Replies to This Discussion

Permalink Reply by HB on November 8, 2011 at 4:58am

Frank, my wife & I drove down from Geauga county last night to attend.  The first hour was taken up by a presentation from Bea Wolper on estate planning.  It was informative and food for thought.  Then Larry Cain talked about the coal mining issues.  It looks like they are in the final stages of getting agreement with Murray, ODNR, and Smith-Goshen that will allow horizontal drilling to effectively drain most if not all the land under Murray's coal holdings.

Then Larry & Dick Emmons talked about the draft lease some and answered a few specific questions.  Bottom lines is that there is no timeline but, with the lease draft now written, they can move forward more quickly.  I didn't get the impression that signing will come to pass this year, but it could happen I suppose.  From a tax and estate-planning point, I think it would now be better to wait until next year to get bonus $$.

Permalink Reply by Finnbear on November 8, 2011 at 5:04am

Even if there was a signing this year, no payments would be issued until after the new year. It takes 60-90 days on average to do title work which must be completed before payment is made.

Permalink Reply by Belmontlandowner on November 8, 2011 at 5:40am

"It looks like they are in the final stages of getting agreement with Murray, ODNR, and Smith-Goshen that will allow horizontal drilling to effectively drain most if not all the land under Murray's coal holdings."

What does this mean? My understanding is that coal rights are separate from mineral rights if it is so distinguished in the deed. I don't understand what this agreement entails. I am suspect of anything that includes Murray Coal.

Permalink Reply by Finnbear on November 8, 2011 at 6:26am

There have been rumors in the county that Murray Energy would stand in the way of a lot of potential oil and gas exploration by not allowing drilling through the coal veins they are mining. Smith-Goshen took a proactive approach to this issue and has been working with ODNR to forge an agreement that allows oil and gas exploration and coal mining to work side by side.

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