I'm relatively new to this website, but have heard about all the oil/gas in Eastern Ohio. I didn't think much of it (from my personal standpoint) affecting Muskingum County, but see there is a Coshocton County group with activity and leases being signed all around it. We have roughly 80 acres in Frazeysburg, OH in Muskingum County and am wondering if anybody around us knows anything more than I do...
Another Group is forming that includes Muskingum County. Link is below.
I will tell you this i had contact with V.E.T. early this year, they want a percentage of your Bonus Money (Advance Lease Payment) and a percentage of your ROYALTY when a well is finally drilled, FOREVER, that could equal an outrageous sum for information and opportunities you can do for yourself with a little homework, much of which can be found here on this site and the state and county websites.
Pay yourself first, take a little time and do the work, keep your money in your pocket. Under no circumstance would i give anyone a percentage of either my Advance Lease Payment ( Bonus Money) or my Royalty money.
If a group wishes to charge a fee for the legal work and a pittance for the staff, no problem, If they want a reasonable per acre amount for the same work, no problem. PERCENTAGE= PROBLEM=SeeYA, Wouldn't Wanna Be YA!
Of course that is only my opinion, but i am the kind of guy that does my own carpentry work, wrenching on equipment, plumbing work, etc. I will do the work and pay myself. Sometimes the results are not without mistakes, but hey, i did my best, i put the time and effort in it.
MY advise, stay up a few nights a week on a computer, hunt and peck like i do if you must, google key words, read up, make a few phone calls, go to meetings just dont comitt. Then have an attorney read and advise before you sign.
Billy, I agree we need more people to share in the exchange of information, as well as passive readers. And i certainley dont want to stifle that, its just there is no easy solution to this complex situation we landowners are in. Yes we definately need to hear all sides of the equation, but so many are easily swayed by a good smooth line of Bull, then will cry and moan when things turn out wrong. I really want this to go well for all of us, i guess thats why i am so forceful with my words of caution.
We all lead such busy lives, many of us are fighting and going without many things, just to hold on right now, and to keep our property. No matter your personal financial situation, its always nice to have fresh new money to work with right.
I am aware of how i just keep beeting this drum to pieces in so many different threads, saying we need to do this right and have good protective lease language. And i also truly believe those that can and will hold out, can reap better financial reward from this. Good luck to all and Merry Christmas, Happy Holidays
BTW i cant weld to save my life, i guess i will have to bring my next project to you, lol
Consider attending the Southwest Coshocton Landowners Association (SCLA is a non-profit group) meeting on Thursday Jan 5th at St Anns Church Hall (7PM-9PM) in Dresdon, Ohio. Our group includes the 6 townships in Southwest Coshocton County and the three Townships (Jackson, Cass & Madison) in Northwest Muskingum County.
Can you follow-up and get the facts?
"Long term lease" means what? 10 years?
Can you get the names of the landowners or talk directly with them?
Did the landowners or a group actually sign a lease at those prices?
Sometimes individual landowners are offered significantly more per acre since they are the "doughnut hole" of a potentially good Drilling Unit.
If true ...
it is nice to know that those high values are currently being offered in Muskingum County area !