Washington County Lease

Hello,

I have about 8 acres in Washington County and my plot is about 3 miles from Noble County. I've heard Noble county is paying $3k to $5k per acre w/ the average around $3,400 per acre and 18% royalty.

 

I was offered $2,250 to lease my acres and 15% royalty. My neighbors appear to be accepting this offering so I'm assuming if I don't go w/ this company then I won't be able to go w/ anybody due to my small # of acres. Do you agree?

 

Also, the Landman said if I don't go w/ them I'll miss out on the money and the O&G company will just go around me. Can the O&G company just "go around me?" I thought they needed continuous acres all leased to drill.

 

Finally, since I'm so close to Noble county do you think $2,250 acre/15% royalty is fair? I'd really like to get the royalty up to 18% if possible.

 

Comments please.

Tags: County, Noble, Washington

Views: 455

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Replies to This Discussion

Permalink Reply by Luke Miles on June 28, 2012 at 3:42pm

Who is leasing in that area?

Permalink Reply by Michael Householder on June 28, 2012 at 11:02pm

Greg,

I know for certain that there are people in Washington County getting more than what you were offered, upfront bonus and royalty.

As far as drilling around you, yes they can technically do that, but they dont want to. They want every acre they can get. Also, many of our leases will probably get traded or sold, in order to create drilling units, since multiple drillers are vying for the same land.

This site has a lot of vauable info about the leasing and drilling processes. Read, read, read...

Michael

Permalink Reply by darren l on June 28, 2012 at 11:12pm

I live in washington county and the closer you are to Noble County the better.Have patience and hang in there.Better yet, join a landowner group.Check out Washington county group site.Sounds like offers ive been hearing from "flippers".

Permalink Reply by Steve Wagner on July 1, 2012 at 5:24pm
Sound advice! Check into a landowners group. I know there have been $3000/acre and 18% with a good landowner lease!

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