Best price - GoMarcellusShale.com2024-03-29T06:25:37Zhttps://gomarcellusshale.com/forum/topics/best-price?groupUrl=ohio&commentId=2274639%3AComment%3A148231&x=1&feed=yes&xn_auth=noThere are 5-year oil and gas…tag:gomarcellusshale.com,2011-08-27:2274639:Comment:1482312011-08-27T18:08:18.571ZFinnbearhttps://gomarcellusshale.com/profile/Finnbear
There are 5-year oil and gas leases and there are paid-up oil and gas leases. A 5-year lease pays a dollar amount per acre per year in 5 annual installments. This type can be any number of years, 5 being most common, but I have also seen 3 and 10 year terms.A paid-up oil and gas lease pays the whole signing bonus up front in one lump sum. Many energy companies have gone the way of the paid-up oil and gas lease in the Ohio Marcellus/Utica Shale play.
There are 5-year oil and gas leases and there are paid-up oil and gas leases. A 5-year lease pays a dollar amount per acre per year in 5 annual installments. This type can be any number of years, 5 being most common, but I have also seen 3 and 10 year terms.A paid-up oil and gas lease pays the whole signing bonus up front in one lump sum. Many energy companies have gone the way of the paid-up oil and gas lease in the Ohio Marcellus/Utica Shale play. Not a typo, just an idiot rep…tag:gomarcellusshale.com,2011-08-27:2274639:Comment:1482302011-08-27T18:01:30.831ZFinnbearhttps://gomarcellusshale.com/profile/Finnbear
Not a typo, just an idiot reporter. Bob Downing of the Akron Beacon Journal (Reekin' Urinal) has taken mangling facts to new heights. He has been mis-reporting facts for years and it is frustrating to read his articles if you know anything at all about the subject matter. I sent him a nice note about this article documenting the corrections that needed to be made and even directing him to some experts and he won't even bother to respond. My brother deals with him regularly in his day job and…
Not a typo, just an idiot reporter. Bob Downing of the Akron Beacon Journal (Reekin' Urinal) has taken mangling facts to new heights. He has been mis-reporting facts for years and it is frustrating to read his articles if you know anything at all about the subject matter. I sent him a nice note about this article documenting the corrections that needed to be made and even directing him to some experts and he won't even bother to respond. My brother deals with him regularly in his day job and Bob never fails to disappoint and screw up the facts in a story. That's a one time up front pa…tag:gomarcellusshale.com,2011-08-27:2274639:Comment:1480202011-08-27T14:09:46.255ZRed Skeltonhttps://gomarcellusshale.com/profile/redskelton
That's a one time up front payment called a "signing bonus". Not paid annually.
That's a one time up front payment called a "signing bonus". Not paid annually. Typotag:gomarcellusshale.com,2011-08-27:2274639:Comment:1480192011-08-27T13:56:04.586Zscott petersonhttps://gomarcellusshale.com/profile/scottpeterson
Typo
Typo I came across this article wh…tag:gomarcellusshale.com,2011-08-27:2274639:Comment:1482152011-08-27T13:47:20.614ZDON Bhttps://gomarcellusshale.com/profile/donbaker
<p>I came across this article while browsing utica shale information. <a href="http://www.ohio.com/news/local/ohio-landowners-joining-up-to-get-a-cut-of-billions-in-new-oil-and-gas-action-1.230851">http://www.ohio.com/news/local/ohio-landowners-joining-up-to-get-a-cut-of-billions-in-new-oil-and-gas-action-1.230851</a> </p>
<p>Paragraph 16 states :</p>
<p>Some lease bonuses in Ohio have topped $3,600 an acre. The company annually pays that amount for up to five years. Some of the first…</p>
<p>I came across this article while browsing utica shale information. <a href="http://www.ohio.com/news/local/ohio-landowners-joining-up-to-get-a-cut-of-billions-in-new-oil-and-gas-action-1.230851">http://www.ohio.com/news/local/ohio-landowners-joining-up-to-get-a-cut-of-billions-in-new-oil-and-gas-action-1.230851</a> </p>
<p>Paragraph 16 states :</p>
<p>Some lease bonuses in Ohio have topped $3,600 an acre. The company annually pays that amount for up to five years. Some of the first landowners were paid under $100 an acre in bonuses.</p>
<p> </p>
<p>Does this mean some companies are paying the signing bonus annually? I understood the bonus was a one time payment for the term of the lease. Maybe it's just a typo.</p> Finnbear, you are 100% correc…tag:gomarcellusshale.com,2011-08-25:2274639:Comment:1464452011-08-25T02:08:41.261ZRed Skeltonhttps://gomarcellusshale.com/profile/redskelton
Finnbear, you are 100% correct. As a landowner,if you are not totally sure of your mineral rights and any leases which may bear on your property,do yourself a favor and do some detective work on your own. You can spend some time at your county recorders office and get a lot of the answers you need. The clerks that work there can lead you in the right direction and can be very helpful. Tell them what you're looking for and they'll know what to do,but don't expect them to do it all. If you find…
