How much are mineral rights worth in West Virginia?

How much are mineral rights worth in West Virginia?

Mineral Assessed Value is 60% of the appraised value of the property. WV appraisal values for minerals are based on the start date of drilling and production income.

How do I find out who owns mineral rights in West Virginia?

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.

Do you have to pay taxes on mineral rights in West Virginia?

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.

How deep are water wells in West Virginia?

60.4 feet
The depth of the well is 60.4 feet below land surface. The depth of the hole is 60.4 feet below land surface. This well is completed in the Pennsylvanian aquifers (N300PNSLVN) national aquifer. This well is completed in the Dunkard Group (317DKRD) local aquifer.

How are mineral rights royalties calculated?

To estimate mineral rights value for producing properties, take the average of your last 3 months of royalty income. Once you have a monthly average, plug it into the mineral rights calculator below. You can expect to sell mineral rights for around 4 years to 6 years times the average monthly income you receive.

How deep is a natural gas well?

The average Texas oil well is 900 feet deeper again – but this is quite literally just scratching the surface. Hydraulic fracturing reaches depths ranging from 5,000 feet to 20,000 feet.

How much does it cost to drill a well in WV?

Drilling a residential water well costs $25 to $65 per foot or $3,750 to $15,300 on average for a complete system and installation. Prices include the drilling, a pump, casing, wiring, and more.

How deep is the average water table?

Depth to water ranges from 0 ft below the surface along major rivers and streams to a maximum estimated at more than 1,200 ft below land surface on the southern slopes of Larch Mountain (pl. 1). The depth to water for nearly two-thirds of the study area analyzed was less than 100 ft.

How do you trace mineral rights?

How to search for mineral rights records?

  1. County Records and Tax Assessor’s Office and Documents. Conduct a title deed search at the county records office to find the owner history in the title deed.
  2. Loan Default History and Foreclosure.
  3. Royalty deeds.
  4. Use a title company to conduct a search.
  5. Online records search company.