I would appreciate any info that I can get. We are in Summit County and there are Land Owner groups that support Portage and Stark but nobody is supporting Summit County.
We are currently engaged with Homeland Energy but if that does materialize as a plan B I was thinking of starting a landowners group. I don't know the first thing about creating a landowners group.
Can anybody point me in the right diretion is starting a landowners group?
Replies are closed for this discussion.
Pleasant View is associated with Wishgard and you probably want no part of anything either has to offer.
After I wrote this Blog I got in contact with Homeland Energy. I've persuaded t them to host a public meeting on January 10th @ 7pm at Springfield Baptist Church 1920 Krumroy Rd. Akron, Ohio. I do like how Homeworks. They market landowners as a group and find the best lease deal possible. The way they get paid is taking a 5% comission on a signed lease. I believe that they can do better than a private person or group. They have their own geologists and research and they know what is going on under the ground. They only make money if the landowner makes money.
Plus they audit the wells to make sure the proper royalties are being pad.
They also take a % of your royalty. That makes you a lifetime (and possibly longer) business partner with them. Do you know them well enough to enter into that kind of arrangement?
Giving up some of the signing bonus for representation is one thing if it get you a good lease. Giving up part of your future royalty income for the life of the well - now that's just plain foolish.
I have to disagree with Finnbar. Yes Homeland takes a percentage of my royalty. BUT if Homeland bring me a lease that has the royalty a couple points above whatever everybody else is getting, NOW WHO IS THE FOOLISH ONE!!!!
If Homeland doesn't bring a better all around lease I don't sign it and Homeland makes nothing. But if they bring me superior lease, I will be happy to pay them a percentage.
Finnbar doesn't know everything
Are you taking home at least a 20% gross royalty (with no deductions) after Homeland gets their cut?
I have NEVER claimed to know everything but I am glad to share what I have learned in the past couple years in dealing with this industry.
Finnbear - not bar
Hopefully Homeland does better in Summit than they did in Guernsey then... Their track record does not show that they can negotiate the results that you mentioned above Tim. They got the same royalties as the other groups that signed around the same time that they did (and the other groups did NOT pay a percentage of their royalties) & I believe the Homeland group received a few dollars less on the upfront... But as I have said to others... Whatever "YOU" feel comfortable with is what you should go with. Another key thing for Homeland was that they locked you into a commitment with them... The other groups there was no committment until you signed the actual lease, or the lease agreement. Then it was a commitment to the O&G company. But with Homeland you signed a commitment letter that you gave them the exclusive rights to market your O&G rights for a year. A lot can happen in a year!
Caveat Emptor... Should this not be Caveat Venditor?
If he's buying what Homeland is selling...
Please give me a call, I am also in Summit County, (Tallmadge Business & Copley Farm). We are starting a landowner group here and I can keep you posted of upcoming events. Tim Walsh, P.E., Cell: 330-351-0906.
We are planning an educational seminar on January 19, 2012 (Date to be confirmed) for the Copley Community Center to specifically talk about the power of Landowner Groups. Let me know.
Please keep us updated on when that meeting will be. We are interested in joining a landowners group in Summit County also. Due to our work schedules and us both working 50 miles away from home one way we have not had any time to go to any meetings BUT I do check this site at least once a week or more to see what is brewing. Currently, we are just sitting tight and not doing anything and just watching and listening. I will watch for your post on the seminar.
Jim and Carolyn