Met with a few people today with Des. I'm not going in details on here, but i stongly encourage anyone that is unsigned to go to his meetings this week. The first is at Union Local Tuesday night. Personally, I don't care who brings the contract to the table or how much this person will make off of any agreement, as long as the lease is there for all of us to maximize our opportunity to capatilize on this gold mine.
Never heard that before, but it makes sense up until the point where the oil and gas company wants to put a well on a piece of property. If no title search was performed and royalties were paid to someone that did not in fact own the oil and gas rights, there would have to be major problems/lawsuits/etc. trying to recoup the royalty money that had already been paid and spent by the landowner. I was under the impression that the oil and gas company always performed a title search.
I'm sorry, I wasn't very clear - signing a lease, by itself, does not mean you own your mineral rights. The O&G companies generally do a very thorough search before any development (drilling) takes place, so if you are collecting royalties or have a well, yes, you probably own your minerals. But a lease alone, especially at a lower price, does not guarantee mineral ownership.
Edited to add - if you have a well or are collecting royalties, it's not super-likely you'll be able to lease anyway, as your property is probably held by production. This depends on a huge number of variables, however, so your mileage may vary.
Does any one know what the KWGD lease amounts ended up being in Belmont Co. ?
Been hearing alot of different #s .
I hear that they are coming to Monroe co. also .
I don't think KWGD did a deal in belmont per se there last deal was in Guernsey county @ $5,000 & $5200 upfront depending on Township & 20% gross, but I think there were some Belmont acres included
Thanks Tom .