Hello Everyone,
When we first got the offer sheet from ILG, my reaction was this must be some kind of scam. I am finding out its real.
My wife & I have +/- 58 acres on Moore Ridge Rd just into Center Township (good road frontage.). Its looking like the best way for most of us to aproach this is to join a land group to pool our bargaining power. I'd be open to listening to opinions and willing to take suggestions that would guide us toward joining a land group.
My biggest concern is being left holding the bag, waiting too long. Can anyone out there help get us started in figuring out which way to turn?
Thanks in advance for any help you can provide.
Tags:
Yes our member have a draft copy in there hands now. Langs Community Center this is a old school house it hard to miss the best I can give you is Rte 255 and 6point Rd this would be the center of Langs.
John
Hi John,
I tried to find Langs OH ,, could it be spelled Laings? Where is this located from Woodsfield OH. I own land east of Woodsfield and west of Antioch in PERRY Township
Who would I contact about that meeting and the time.?
thanks
Jim Hupp
It's laudible to get 20K together (how many landowners?) and have a draft contract in the works. The lawyer will address the legal-ese that is so important. Is he also experienced in understanding the geology, the quality (not just quantity) of the addendums necessary to make this leasing contract specifically pertinent to your region? It's difficult to keep up with the rampant technology that has brought the Marcellus/Utica shales so far in such a short time. Adjustments to leasing contracts must be made as the entire picture is constantly changing. Our global economy, the foreign companies already involved in this picture are constantly tweaking the way the oil/gas business is conducted.
Hopefully your attorney and your group are experienced and savvy enough to play with the big boys, because ready or not that's what they will be doing.
J. L. Hancharick
4-County Leasing Group
E-mail:jlhanch@nc.rr.com
Leesa I just put a messge on your wall
John,
Thank You for the information and Just to clarify;
The ( Eastern Monroe) group is a separate group from;
( Des - SouthEast),( Jennifer-SouthEastern/Sola),( Bonnie -NorthEastern/ Nals) ?
You are a non-profit group?
Does your group have Legal representation for the land-owners, and if so, what are the terms of their fees?
How long have you guys been organized and is there a deadline to enroll in your group?
If I understand you correctly, You have a draft of a lease that is under legal counsel review ?
Thank you for bearing with me for these questions,
Jeff
Yes we are separate just landowners. Through our lease draft process we have legal counsel from with in the group. Legal fee's will be shared equality by members. We will need a attorney outside the group for counsel. We are non-profit group.
John
Just a thought:
2 groups within the same county ... may-be more? What is it they all want? Is it correct to believe that the shale formation is relatively similar throughout the county. For that answer do not rely on what a gas company tells you. Whether rights owners are sitting on the "mother-lode" or not, they'll hear what the companies want them to know.
The big bids are going to go the group with the most production units (640AC), or possibly to the group interested only in the #'s , i.e. $$$ per AC , royalty % and length of term. The latter may suffer when it learns that protections, benefits just aren't included in the lease. All that will be there is a listing of development and production mandates the company must abide by anyway due to government regulations. Yet these "protections" will be offered up like manna from heaven ...just for you. Guess again. Company leases are written by company lawyers and totally industry-friendly. Is that what your Monroe County groups want?
Non-profit? People giving assistance to a group receive compensation ... from legal counsel, to halls rented, to flyers and ads. At this stage only the landowners are not making a profit, but hopefully that won't last for long. Profit is not a dirty word when service is provided or something is supplied in return. Landowners lease resource AC, or AC for a right of way will profit. What group wants to be known as the non-profit group?
Wouldn't it be wiser to band together and present a strong front @ the negotiating table. Rushing into something that will affect your region till the sun no longer shines is not the way to go. Continue to learn all you can. Stay on this web-site. Don't be afraid to reach out to sources involved in this multi-state shale play from the beginning. Penn State's Marcellus Center for Outreach and Development gives great support across state lines. Get educated about WHAT you have, before you let a gas company tell you its VALUE.
Good Luck!
Jim we have a draft lease we are Eastern Monroe Landowners will email you a copy asap.
John
Ohio landowners catch on fast! From eastern PA, then central, then western PA, and now OH the gas play is rampant. Watching what goes on around you steps up your knowledge. The large companies want to stay ahead of landowners, keep the learning curve as flat as possible until great chunks of OGM (oil,gas, mineral) acres are signed up. Don't let your AC become some company's "cheap deal". We all learn from each other, and from the great websites available to us. If the internet is a valuable tool in helping you learn the value of your sub-surface AC and any other facet of this gas/oil rampage, please share what you learned w/others who don't have a computer. Know the source of your facts before you share them.
A good beginning for any group wanting to lease, is to gather as many leases as possible ... those used by other groups with successful results. One size, one listing of "wants" does not fit all ... does not fit every region. Take it slow and strive for solidarity of purpose. The bigger you get in membership and acreage, the stronger you become in negotiating prowess. Companies recognizing this will push towards splitting the membership. Landmen will come on strong with fabulous tales that are more hot air than substance. GROUPS NEED TO STAY TOGETHER. You have a good start.
J L Hancharick
4-County Group Coordinator, PA/NY
E-mail: jlhanch@nc.rr.com
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