Hello all, I know many had signed lease before me, so i would think Id be hearing about some renewals by now. My 5 years is up in April. Anyone heard of Gulfport holding up to the renewal arrangement, or they just letting them go? Guernsey County Madison Township.
I have also noticed this forum has went a bit cold, are there other forums that have more activity for Guernsey?
Yea Chuck, not much talking going on lately. Probably due to the lack of any activity round here. But with all the leases expiring this year,I'm sure this forum will soon see some jabber. There is a rig drilling in Guernsey again too, and another due to show up any day. Some Guernsey countians post on the main forum instead of this one.
The KWGD Gulfport leases will up for renewal in late October.
I'll refresh your memory and say I am the guy from NC that holds a lease with my brothers.
We signed with Shell in Oct. 2011.Minerals in Londonderry twp.
A few days ago, a Mr. Whesterfield from Purple Land Resouces in N. Canton came to my brother's door, saying he is representing Ascent Resources and wanted to sign a year lease.
Non figures were discussed and the visit short.
My sister-in-law is having serious health problems and my brother ask for another time to talk.
It is 8 months till the lease is up and we found it strange we would be getting an offer for a year lease so soon.
What do you or anyone else think about this?
(that is no figures were discussed---this site will not let me correct!)
'I'd say if they want a 1 year ,Lease extension,instead of 5 year, it should be worth 1/5 th of what the 5 year re-lease should have been. I recall that was $5000. per acre. So it should be $1000. per acre to extend the lease 1 year. They must be planning on drilling within a year? At least it's better than what Eclispe has been offering people to extend their leases. They want to extend 5 years,but want to pay in 1 year installments.
Thanks for the thoughts Bo!
You're with Ascent, too, aren't you?
Have you been givin' an offer or been contacted?
I remember you saying, in a past comment that you, too, were located in our area, leased with Ascent.
(Guernsey County------Londonderry Twp.)
Makes sense what you said but what do you think about holding out for a 5 year, same terms as original lease?
Have no idea if they are planning to drill.
Do these oil companies,usually contact, soon to be expired lease owners, 8 months before the lease will expire?
My lease says 180 days they can start negotiating a new lease.
This is 2 months earlier than expected.
When I know something about the offer, I will share it with y'all.
Thanks for everyone's ideas on this.
I was leased with Shell, Now Aubrey. I kind of like the one year lease Idea. Easier on Taxes! And maybe they will continue to re-new the new lease every year. Cheaper for them, if they aren't gonna drill right away. I also have 2 separate leases with Chesapeake. Not in a drilled unit yet. Maybe Aubrey is feeling out the landowners with leases coming due,to see what the mindset is?
Until my brother and the rep from Purple Land Resources, come together, we won't really know what the deal is.
Is Aubrey(AEU/Ascent) seroiusly wanting to offer us a renewal or they just feeling us out to what we expect to be offered?
I feel like you, Aubrey McClendon has his "feelers" out!
8 months in advance before the lease runs out.
Anyone else out there, that signed with AEU//Ascent, been contacted and want to share some info with us all?
Have mineral rights only. located---------north of Rt. 22/west side of Skullfork Rd.--section 21 on the ODNR map.
Land is owned by K&R ConservationLLC.
ncman, which company currently holds your lease?
Ascent ResourcesLLC------Mr. McClendon
I believe for now, those days of $5000/ac to lease are gone.