Recently this group has a bunch of new members but still has very little activity. How about ALL members sharing what they know is happening in Belmont County. Have you or any of your neighbors signed a lease? Have you or your neighbors been approached with any lease offers? Do you know of any landowner groups in Belmont County? What issues have you had to deal with in this process? Is anyone looking a pipeline right-of-way leases? What terms do you want in your lease when you do finally sign and why? The more information we share here with each other, the better prepared we will all be when we do sign leases and cash in on the mineral wealth under our lands in Belmont County.
Finnbear

PS - I am participating in the Smith-Goshen Landowners group, a landowner based, non-profit group. See http://hcolg.org/HowItWorks.html for an explanation of what a landowner non-profit is and how it works.

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$3k/acre IN THE BANK is fantastic. Good for you. Everything I hear about Hess says they are a good company. I assume you got decent lease terms? Make sure to do the requisite tax planning and then invest that money so it can work for you instead of you having to work for it.
Thank you Finnbear, I appreciate your kind words. I am a market hound, and definitely am investing, but extreme due diligence is required in these uncertain market times. My tax is a former trust/tax officer at Wesbanco, and he has been my tax guy for years. That is where a lot of people get into trouble, then when April 15th rolls around, and they historically paid little Federal/State income tax, it's a shock. My wife is from MD, and her great uncle would give our kids those Hess toy trucks for Christmas for years. Growing up here, I had known nothing about Hess. Kind of neat those four letters would come to mean so much years later.
It is driven by market forces, purported production number, results. That is why I was surprised Ches. revealed their Buell well production, for in the short-term all that does is up the ante among other companies vying for leases i.e. Exxon's new high in Belmont County. They the press was revealing Aubdry McClendon was looking for a JV or merger by the end of this year, his results being an incentive due to the phenomenal production numbers. We are due south of Cadiz/Buell. Is the Fairpoint area in the oil window? I notices the Buell well is not in the window shown on the DNR website, being more west. I did the cal. of the NG and liquid oil/NG and 77% of our royalty would be from liquids, IF enough is under there. Does anyone know what Kirk Porterfield  near Provident is bring in? I looked at tax maps, and he has over 400 acres- geesh.
Timing is everything. Look at far it has come from say 18 months ago. When people are contacted, the going market parameters at the time play a huge roll. These groups forming have the greatest leverage versus an individual land owner like myself. Have three kids and having a tight budget like most working-class people the offer we got was great, and we are happy. I am a very savvy investor and do not intend to buy bond, CD's, or a savings acct, but do not intend to plunge recklessly into the stock market. Where people get into trouble, regardless of the amount, is they spend like crazy, and forget taxes. I heard of a couple that went crazy, spent it all paying everything off, buying a new car, etc. but then had to get a loan to pay their taxes. Find out from a tax officer or attorney what you projected tax burden will be. My dad is retired with 30 years as a Trust Officer at Wesbano- I would be happy to refer anyone to him for a confidential assessment. His rates are ridiculously low, as he simply loves the work. He will do individual, family, and small business taxes- he is the master. He lives in St.C
Likely the ones who signed cheap will be the last ones drilled because it costs the company the least if they let those leases run out. When they have to pay a premium ($4950/acre?) for a lease, I believe those acres will be drilled first in order to protect those costlier investments.
Yes, very true.

I have a family member in Belmont County, but in Richland township and he is negotiating with Hess Oil who evidently bought out all the smaller drilling companies in the area.  He has had preliminary offers of around $5,000 but his group is negotiating for $7,000

 

Which group is he in?
I am not sure of the group name, but he is going in with Kirk Porterfield as their land is side by side. 
He also owns acreage out in Fairpoint and Hess said they wanted all of it. 
If they are giving him all the landowner protections he wants in a lease, he might go direct with them. Normally, the oil and gas companies make individuals take the company lease which is very one-sided in favor of the company. Hess is negotiating with the largest landowner group in Belmont County (Smith-Goshen) and that offer will be with a landowner friendly lease that has the protections needed for people who want to lease but want to keep and be able to enjoy their land in the future.

As far as lease terms, I would like to see the following agreements if at all possible (these were some of the terms listed in my friend's lease out in Guernsey County):

- The actual oil well should be placed no closer than 500 feet from any structure and no closer than 750 feet from a dwelling

- If the water well is disrupted by drilling procedures and the integrity of the water is compromised, the oil company will pay to have water lines run from the nearest city / village, etc.

- The lease is a 5 year term at the end of which, the oil company has the right to re-lease the gas rights for no less than the original lease offer.  At this time, the land-owner has the right to search for another company with better terms and if they find someone willing to pay more, they can re-negotiate the terms at that time.

- My friend in Guernsey is receiving 19% royalties on the production of the well in addition to her sign-on amount

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