Crawford County, You are now HOT! What will you do?

Near as I can tell, right now we have 3 options;

   1 &2)  Join a group.

                a) NWPA Landowners

                or

                b) CX energy.

 

   3) Negotiate on your own.

 

To start this discussion, are there any other options out there?

Views: 20812

Replies to This Discussion

Permalink Reply by Michael P. Davidson on September 27, 2012 at 4:15am

Linda, my property is on the border so my initial 14 acres I signed with the mercer group but because it is actually in Crawford I got pushed to the Crawford group. I was supprised that when accepted the Mercer deal was everything in Mercer County because the deals before that were more specific areas then proceeded to another then another (Mt Jackson 1 then 2 then 3 then the Mercer 4.

well that is what I'm saying but unfortunately for some of the initial 25k may not have gotten the deal after the other 25-35k chimed in afterwards.  just my theory

Permalink Reply by Linda A on September 27, 2012 at 2:30am

hi Jesse - who is CX?

We have an 'offer' on the table, and countered with a couple stipulations (no shallow wells and only Utica and Marcellus are in play), but it is not a 'closed' deal, meaning if someone comes along and makes another deal, and record those leases, then this first 'signing/deal' is invalid.

It's speculation and flipping - we understand that, but it's an offer...

You heard about Mercer County?  They only accepted part of their group - were specific about where they wanted to be.  MANY very disappointed people there...

Permalink Reply by Linda A on September 27, 2012 at 3:27am

In Vernon township.  We have a large area of state game lands fairly close by.  Am sure those may come into play with our land's location...

What does CX stand for?  Who is heading it up? 

I understand the 6% up front but how does the 8% work? 

Permalink Reply by Linda A on September 27, 2012 at 6:46am

will do Jesse - will keep you in mind.  Is your land 'locked' into CX?

Could you reveal some details with your 'agreement'?

Fee structure, as I understand, is 6% if join the group before an 'offer' and 8% for those they let in the group after the offer?

Also, what is the % of gas royalties?

Up front fees for joining?  per acre? + ????

thanks

Permalink Reply by Linda A on September 27, 2012 at 7:38am

Well, I may be wrong, but this agreement appears to leave everything up to them and that you must accept the offer they recommend?  Please tell me what I missed. 

No indication of even share of royalty?  My opinion, but this appears to be very one-sided and not necessarily mutually beneficial.  Don't want to tell you what to do, BUT...

Permalink Reply by Jim Litwinowicz on September 27, 2012 at 7:46am

Linda, I work with Cx. We are having a meeting tonight in Franklin at the Quality Inn at 6:30 PM where they will answer all of your questions. If you can't make it, I will be happy to answer your questions, just email me at landownerslease@hotmail.com

Permalink Reply by Linda A on September 27, 2012 at 7:54am

Jim, was Cx the group who negotiated the Mercer County deal?

I'm all for groups like these, and think the work and initiative put forth into get them going is a benefit for landowners who may choose just to let others 'negotiate' their deals.  Many do not have the desire or expertise to do so.    However, the wait and see has been beneficial for us...  That's the great thing about free enterprise!!!

Our land also abuts a gentleman who has thousands of acres under lease for other purposes.  We have been 'keeping in touch' via various people to see what he is doing.

Permalink Reply by Jim Litwinowicz on September 27, 2012 at 7:59am

Yes it is the same company. And as to your previous posts there are no fees to join, no obligation to sign any lease we negotiate, no fee even if you sign a lease we negotiated but don't get paid.

People have lots of options and each must decide the best choice for them and their family.

Permalink Reply by Linda A on September 27, 2012 at 8:07am

@ Jesse oh, yes, that's who I referenced...

@ Jim - thanks for the clarification, that sounds much better for the group...

Have some acreage in Trumbull county/Lordstown and they are JUST forming a group - $5 per acre plus $150 for expenses?  (estimated expenses could be about $10-15K)  Jim, what expenses would there be?  Attorney fees for reviewing the lease agreement and what else? 

So this group in OH is charging for their work while you only get paid if you get a lease?    It appears the OH group is approaching from a different view.

Permalink Reply by Linda A on September 27, 2012 at 8:40am

yes it will and am sure that is why he is considering everything before making any kind of deal.  He would be smart (and he is) to either form his own g/o company or invest in one operating in this area. - better than paying that huge tax bill! 

Permalink Reply by Linda A on September 27, 2012 at 3:12pm

will do -

just an fyi - received our lease agreement, reviewed by our facilitator's attorney and we are to each to contact the Lessee independently - it's actually, an agreement to extend willingness to extend the agreement with a driller...

Permalink Reply by Jim Litwinowicz on September 27, 2012 at 8:00am

Jesse, we have had several meetings in Crawford and will soon schedule more. You are always welcome to attend one and ask any questions you like.

RSS

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

Badges  |  Report an Issue  |  Terms of Service