belmont county lease bonus prices - GoMarcellusShale.com2024-03-28T10:57:53Zhttps://gomarcellusshale.com/forum/topics/belmont-county-lease-bonus-prices?commentId=2274639%3AComment%3A765507&feed=yes&xn_auth=noI think it is a low offer. H…tag:gomarcellusshale.com,2017-11-06:2274639:Comment:7661532017-11-06T20:25:48.510ZPro Geohttps://gomarcellusshale.com/profile/DavidPCercone
<p>I think it is a low offer. How low, I do not know. That would take some research on my part as mineral rights value change through time like stocks on the stock market.</p>
<p>Ohio is a forced pooling state so you may want to consider this point as they are not going to "drill around you" like they can in Pennsylvania. I recommend that you Google "Forced Pooling" and read up on the implications to your family. If you decide to lease make sure you get "No Deductions" in the lease. Also…</p>
<p>I think it is a low offer. How low, I do not know. That would take some research on my part as mineral rights value change through time like stocks on the stock market.</p>
<p>Ohio is a forced pooling state so you may want to consider this point as they are not going to "drill around you" like they can in Pennsylvania. I recommend that you Google "Forced Pooling" and read up on the implications to your family. If you decide to lease make sure you get "No Deductions" in the lease. Also if you lease, you should get a oil and gas professional or an attorney to assist you with the lease terms. </p>
<p>You can also ask for them to BUY your mineral rights and that way you would get significantly more up front but you would not get royalties. I actually just did this in PA Marcellus. You may want to call Potomac Minerals LLC and ask them to put a BUY PRICE on your oil and gas rights. They may make you an offer on the spot. Don't take it. Call them back in a day or two and ask for about 20% more than they offered. Be firm, but very nice to them, as you do not want the deal to escape you by being rude. I'm guessing that you could get well over $15K per acre in a mineral rights SALE (not a lease).</p>
<p>Rice is being bought by EQT in Pittsburgh so I think that your instinct is spot on with the agent's circumstances. You may want to call the EQT Land Department and ask for an Owner Relations agent OR a Land Agent for an offer. Make sure that you have the Ohio Permit Number and the Pad Name when you call.</p>
<p>I have assisted several of my friends in this process as I worked for a PA-based operator in the past. Drop me a reply on this thread if you want more assistance.</p> thanks...i think everyone jus…tag:gomarcellusshale.com,2017-11-06:2274639:Comment:7664452017-11-06T17:29:45.040Zsamantha paglialungahttps://gomarcellusshale.com/profile/samanthapaglialunga
<p>thanks...i think everyone just had me scared off about the royalty issue saying that it needs to be gross royalty...not sure it matters etiher with such a small amount....he is willing to talk gross royalty now even though he said it was impossible... but with a much lower bonus price so its hard to make that decision...because if it produces nothing we won't get any royalties anyway and we would have taken a lesser sign on bonus...just have to weigh the risk vs the benefit i guess.</p>
<p>thanks...i think everyone just had me scared off about the royalty issue saying that it needs to be gross royalty...not sure it matters etiher with such a small amount....he is willing to talk gross royalty now even though he said it was impossible... but with a much lower bonus price so its hard to make that decision...because if it produces nothing we won't get any royalties anyway and we would have taken a lesser sign on bonus...just have to weigh the risk vs the benefit i guess.</p> Samantha,
With all due respec…tag:gomarcellusshale.com,2017-11-06:2274639:Comment:7662502017-11-06T00:49:09.840ZBarry Dhttps://gomarcellusshale.com/profile/BarryDyngel
<p>Samantha,</p>
<p>With all due respect, having only 2 acres shouldn't warrant much of your time.</p>
<p>Just decide on a figure that makes it worth you signing the lease.</p>
<p>Would $25,000 do it ? If so then tell them.</p>
<p>Sure, $25,000.00 may sound crazy, then pick your own figure.</p>
<p>Samantha,</p>
<p>With all due respect, having only 2 acres shouldn't warrant much of your time.</p>
<p>Just decide on a figure that makes it worth you signing the lease.</p>
<p>Would $25,000 do it ? If so then tell them.</p>
<p>Sure, $25,000.00 may sound crazy, then pick your own figure.</p> So our rice energy contact go…tag:gomarcellusshale.com,2017-11-03:2274639:Comment:7662342017-11-03T14:39:14.097Zsamantha paglialungahttps://gomarcellusshale.com/profile/samanthapaglialunga
<p>So our rice energy contact got back with us and upped us to 5k bonus with 20 percent market enhancement, non surface, could add a horizontal pugh clause....this is what he came back with after we asked him for 20% gross royalty.....</p>
