Replies to This Discussion

Permalink Reply by Finnbear on April 11, 2012 at 1:12am

No. It was not completely accurate back in November when it was posted. The offer was only for selected parcels that Chesapeake wanted to finish drilling units. The deal was no longer available as of the first of December.

Permalink Reply by Shocked at SHELL on April 11, 2012 at 8:46am

Well now doesnt this set the market? and shouldnt everyone expect the same price IF NOT BETTER? What makes everyone elses property worth less?

Permalink Reply by Finnbear on April 11, 2012 at 9:27am

It set the market for fill-in parcels around current CHK holdings which allows them to finish building drilling units. Anyone in that situation who is approached by CHK in the future should ask for a deal that is at least equivalent.

Permalink Reply by LemmaB on April 11, 2012 at 3:45pm

How can you find out whether you've got such a fill-in parcel? We were approached by an energy company (not CHK) recently about two specific parcels of ours. Their representative paid a courtesy visit to inform us they were starting a title search on the parcels. They certainly won't tell us how badly they need those parcels. Is there any other way to find out how badly they need us? They completed the title search on several of our parcels and had a draft lease to us w/ cleared titles in two weeks. Is that fast or is that about average?

Permalink Reply by Finnbear on April 11, 2012 at 3:49pm

Assuming you are in Belmont County, search the Belmont County Recorder's website for leases on all the adjacent land in your neighborhood and see what leases were signed with who in the past 5 years or so.

Permalink Reply by Sharon on April 13, 2012 at 3:25pm

We have been approached also (in Belmont County, Somerset township); however, we could not come to an agreement.  We too were told our deeds were researched and we were clear back to 1914.  It was also implied that all around us were signed with Gulfport.  Are there any landowner groups currently operating in this area that are open for joining?

Permalink Reply by Mickgyver on April 13, 2012 at 3:59pm

i have heard some guy from some ohio river resources has been approaching various landowners in somerset township to finish a unit for gulfport but the lease is poor and not detailed well .

be careful of unknown landmen

Permalink Reply by Dan Warfield on April 13, 2012 at 4:24pm

Very true.  I have read the lease and wouldn't wish it on my worst enemy.  No well pad fee, as much gas storage as they want which would hold your ground indefinitely, etc.  If you cut out everything that was bad in the eight page lease, you might get one paragraph which would be positive...maybe, but that's a stretch.  They're not very serious offering this lease to landowners; more likely trying to pick up the desperate, the uninformed or the fool.

One landowner submitted/countered with a good, sound landowner friendly lease and committed that they would sign "that" lease with some limitations... no word back yet from Gulfport.

Permalink Reply by Mickgyver on April 13, 2012 at 4:40pm

it is sad that this is starting to happen now , they seem to be holding so much now they want to play games with the rest of the people's lives ,

chesapeake just leased rhino in harrison county for $6000 per  and then I saw they were back in the eagleford as well at $10k just last month as well .

as I have said too many jumped the gun and were not fortunate enough to be informed and now they have the ball in their court .

Permalink Reply by Dan Warfield on April 13, 2012 at 4:46pm

As long as you have control over your oil and gas rights, you are still ahead of the game... and that's all this is to them... just a game, you've got to treat it that way. 

I've said it before on GMS... "as long as you're saying no, you're still negotiating".  "Once you say yes, you are done".

Permalink Reply by Mickgyver on April 13, 2012 at 5:37pm

This is true it all comes down to how much will  it help you to lease now or hold out for something better later ,also your current age and how much you intend to help yourself or your family in the future .It is the landowners choices that make this unpredictable

if it is as good as it is supposed to be sooner or later they will try to lease most places that show potential . As it stands now they have enough leased to stay busy several years .

I was of the opinion that having coal rights intact would produce a better offer but not true in my case with only 47 acres .

As you said it is a game to those with the money to play for years . But hopefully everyone is content with their future options

everything works out eventually

best wishes to all still hanging in there .

Permalink Reply by Finnbear on April 14, 2012 at 9:30am

Who hold leases on the acres surrounding your 47? Are you in a coal mine area (underground) of the county?

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