying, or abandoning the well.
Mineral interests in WV are taxed the same as your home. You will pay 60% of the appraised value on the minerals at the levy rate for your county. The value of these minerals in based on WV Code procedures and is the same for all counties in WV. Minerals are taxed at a minimum value until production begins.
Copies of permit applications may be reviewed at the WV Department of Environmental Protection headquarters, located at 601 57th St., SE, Charleston, WV., 25304 (304-926-0450).
The value of mineral rights per acre differs from state to state. Typically, the price ranges from $100 to $5,000 per acre in several states. In Texas, the average price per acre for non-producing mineral rights is usually between $0 and $250 per acre, as a general guideline.
In many families, there's debate over the owners of mineral rights or surface rights. You can use the local authority website to find the general information in the state and county records.
In many families, there's debate over the owners of mineral rights or surface rights. You can use the local authority website to find the general information in the state and county records.
How does West Virginia rank in the nation for oil and gas production? West Virginia currently ranks #9 in the nation based on barrels of oil equivalent (BOE) production. How many wells were drilled in West Virginia so far this year? West Virginia has had 114,642 wells drilled this year.
Whether you have an offer on the table or not, you may have good reasons to sell your mineral rights: To pursue other opportunities. If you have a nonproducing property, you might have to wait years for anything to happen ? and nothing may ever happen, even after multiple leases.