Finnbear, you are 100% correct. As a landowner,if you are not totally sure of your mineral rights and any leases which may bear on your property,do yourself a favor and do some detective work on your own. You can spend some time at your county recorders office and get a lot of the answers you need. The clerks that work there can lead you in the right direction and can be very helpful. Tell them what you're looking for and they'll know what to do,but don't expect them to do it all. If you find there's a problem it can take a minimum, in a best case scenario of 2-3 mths to clear it. Double that if their is an old lease involved. Make sure to hire an attorney to cover your butt. Believe me, I'm going thru the whole deal right now and the "dormant mineral law" is by far not the total answer it appears to be. The gas and oil laws in Ohio are definitely NOT landowner friendly and need some serious updating. By not being proactive and fi…tag:gomarcellusshale.com,2011-08-24:2274639:Comment:1464302011-08-24T19:51:53.115ZFinnbearhttps://gomarcellusshale.com/profile/Finnbear
By not being proactive and finding out exactly what you own/don't own, you could be walking away from a HUGE payday. Yes, the energy company is going to do the title work to cover their behinds but that could be too late for a landowner with questionable mineral rights ownership. Southern Ohio is full of properties with questionable mineral rights ownership. Once an energy company tracks down a mineral rights holder who is NOT the surface owner, there is NO chance the surface owner will EVER…
By not being proactive and finding out exactly what you own/don't own, you could be walking away from a HUGE payday. Yes, the energy company is going to do the title work to cover their behinds but that could be too late for a landowner with questionable mineral rights ownership. Southern Ohio is full of properties with questionable mineral rights ownership. Once an energy company tracks down a mineral rights holder who is NOT the surface owner, there is NO chance the surface owner will EVER get those rights back. The energy company 's title people are very good at tracking down the heirs of people who reserved away mineral rights long, long ago. You can't go into a lease signing not knowing exactly what you own/don't own with regard to mineral rights but people do it every day. If there is any question about mineral rights ownership, the energy company will be forced to escrow the lease bonus and it will sit there until the issue is resolved. If they don't intend to drill soon, they may not resolve the issue for a few years, and the money will sit in escrow until then. Meanwhile, the land is tied up in a lease, and the mineral rights holder and/or landowner will be stuck waiting for the issue to be cleared up with no payment until it is, and they will not be able to take advantage of a possibly better offer that may come later. They are going to do it regar…tag:gomarcellusshale.com,2011-08-24:2274639:Comment:1463192011-08-24T19:28:14.931Zscott petersonhttps://gomarcellusshale.com/profile/scottpeterson
They are going to do it regardless though is my point.
They are going to do it regardless though is my point. The drilling co. will track d…tag:gomarcellusshale.com,2011-08-24:2274639:Comment:1464252011-08-24T19:22:30.648ZFinnbearhttps://gomarcellusshale.com/profile/Finnbear
The drilling co. will track down the mineral rights holder who may not be the landowner. If the landowner does not own the mineral rights and they were severed away in the distant past and are "dormant", the landowner can file an "Affidavit of Abandonment" to have the mineral rights declared abandoned and vested back with the landowner. This could result in a payday for the landowner that is in excess of what they paid for the land if they can get the mineral rights back and obtain a lease. If…
The drilling co. will track down the mineral rights holder who may not be the landowner. If the landowner does not own the mineral rights and they were severed away in the distant past and are "dormant", the landowner can file an "Affidavit of Abandonment" to have the mineral rights declared abandoned and vested back with the landowner. This could result in a payday for the landowner that is in excess of what they paid for the land if they can get the mineral rights back and obtain a lease. If you let the drilling company do the title work, they will approach the mineral rights holder and offer them the lease. Been there, done that.<br/> The drilling co. is going to…tag:gomarcellusshale.com,2011-08-24:2274639:Comment:1460272011-08-24T17:16:14.056Zscott petersonhttps://gomarcellusshale.com/profile/scottpeterson
The drilling co. is going to run one regardless of wether you have one done or not so why not just let them pay for it.
The drilling co. is going to run one regardless of wether you have one done or not so why not just let them pay for it.