<p>from what i get he only added a few hundred bucks to the bonus price but didnt change anything else regarding the royalties....my husband made him mad after this so he probably won't be back lol</p>
<p>So our rice energy contact got back with us and upped us to 5k bonus with 20 percent market enhancement, non surface, could add a horizontal pugh clause....this is what he came back with after we asked him for 20% gross royalty.....</p>
<p>from what i get he only added a few hundred bucks to the bonus price but didnt change anything else regarding the royalties....my husband made him mad after this so he probably won't be back lol</p> Certainly, not trying to disc…tag:gomarcellusshale.com,2017-10-28:2274639:Comment:7655072017-10-28T06:03:11.873ZG.H.https://gomarcellusshale.com/profile/GH930
<p>Certainly, not trying to discount any one else's experience. That is awesome that you were able to get more for your signing bonus than you were offered to sell. If you are able to do that then it makes absolutely no sense to even consider selling. Some of it is having good timing, but you definitely have to be educated and do the best you can in negotiations, and this site is all about being educated.</p>
<p>Certainly, not trying to discount any one else's experience. That is awesome that you were able to get more for your signing bonus than you were offered to sell. If you are able to do that then it makes absolutely no sense to even consider selling. Some of it is having good timing, but you definitely have to be educated and do the best you can in negotiations, and this site is all about being educated.</p> Just an older person who has…tag:gomarcellusshale.com,2017-10-27:2274639:Comment:7657282017-10-27T21:31:51.388Zjetthttps://gomarcellusshale.com/profile/jett215
<p>Just an older person who has seen others get taken advantage of. I'm glad my parents were cautious about deals they made. </p>
<p>Our signing bonus just happened to end up being more than we were offered to sell our gas/oil.</p>
<p>Of course, each person has their own situation. 11,000/acre is definitely more than what we were offered.</p>
<p>Just an older person who has seen others get taken advantage of. I'm glad my parents were cautious about deals they made. </p>
<p>Our signing bonus just happened to end up being more than we were offered to sell our gas/oil.</p>
<p>Of course, each person has their own situation. 11,000/acre is definitely more than what we were offered.</p> To be fair, 20% is a great ro…tag:gomarcellusshale.com,2017-10-27:2274639:Comment:7656892017-10-27T19:36:22.226ZG.H.https://gomarcellusshale.com/profile/GH930
<p>To be fair, 20% is a great royalty. But you need to get an idea of how bad the deductions from that 20% can be, and try to minimize or eliminate them if possible. I can't speak to the signing bonus because I am not that familiar with your area.</p>
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<p>There's no "forcing you to sign." It is your property, you can sign or not sign. Ohio does have force pooling though, so you should look into that. Not sure that it's used all that often.</p>
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<p>As far as selling your…</p>
<p>To be fair, 20% is a great royalty. But you need to get an idea of how bad the deductions from that 20% can be, and try to minimize or eliminate them if possible. I can't speak to the signing bonus because I am not that familiar with your area.</p>
<p></p>
<p>There's no "forcing you to sign." It is your property, you can sign or not sign. Ohio does have force pooling though, so you should look into that. Not sure that it's used all that often.</p>
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<p>As far as selling your rights, I personally believe that option is right for some people and not right for others. By selling, you can avoid the headache of trying to decipher deductions in the future, and you can get a lump sum now. You could also get an attorney to include something in the deed that states that the buyer has absolutely no rights to the surface of your property for development of their minerals. Obviously, you will probably get more money in the long run if you keep your minerals, because the idea for the buyers is that they will make money on the purchase. However, you'll probably have to wait years to see the amount they are offering you. Who knows how long it will be before they even drill the well once you are leased? You could also sell a portion of the minerals and retain a portion, but for a two acre property, the buyers most likely will not be interested in that scenario, nor would you be. I know some people are very passionate about not selling their minerals, so I'm sure I will get torn apart for even suggesting it's an option to consider haha. But that's just my two cents.</p> Yeah, we had alot of very agr…tag:gomarcellusshale.com,2017-10-27:2274639:Comment:7656882017-10-27T18:46:56.833Zjetthttps://gomarcellusshale.com/profile/jett215
