Statoil is going to drill under the Ohio River.  It’s paying really good money to the State of West Virginia to do so.  The bonus equals $8,732 per acre, and the royalty is going to be 20%.  There is no indication as to whether that is gross or net, but 20% is still really good for West Virginia.  As usual, I encourage every mineral owner out there to negotiate for a higher bonus and higher royalty.  You’re not getting paid what you should be getting paid.

Check here for the write-up over at Marcellus Drilling News.