Replies to This Discussion

Permalink Reply by DrillBABY on July 12, 2011 at 3:45am

Washington County is definately just getting started, I knew the leasing was trending this way but didn't really expect it till much later this year. I actually like the position Washington County is in. A little off the beaten path for now, I believe in the amount of time before the leasing really starts to take off in this area lease rates will be much more established in other areas and will give landowners in this area a better idea of the offers they should be expecting. I'm like you Matt I could never see myself agreeing to a lease until next year, we basically have no idea what value to put on it yet.

Permalink Reply by Matt Kiggans on July 17, 2011 at 3:19pm

Just saw this article in the Marietta times. The headline was:

"Shale drilling scams target area landowners"

However I see no mention of any "scam". Your thoughts?

 

http://www.mariettatimes.com/page/content.detail/id/537328/Shale-dr...

Permalink Reply by Angela Smith on July 17, 2011 at 11:04pm

I read the article over the weekend and had the same comment - where's the scam?   The article suggests that activity in Wash. co. is building.  Earlier you mentioned that you thought prices would reach

$2000/acre.  I think that might be the low end depending on your particular situation.

Permalink Reply by DrillBABY on July 20, 2011 at 6:26am

My father and myself attended a second Landowners meeting in Beverly, OH last night. Wishgard LLC was present distributing leases to landowners for only Waterford and Adams townships in western Washington County. They wouldn't disclose the name of the Oil and Gas operator behind the lease. The offer was as follows: $1,000/acre and 15% net royalities with an option for 5 years @ $1250/acre with payment due with 120 days of execution. There seemed to be a lot of aggravation throughout the crowd as the agreement called for $1250/acre 2 weeks prior. Reducing the offer seemed to turn a lot of people off and may have cost the propestive Lessor alot of the interested landowners present. However, I will admit I was impressed by the 3 full pages of addedums attached to the lease. Seemed to be very conscious of landowner rights as a whole but as always more can be done. The rep. from Wishgard did a good job at confusing me last night. Early in his speel he said the reasoning for lowering the offer was that he was told that his contact geologist said "Washington County wasn't as good" however, later he went as far to say they are moving full force into Washington and Morgan Counties which seemed very contradicatary to me. I suppose it was a ploy to get people signed up. Regardless, we walked away not feeling very comfortable with the situation.

Permalink Reply by Angela Smith on July 20, 2011 at 10:28pm

We attended Wishgard's meeting also, but for Monroe County. The offer there was 1600/acre. We were advised by our attorney to wait 12-18 months to see what develops in both Wash. and Monroe (we have interest in both). We did sign-up with Southeast Landowner's Assoc. They are suggesting much higher numbers. There is no obligation. They are not fully organized in Wash. Co. yet but they have a big presence in Monroe. I would get several opinions about the geologist's comment concerning Wash. Co. potential.

Permalink Reply by Matt Kiggans on July 26, 2011 at 5:29am

Western land services is holding a meeting at the Marietta Holiday inn wednesday night. They are the leasing agent for PDC. The times are 12,2,4,6 p.m.

Permalink Reply by DrillBABY on July 26, 2011 at 5:45am

Matt, was this is the Marietta Times?

Permalink Reply by Angela Smith on July 26, 2011 at 7:52am

Who is PDC?

Permalink Reply by Matt Kiggans on July 26, 2011 at 8:02am

I do not know if it was in the paper or not,they sent me a letter. Angela, see the fourth post of this thread, I believe you asked this question earlier. I dont think they are offering what most of us are expecting, but im going to attend just to get some more information.

Permalink Reply by Angela Smith on July 26, 2011 at 11:08am

I get the Marietta Times and did not see an announcement.  Can't attend so please update us if you go.  Sorry, I did ask about PDC and found the answer. 

Permalink Reply by Matt Kiggans on July 29, 2011 at 2:39am

I attended the PDC meeting wednesday night. They were offering 1000 per acre this time(up from $200 2 months ago). They didnt go into many more details such as royalty % etc. They were interested in Morgan, Noble,Monroe,and the north east portion of Washington. I've heard about 2 meetings next week, one with Ohio land consultants,and one with Wishguard. Does anyone have the details for these two meetings?

Permalink Reply by Monroe Co Landowner on August 1, 2011 at 8:26am

If Des Wertheimer is holding out for 4k-5k does that mean we will be able to sign a lease contract for $4000. Beccause if that is true I am sure there are alot of other landowners that would like to sign at 4k. Instead of waiting. Shirley

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