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Property Management Services Back |
Lease
Management, Negotiation, Monitoring, and Enforcement
WEIR provides lease management and assistance during the negotiation of coal
leases and other natural resource contracts to ensure terms are fair and at
market rates. WEIR is capable of managing mineral assets and can provide services
relating to lease enforcement, i.e., payment of royalties and minimum annual
rentals, real estate taxes, insurance requirements, and sale of properties.
Surface and Underground Mining Operation Inspections
WEIR will meet with lessees' engineers and inspect underground and/or
surface operations active on the landowners' property. This inspection
serves to verify conditions and ensure the lessee is mining efficiently and
optimizing the landowners' reserves. A comprehensive report of the inspection,
including inspection maps will be submitted to the landowner. Normally, inspections
are conducted at least quarterly during the development phase of mining, except
when a potential lost coal situation warrants an additional inspection to
verify adverse mining conditions.
Depletion Analysis
The lessees' management will be contacted to update mining progress.
Monthly royalty statements are checked for accuracy and tabulated on a production
and income summary. Semi-annual mine maps furnished to WEIR are reconciled
to royalty statements by digitizing mined areas and using coal thickness information
from the maps and inspection visits, to calculate tonnage mined during the
period. If calculations differ from the royalty statements, WEIR will investigate
the problem and require an adjustment be made by the lessee.
Property Appraisals
WEIR has qualified individuals experienced in mineral appraisals for the acquisition
of property, sales negotiations, and in providing expert witness testimony
for condemnation litigation.
Natural Resource Management
Many land companies have properties and/or coal reserves which are unleased.
WEIR will evaluate the client's resources and prepare a reserve study
for the purpose of marketing to a potential lessee. Along with coal resources,
WEIR will manage the other natural resources of the landowner. Timber and
oil and gas are a valuable asset to the landowner and proper management can
generate substantial income.
Areas of Expertise: