Replies to This Discussion

Permalink Reply by Misty on February 8, 2014 at 9:32am

Hi you all,  I'm just providing you a update on my oil and gas lease offer.  My mortgage is owned by Freddy Mac.  90% of mortgages in the US are.  So, I would have to submit an application to have my gas and oil partially released, pay a $100.00 non refundable processing fee.  I would need a geological map or survey from the oil and gas company to show where the drilling will occur in relation to my structure and a certified copy of the recorded oil and gas lease must be returned to the mortgage servicer.  The approval process takes 30 to 90 days.  If they find out that you have a gas or oil lease without permission you are in technical default of your loan.  I am not signing any lease for my small .46 acre of land.  I'm posting this for those of you with mortgages.  Most people don't know there loans are owned by Fannie Mae or Freddie Mac.

Permalink Reply by cheliped on February 9, 2014 at 4:11am

I believe the same goes for selling your mineral rights

Permalink Reply by Judy McDaniel on March 19, 2014 at 4:19pm

Butler Co, Muddycreek Twp 6.46 A

Aug. 2013  $2000/acre non surface 15% less charges and costs 

Got lawyer who said he thought we could get better lease. Not so

Feb.2014  $1500/acre non surface 15% less charges and costs about the same lease $500 less per acre

Permalink Reply by smitty on September 18, 2014 at 2:36am

N. Butler County

Allegheny & Venango twps

Sept. 16, 2014

13% gross royalty

3000/acre bonus

We are thinking of pursuing this offer.

Is there any reason why we should hold off?

Permalink Reply by Geo5 on September 18, 2014 at 3:23am

Is that EM Energy?  If your looking for a gross royalty, i think that is about as good as your going to get, unless you have alot of acres.

Permalink Reply by smitty on September 18, 2014 at 3:40am

Thanks for responding.

Yes, EM Energy or Edgemarc.

We are insistent on gross as net seems to be an invitation to abuse.

Not sure what you mean by a lot of acres-we have 208.

A question for you. Is there a thread here that discusses involvement of lawyers acting on behalf of landowners in the leasing process?

Permalink Reply by Geo5 on September 18, 2014 at 5:09am

Jim L. just posted a nice statement in the lawrence county group about what happens when the gas companies get there areas defined, the price of leases goes down.  So, if you try to squeeze the gas company, you may end up with a lower offer in the future. 

There are threads talking about the lawyers, but i wouldn't know how to find them.  If your talking about the "dick landowners group", i would stay away from them.  I wouldn't join anybody that takes a % of your upfront money.  

Is your land surrounded by other EM Energy leased land, or is it near the Old Shell leases, now Rex Energy?  

Permalink Reply by smitty on September 18, 2014 at 5:40am

Land under lease with both those firms borders our 208 acres. In addition there is a property under lease with Chevron also bordering ours.

The EM pipeline ROW appears to be possibly either running very close to or actually through our farm-they just did a pipeline survey in the past couple weeks.

Since our area is leaning heavily towards EM being the major player, this offer may be the best we can get. 20/20 hindsight, we should have signed with Shell (3500/acre & 18%) a few years ago...

What Jim L. posted makes good sense.

Holding out at this point seems a risky gamble.

Permalink Reply by james on September 18, 2014 at 12:52pm

Smitty, do you have a landman contact for Edgemarc Energy? Thanks.

Permalink Reply by smitty on September 19, 2014 at 1:39am

Yes, we have been speaking with Bradley Lewis, BOP Land Services Landman.

Permalink Reply by james on September 20, 2014 at 3:01pm

Thanks, I own some acreage in Irwin township Venango county which is only a few miles from these town ships in Butler county, didn't know if they would be interested in leasing mine.

Permalink Reply by Chuck F on September 18, 2014 at 6:08am

Smitty,

I signed a "similar" (not supposed to disclose terms) lease with EM Energy, through SR Law, a while back.  Paid SR Law $100 per acre, for peace of mind, to handle Lease and Addendums. My much smaller peice of land is in Allegheny Twp.  It seems like EM will start producing that area once the pipline is completed. Hopefully within the next year.  SR Law contact info is: 724-794-2929.  631 Kelly Blvd., P.O. Box 67, Slippery Rock, PA. Worked with Attorney Amy Molloy.

Best of luck.

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