Meeting with WKGD

 Were any of you in attendance at the meeting with KWGD on Monday at the PLCC. I was there and was totally surprised by the number of people in attendance. What were your thoughts about the meeting? I found it to be very informative.

Views: 35242

Replies to This Discussion

Permalink Reply by W Moore on August 22, 2011 at 4:44am
I did not mean to cause any termoil in the discussion group or seem like I was downgrading Kwgd The Fairview group have all went together and created a full contiguous block this is probably why they got the money they got. No I have not seen the actual contract but I am working on that.I work with several people who have stated they recieved more money than whats being offered. Maybe it's just talk I don't know. People from Noble County , Guernsey and Belmont. So many people such as these attorney groups have poped out of the woodwork since this all began and they are not in it for nothing. Greed runs the entire world nobody cares about Quality anymore. Did the last lease really net 2700 Who would actually know in the politics? Just some thoughts.
Permalink Reply by scott peterson on August 22, 2011 at 4:51am
I personally interviewed one of the group members from  KWGD's first group that was paid last September in Carrol Cty who verified everything & said that everyone was highly pleased with how KWGD handled the transaction and the strength of the landowner friendly contract negotiated. He also verified that Chspk began drilling about three weeks ago in his unit.
Permalink Reply by Steven Gardner on August 22, 2011 at 12:47pm

Welcome Richard.. we are all here to learn as much as we can and the devil, as they say, is in the details. I've not heard of a lot of atty groups as much as the basic landowner group that finally gets a lawyer to close the deal... and the landman going door to door trying to pick off some cheap leases but I think that has eased up as people became more educated .. they haved moved to the south .. ahead of the wave ..

 

BTW.. good article on Ohio.com

Permalink Reply by W Moore on August 22, 2011 at 4:59am
I have a contract with KWGD in my hand it does look very good and I may still sign with them I am sure they are very good I have heard no wrong doing on there part at all.I just keep hearing these higher dollar amounts and wondering if they are true and still "shopping" a bit. The Fairview group that I speak with are very good people and would have absolutely no reason to make up this But I will wait to see the contract before I run off again!! Again my appoligies to the group.
Permalink Reply by scott peterson on August 22, 2011 at 5:11am
No problem at all Richard. I hope we all get a fat dollar amount & a solid lease no matter who we go with...........
Permalink Reply by Nelson Roe on August 23, 2011 at 3:22am

Richard,

Just out of curiosity... If you have not signed anything with KWGD, how did you get a copy of their lease?  Also, the dollar amount & royalty amount to be paid to this group is still yet to be determined.  They have not even sent the acreage out to bid yet.  So when the numbers start coming back, they could be in the ballpark of some of these higher offers.  Nobody knows for sure until the bid packets are sent out & the companies return their offers & terms.

Permalink Reply by scott peterson on August 23, 2011 at 3:45am
Exactly what I was thinking.........
Permalink Reply by scott peterson on August 23, 2011 at 3:47am
Richard, how many pages is the KWGD contract that you have?
Permalink Reply by Marc on August 23, 2011 at 5:00am

You strike me as pretty sharp, Nelson. Good to know there are plenty of smart people in the group, as well as leading it. 

Has KWGD given an indication at any of the meetings of how long the bidding process might take (at least getting the initial bids submitted from companies)? I have their information packet but perhaps they don't address this in meetings either. 

Permalink Reply by Nelson Roe on August 23, 2011 at 5:12am
Thank you, but I am still learning as well.  I have just been doing a good bit of research, reading, listening & absorbing since this all started bustling around here.  They have told us that the bid packets would be sent out to the companies within a week or two after the meeting tomorrow night.  From what they said at the last meeting it seems like there are a few companies that have already been in contact with them about the acreage in this group.  Pure speculation, but from the way it sounds, I don't think that the groups acreage will be out to bid for too long before something decent is returned.  However, that result is also in the hands of the group.  Because once the companies return their offers & terms, the group votes on which offer they want to accept (if they want/agree to any of them).  If there is nothing there that the majority of the group will accept, then I believe they continue to negotiate.  However, it was stated that in the previous groups, when the company came back with an offer, it was more or less a unanimous decision among the group members to accept (so that to me sounds like they get fairly good results on the first time out).
Permalink Reply by Nelson Roe on August 23, 2011 at 5:35am
As far as specific timeframes... I have not heard any of those being defined.  That may be something that is addressed in tomorrows meeting for group members.
Permalink Reply by Marc on August 23, 2011 at 5:59am
Got it. Sometimes you really need to be there to understand it, thanks for passing all this along.

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service