We live around the Somerton area of Belmont county, they will start drilling soon. Talk around here is that we should expect to get $500.00 an acre,they that is the least we will get for the royalty paid from the well,but this is just a rumor, talk around here. Is this crazy or what, has anyone heard of this payout?
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THEY SAY ANYWHERE FROM 100.00 to 1000.00 per acre per month. However it all depends on the agreement you signed. Don't spend it till you get it!
The royalty sum is contingent on many factors. Your acreage contribution to the unit, the total acreage in the unit, the number of wells completed and produced, and how much each well makes each day for the 30 day month. One last item, possible market enhancement / post production cost deductions, only if that is applicable to your lease arrangement.
I agree with you TM.........too many variables to get an accurate dollar amount. I did hear that Gulfport is planning several more well pads in that area soon. So this is good!!!
I agree with all of you, but that is the talk around here. I tell them till that well is drilled and producing and if they use the gas and you have a check in your hand the you will know.
My royalties were calculated with the following factors.The current price of gas.The number of people in my unit and the percent agreed to when we signed the lease.I had to wait 5 months for payment .
22 1/2 acres and the unit is approx 1200 acres.I will send the details to you after you accept me as a friend in your personal section.
Ok TM accept me as a friend and share with me please. Just kidding. Im gonna be in a unit which is being drilled in a week or so and anxious to hear what amounts might be in the ballpark. Unfortunately im dealing with chesapeake
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