Would you lease your land for gas and oil, knowing what you know now?
How much lease bonus would you want? Do you feel you could trust an attorney to draw up a lease that would protect you?
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Replies to This Discussion
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Permalink Reply by JK on
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From all learned on here and other advice received from legal counsel, It's best to do your own research and do not be afraid to challenge anybody in any lease, gas lines, ROW, etc.
Yes you do need to keep counsel in check for your own sake.
I did find out counsel was going to 'take' a percentage.
That was taken out of any agreements.
Bottom line.
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Permalink Reply by craig on
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I would sign a lease to my liking, but I doubt the driller would. Trust an attorney, really? Their might be a few I'd trust, not many.
Bonus money isn't the most important thing, at least to me.
Read the language in say the agreement between CHK and any of their partners in a well to get a feel of what it will take to have a good lease.
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Permalink Reply by bo boboski on
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Yes, I would sign a lease today, But I now know way too much for any driller to ever sign the lease that I would have drawn up! I would also sell my mineral rights too, but the amount would be way more than any buyer would want to pay. Visiting this site about every day for the last 4 years has educated me way beyond the knowledge that any Oil&Gas co. would want a landowner to attain. So there is no use telling you what kind of bonus $,or royalty %,or lease wording I think would be fair for the owner of the minerals because the landman coming knocking on your door is not gonna like any of it. We are very lucky in this country, It's the only place in the world where the landowner not only owns the surface, but the minerals underneath. Those belong to us. If someone wants to go after them,it should be no different than if you had timber. the timber buyer has to build roads,cut the trees haul em out to the sawmills, split the profit with the landowner. The % that is "FAIR" for the mineral owner ,after ALL expenses, IMO, should not be less than 25% But good luck with that!!!
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Permalink Reply by Donald on
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I think it would be risky sighing a lease with any G/O company's today. the langue does not seem to have much meaning to the G/O cos.
until the land owners get help from the Fed or State Gov. I think the G/O cos. will do what ever they want. the best lease written means little to them. I do not like Gov. involvement in most circumstances, but this is the exception. the land man said don't worry about the bonus money, just wait until you start getting your checks. doesn't seem to work that way.
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Permalink Reply by Joseph-Ohio on
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I would 'try' to.
Been waiting for an opportunity to 'try' for quite awhile.
Whether or not we could arrive at an agreement remains a question in my mind.
Would need to have a number of land / landowner considerations included and a 'sign on bonus' / 'advance delay rental' (or whatever it's negotiated to be called) as who knows how long before a royalty paying well would be developed.
Would definitely try to work with them - to be sure.
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Permalink Reply by paleface on
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Sure why not.I think a better question would be if you voted for Obama would you do it again after seeing what he has done in the last eight years?
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Permalink Reply by Donald on
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Not sure how to read your answer, are you saying you would lease your G/o rights? also are you saying you voted for Obama ?
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Permalink Reply by Tim Tarr on
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Yes, would sign again. Might get changes to "Enhancement Clause". Good luck with that!
Paleface,
I blame spineless RINO's in Senate more than POTUS. They were given a majority in Senate to stop this stuff and have actually made it easier for Him. >80% of GOP Senators need defeated in their primaries.
McConnell needs recalled if KY law allows for it!! Like to see the Speaker defeated in in Ohio!!!!
The only thing that has a chance of stopping this train Wreck is 38 Conservative State Houses. Take back the Rule of Law.
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Permalink Reply by 0ym9x5ag7ury2 on
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If you are Donald Trump, the Oil and Gas industry is a perfect case for the need for Separation of Corporation And State. US citizens are being bull dozed by corporations running the country.
We may get another chance to sign a lease since Chesapeake won't have the money to pay the Secondary Terms of our leases. They are using our leases as a Mortgage with the Duetch Bank so they will try to hold on to as much as possible.
Read the ODNR Ohio Revised Code for Forced Pooling and you'll find it's a better deal than being leased with no laws protecting you when your producer decides to Pull A "Chesapeake" on you ($16 an acre per month regardless of how much product is taken). The ODNR would be forced to enforce the law since you were Force Pooled per the law.
With the Ohio Supreme Court ruling that Not Being Paid A Royalty isn't grounds for breaking a lease, I can't imagine why anyone would want to sign a lease.
All landowners need to start a letter writing campaign to request those we elected to write laws to protect landowner mineral rights and laws that favor landowners over Big Oil & Gas. Until then, I won't be signing up again.
Every Ohioan under production by CHK is paying to have their NGLs taken. That's enough proof that we are being left out of the Oil & Gas program in Ohio. From the county to the federal government, they are all aware of this but for some reason Oil & Gas theft against landowners has never been an issue in the US.
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Permalink Reply by Joseph-Ohio on
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So....wait to be force pooled is your advice ?
Force Pooled into what kind / quality of lease do you suppose is my question to you Ron ?
Do you think it would be of a 'landowner cognizant' variety ?
Or do you think it would be Oil & Gas E & P leaning ?
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Permalink Reply by G.H. on
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Yeah, for anyone saying they wouldn't sign or they would demand language and royalty so unattractive to the oil and gas company that they wouldn't agree, what are you suggesting? Wait to be force pooled? Drill a well yourself? Let the minerals go undeveloped and therefore never see ANY money out of it? I believe that is called "cutting off the nose to spite the face." Sounds like some of you are out to prove who has the biggest balls. No one should get screwed with their lease, and it's very unfortunate that it sometimes happens, but some of these responses are just silly. Best of luck to those folk. You've got to get informed and make the best of your situation and options to try to negotiate a good lease, and not sign it until you're comfortable with it - but also remember that if you want money out of it you are probably going to have to concede some things to the party getting that oil and gas out for you. You're not going to find someone who will extract it for free. Just my 2c.
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