Don't shoot the messenger!  Ohio Land Management rec'd a late afternoon call from one of our neighbors in Mahoning county.  He stated he just signed for $5800 an acre and 20% with Buckeye.

 

All bets are off landowners!  The price of the Utica carbonate shale is now leveling off with the rest of the play.  I just hope many of us have not signed for 3K or 4K.

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No...this lease was with Buckeye Mineral (Bob Rae's new for-profit group).  But...ALOV group members are supposed to be receiving letters very soon...

 

Edward,

There are three different groups for alov. Just was wondering what group is going to recieve letters. I believe it will be group b that covers mahoning and a few other counties(25,000 acres), unless you indeed heard it was group c (trumbull).

That I'm not sure of, Craig...I was just told that ALOV group members are to receive a letter about an agreement by the end of next week...

I feel so bad for the landowners held to 100.00 per acre leases.   This is getting insane.

 

So do I Melissa.   Many of them are very large landowners - they have literally watched 100s of thousands to millions of dollars slip through their fingers.  

 

yes that is a shame ,these landmen new about the play for yearsand came in and leased cheap . The $100 was a high price a alot of this was leased at $5.00 and acre.

  Forest oil worked the utica in canada several years ago and new its potential ,but i don,t feel the companies  have gambled in any way, the obvious production reports like the buell well which was even downplayed had tremendous results and most other have done rather well,

The MArcellus has been going great for well over 3 years and it is only slowing down because the companies can realize more profit from the liquids and the oil .

When the country converts a lot of plants to full gas production that will take off in full force again , since the overall cost of gas fired power plants will be much cheaper than coal .

Hopefully this don.t happen too quickly there are alot of older coal miners who deserve to make it to retirement to get  their pensions .

And by the way does anyone know if many of the oil field crews are Union members.

It seems like if there are going to be a lot of jobs , they are going to have to let the welders and carpenters from the union halls get into the jobs since this is our state and our workers should be on top of the list to be employed .

I do agree your title is somewhat misleading though Ron.... Buckeye Minerals more accurately brokered/negotiated the deal, they didn't "pay".
Doc,  This is true, I do my best to put forth full disclosure , the truth is always easier.  And the statement of paid was by my neighbor who claims he signed,  I will however know the details soon but of course the confidentialty clause kicks in then I will morph into complete silence.

hey Ron keep up the good posts that is the only way we can beat that non disclosure clause the companies are adding in , the last here was $5000 and 20% in Belmont County and it is supposed to  be good here too. Show us the Eagleford Money .

its time for the game's to start , please ante up as much as you can stand . we will gladly hold whiie you get more cash please. (LOL)

Does anyone have contact info for buckeye mineral
Please.

The ALOV website should have a number.  I am sure they can give you Buckeye Minerals number.   There have also been ads in the Farm and Dairy lately. 

 

I was wondering if anybody knew what the going rate was for portage county, specifically McClintocksburg rd. between whipporwill and cable line. I have 30 acres there and Chesapeake has been pounding me for a few months now. Started out back then at 1000 an acre 12%, I have them up to 3000 but can only get them up to 15% on the royalities, Im looking for 17%. Then I read just down the road in mahoning county 5800 an acre and 20%? Yikes! Id hate to sign for that when less than a mile away their paying double. Im new to this forum so any insight would be much appreciated. Ive been dealing with a landman from chesapeake on my own, no land group involved as I think their just after a piece of the pie. I do know what several folks in the neighborhood have signed for and my 3000 offer is way above what others have signed for.Thanks for reading this!

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