I have a family member who has some land in Columbiana county and is looking to lease. Does anyone know price per acre and royalty% ?? Thanks
I think $5,850 is highest I have heard and 18%. Group that was signed up near end of last year. Others will certainly post for sure.
5850 with 20% gross
Word on the street: As of last week CHK has dropped their offering to 2500/acre. Don't know what the percentage. Maybe setting precedent for the two big lawsuits they are involved in over the Anschutz leases?
what are the Anschutz leases?
Dr j, may have newer information but a neighbor of mine cold called the local DPS penn office last week and they mailed an offer of 4200 per acre and she has 7. She knew we got more so she didn't like that offer. As many here say, it's better to be in a group, but if you want more control over exactly what happens to the property and go as a single to get these included it seems the offer is less $$. When we were looking around the new year the offer with restrictions was 4 grand than I was told "but maybe I can do just a little better" :0) That was out of a landmans mouth.
I've also heard of some land being kicked back but thats been going on for months now for different reasons.
If you are looking for any numbers to call, friend me and I can send you the people we worked with. I'm pretty sure we cannot list for profit lawyers or companies in this section.
I've read conflicting things concerning Chesapeake, one was they were going to stop leasing after the first quarter (I read that late 2011) but than I read they are planning to continue heavy in the wet gas areas (last week but what counties are they talking about). Time will tell.
I agree completely with your estimates on money per acre and royalty %. You are also right about being patient and waiting for the right time to jump. You only get one chance to get it right so make sure its the way you want it.
I just got home from an instructional meeting for a land collective which just received verification the majority of the property was granted drilling leases. Majority of property was Columbiana County based.
Just as interesting as were the bonus and royalty terms was info on what may lies ahead with future submissions of property groups.
In summary: "It doesn't look all rosy for the "home team".....
Send me an email for more details. Advise how many acres and where the property is located.
Later. email: [email protected]
EVERYONE MAKES A MISTAKE ONCE IN A WHILE.....
A BIG Whoops by DPS landmen got corrected: Missed a few acres, CHK built drilling site 1/2 mile from school and was ready to drill when they found "a hole in the cheese" of their track.......Uh Oh............
All got made right with a "pay-up" to current going rate bonus. What a difference a year makes, eh?
Kudos to the United School Board for limiting the granted drilling right to ONLY the Utica shale strata!
Makes me proud to have been a United Eagle! [email protected]