My family just got an offer to lease from Salt Fork. Our land is in Belmont County, Union Twp. They are offering $3500/acre bonus & 18% royalties. They gave us a week to accept their offer.
Thanks for sharing. I own land nearby, and received the same offer from Salt Fork. IMHO....sounds like a lowball to me. With the Shell Cracker under construction, PTT Global looking to move forward and continuing expansion of propane exports, NGL prices should solidify. This may be the first salvo of a new wet gas leasing feeding frenzy.
Yea, stand your ground. It is YOUR gas & oil, yours to sell./lease. don't shortchange yourself.
They will just flip your lease to Ascent or Gulfport.
You are better off dealing with the actual company.
No need to deal with a middle man.
How long of a term is the lease for? 5 years?
yes. five years with an option to extend another five years.
BTW, we rejected the Salt Fork offer.
Please let us know if you receive any higher offers. Thanks.
deutchen (that sounds Amish!),
OK Have you agreed to their proposal?
Just German. No. There are a number of people in the family & so far no agreement what to do but Salt Fork set a deadline of Friday for us to reply so this one may pass. They said there had to be 100% agreement for them to want it. I don't understand why they only gave us a few days to agree to it. I wonder if they're afraid we'll find something better if we wait too long. I have heard that there is another company that's starting to lease around here paying higher prices. A friend of mine was supposed to find out more & let me know.
I hate to be given ultimatums. The aluminum siding salesman mentality. Sign now or you will never get this deal again!!