I spoke to a rep at SEOLA today. He said they are currently talking to O&G Co.'s about their property in Washington Co. This includes the Waterford area properties but MAY not include land south of there. A rough guestimate is that there may be an offer on the table in about a month. Just FYI and nothing firm or official.
I'm sure there is still time to join this group if you are interested.
I have appx 8 acres in washington cty. Triad sent me a letter asking to lease 5 yrs for $2,000 acre plus 15% royalty.
Does this amount seem about right? Noble cty is right down the road and I thought they paid $4,000 an acre.
I'm flattered you think it's "my" landgroup. However, I'm just another landowner. I don't think anyone should just jump on those leases being "pushed" by those companies. It's not good for them or for others negotiating for higher prices and real protections for their land, even if it is just 8 acres.
I could have signed years ago for a fraction, but a nice gentleman at the ODONR warned me back then to get an attorney to look at anything I was offered, but also to be patient and careful. I took his advice, I waited, then when I heard about the current action I made some calls and found SEOLA. I'm very, very thankful I was patient now.
I personally think SEOLA is the best group that I've seen. However, that doesn't mean other groups won't do really well too, or even just hiring an oil and gas knowledgeable lawyer. I personally feel that going alone and signing a standard O&G written lease is a really bad idea. Even with only 8 acres.
Not sure why you think it's 1-2 years longer to wait either, I'm expecting maybe 2-3 months. I'd wait a lot longer than that for another 8 thousand. No negotiating rights? You really need to do some reading on their site if you think you are giving up any kind of rights. You are gaining rights.
Greg, I personally wouldn't sign one of those company leases. They are designed for their benefit only and there are few if any landowner protections. And the amounts, although not bad, aren't good either. I think you could get more if you join a landowner's association or hire an attorney and ensure your rights and your land are protected. There is so much info on this site that can help. I strongly suggest you take your time, do some research here and on other sites and be very careful.
Also, companies are taking advantage of the low lease activity due to depressed natural gas prices and floating out lowball offers. Better to wait until gas prices increase.
what is a good/acceptable offer in Washington Cty?
There hasn't been enough action in the county to really say yet. I agree with Angela on waiting. Just don't sign anything without an attorney, you'll regret it later.
Anything new here?
There are a few rumors around but nothing totally firm I believe. I'm hearing lease bonuses in Wash Co. for around 3k from a few sources. There are bits of other news you can see in the Washington Co., wall and forum. Sorry that's not much help. Nothing firm from SEOLA yet I believe.
How about now? txs
Wayne, SEOLA closed another deal in southern Noble Co., not sure why they haven't updated their site with the info yet though so until they do I can't share specifics.
They also recently went from 4 companies looking at Washington Co. to 5. The last I hear is a big player, but that's based on rumors. I think adding another O&G company in the pot slowed them down a bit but I'm hoping it will pay off. I heard that Aug 1 (coincidentally today) was a hoped date for deals to present to the landowners, but that was before the newest Co. joined.
So, nothing firm still, but good things seem to be brewing.
Did you attend the meeting last night? I heard no mention of being anywhere close to a deal for Washington County.