<p>Yeah, we had alot of very agressive, ultra rude landmen, too. We just told them flat out no. I think they're trying to bully you into signing quick, then you're stuck with this no-good legal commitment and these landmen move on to whoever is next on the list.</p>
<p>They told us the same thing about no way in heck could we change the lease language. Turns out that wasn't right and we made the changes we needed. The leases they offered were lousy in our opinion. But you are the owner of these…</p>
<p>Yeah, we had alot of very agressive, ultra rude landmen, too. We just told them flat out no. I think they're trying to bully you into signing quick, then you're stuck with this no-good legal commitment and these landmen move on to whoever is next on the list.</p>
<p>They told us the same thing about no way in heck could we change the lease language. Turns out that wasn't right and we made the changes we needed. The leases they offered were lousy in our opinion. But you are the owner of these valuable minerals. We did hire a lawyer in the end and we got a much better lease.</p>
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<p>Be sure to include a "no-net back" clause that says they can't go back and deduct costs, etc. from sale price. Don't know if just excluding the Market Enhancement clause and putting in "Gross royalty" is enought to cover you from all the deductions. They seem to find clever ways around the clauses somehow so include every bit of language you can to protect yourself.</p>
<p>Besides trying to maximize the value of your oil/gas, it's good to put in other clauses that protect you from any damage they cause to your land and any neighbors around you. Cause once you sign can't go back and fix it</p>
<p><br/> One thing we thought of concerning selling is that: now you only own the surface above the minerals someone else owns forever and they have the right to do anything and whatever they want with it no matter how it affects the top owner.</p> Yeah we are giving him the si…tag:gomarcellusshale.com,2017-10-27:2274639:Comment:7654902017-10-27T15:58:32.977Zsamantha paglialungahttps://gomarcellusshale.com/profile/samanthapaglialunga
<p>Yeah we are giving him the silent treatment at the moment...waiting for him to come around which i am sure he eventually will seeing as how persistant he has been over the last month. We just mentioned are thoughts on what we wanted and he instantly shut it down...rudely. Like he could have atleast said ill see what i can do and then, later on, said sorry its not possible.</p>
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<p>There is another company wanting to buy our rights and royalties outright for one lump sum...its up to…</p>
<p>Yeah we are giving him the silent treatment at the moment...waiting for him to come around which i am sure he eventually will seeing as how persistant he has been over the last month. We just mentioned are thoughts on what we wanted and he instantly shut it down...rudely. Like he could have atleast said ill see what i can do and then, later on, said sorry its not possible.</p>
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<p>There is another company wanting to buy our rights and royalties outright for one lump sum...its up to 22,000 at this point, We haven't given it much thought though because we didn't really want to go that route..too many unknowns.</p> I never understand why landme…tag:gomarcellusshale.com,2017-10-27:2274639:Comment:7656832017-10-27T15:40:22.100ZG.H.https://gomarcellusshale.com/profile/GH930
<p>I never understand why landmen get like that unless the land owner is jerking them around, which it definitely sounds like you are not. </p>
<p>Lots of times they will say that they can never do something for you, but if they want it badly enough they will change it for you eventually. The guy you are talking to may not have the authority to offer you what you want, but he can certainly talk to someone who does. Just depends on how bad they want your property. You have to try to evaluate…</p>
<p>I never understand why landmen get like that unless the land owner is jerking them around, which it definitely sounds like you are not. </p>
<p>Lots of times they will say that they can never do something for you, but if they want it badly enough they will change it for you eventually. The guy you are talking to may not have the authority to offer you what you want, but he can certainly talk to someone who does. Just depends on how bad they want your property. You have to try to evaluate what further bargaining power you have vs when you should accept the offer and sign. It can be a tough call.</p>
<p>Personally, I'd keep the lines of communication open and reiterate to him what you want. If he's really being that rude you could just straight up tell him that it's making you not want to work with him and he needs to chill out.</p>