According to Marcellus Drilling News, people in Jefferson County, OH are getting offers as high as $6000/acre and 20% for leases with Ascent and Gulfport. These numbers are impressive and reminiscent of offers in the sweet spot during the boom. Hopefully this is a good indicator of what's to come in the near future. Thoughts? Anyone who can confirm these numbers?
In some cases he charges by the hour, in other cases he charges $100/ acre. His hourly rate is only $50, so it doesn't cost much to talk to him.
If you hire an oil and gas attorney who has no computer in 2017, I wish you luck, you're going to need it. Sorry, but I think this small-town charm is going to bite you in the ass when he doesn't find documents that are pertinent to your property because he doesn't use a computer. That, and it will probably take him longer to do things = more $$. Not saying you can't be knowledgeable without a computer, but a good attorney would probably want to look up documents pertaining to your property as well as oil and gas activity around your property. You need a computer to do that. Maybe he says "he" doesn't use a computer but has someone sitting by his side all day that looks everything up for him.
Sorry but Larry has a SECRETARY with a computer and it works just fine. Larry Piergallini just did my pipeline ROW in Belmont county. I had another guy do my gas lease with XTO in 2013 but he changed firms. When my XTO lease renews (if Gulfport doesn't come in and buy them all up) - I will go back to Larry in a heartbeat.
He knows what is going on like no one else I have met. As far as I am concerned, these other guys are all posers.
Please tell me Larry wouldn't throw me under the bus...just hired him to check the status of the lease on file because Chesapeak hasn't paid in a year and there 5 years are up..Got a letter today after all this time saying they assigned our lease to Ascent..What does this mean if they have never paid us anything..
I doubt it - he might tell you that you should have come to him before this happened, but he will give you the straight story. He is a straight shooter as far as I have seen. I didn't know Larry growing up - I knew the two youngest brothers. Todd is the baby - he is a caterer and did my wedding in 1994. They are a good family. Work hard, have done very well for themselves.but not in a "they've ripped people off" type of way. (Does that make sense?) They've always been good people in my opinion; I think Larry caught up with the O & G law when the activity started and they were being approached about leases, etc. They own a lot of land. Larry protects the family land and he's good at what he's learned.
I've heard of lawyers who charge more than that, and ones who charge less - It depends on what the lawyer is doing for you ...
My lawyer handled forfeiture for my old lease and non-producing shallow wells as well as all negotiations for the new lease (in process), so for me 10% is reasonable.
If litigation is involved, expect 20 to 25%
I know of a number of lawyers who review a lease and handle some negotiation with the company for $100/ acre.
Thank you, very helpful.
The "non-producing" shallow well..... i assume it was holding your acreage lease as HBP.
Was the well actually producing anything at all?
It last produced minimal amounts in 2014, the lease was from 1991. When I talked to the operator they tried to string me along; it took a lawyer who had fought them before to get them to admit the well wasn't producing.
Shortcreek Township on the Belmont Jefferson and Harrison border here. Signed in april with Utica landowners group. 5000.00 an acre 20% gross for the Utica only, lease is with ascent. Landowners group had another signing 2 weeks ago in Colerain ohio for the same as I signed. Pugh clauses etc etc. Ed Susteric is the attorney in charge of it. His fee is zero, ascent pays him 30 odd dollars for each parcel he gets leased.
I thought it was a bad idea to work with someone who works for the gas company..