Jefferson County, OH leasing

According to Marcellus Drilling News, people in Jefferson County, OH are getting offers as high as $6000/acre and 20% for leases with Ascent and Gulfport.  These numbers are impressive and reminiscent of offers in the sweet spot during the boom.  Hopefully this is a good indicator of what's to come in the near future.  Thoughts?  Anyone who can confirm these numbers?

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Permalink Reply by Renee E. Dorsey on September 8, 2017 at 5:53am

Yes - call Larry Piergallini.  (And I grew up in Bloomingdale, Ohio but now live in Shadyside, Ohio - so I watch this group for my dad, who is still at home.)

Permalink Reply by Darlene Nelson on September 8, 2017 at 6:36am

I have him checking the status of the old lease and cleaning that up...He charges 100.00 per acre to handle a new lease deal..That could be expensive.I live in S.C. now.

Permalink Reply by Dott on September 4, 2017 at 1:18pm

GH,

I have contacted about 5-6 Lawyers concerning leases over the past few years and the cost ranges from $250.00 to 375.00 an hour.

That being said whether it is for a lease ratification or a new lease I highly recommend use of a Lawyer no matter what the cost.  You can

save yourself  a lot of money and heartache in the end.  Once the Oil and Gas starts flowing you will be satisfied that you did all that you could to

get a good deal.  Even with a lease ratification the O&G companies will leave things out that you don't even realize until it is too late.

Permalink Reply by G.H. on September 5, 2017 at 3:42am

I totally agree that having an attorney is worth it, I just thought that 10% in Darlene's case was too much.  Thanks for the info on hourly rates for attorneys, I'm sure that will be useful to some people on here.

Permalink Reply by martin on September 6, 2017 at 1:34am

just got a call yesterday someone looking for 5 or more acres to lease in Jefferson co. We have over 100 but its still under lease with another company. His offer to me was 20% gross 7k an acre.. pm me if you want his name and number.

Permalink Reply by Darlene Nelson on September 6, 2017 at 5:46am

What company?

Permalink Reply by NETTIE b on September 6, 2017 at 10:35am

Our property is in jefferson county ....we were offered 1500 per acre and 15%

Permalink Reply by martin on September 7, 2017 at 12:41am

I cant solicit on this site but if you pm with your township and acreage I have a contact number . 

Permalink Reply by jett on September 7, 2017 at 4:53am

Nettie, That seems like a very, very low offer both in price/acre and royalty% !!!  I'm just guessing here but I'd figure the terms of the lease might not be so great either.

Permalink Reply by G.H. on September 7, 2017 at 5:39am

Nettie, is it possible that is $1500 per acre per year?  Delay rental-style lease?  $1500 per acre as a paid-up lease does seem very low.

Permalink Reply by NETTIE b on September 7, 2017 at 9:32am

Is the lease written on a per year Base? I thought it was the total. I'll look again...and reply with what I find.

Permalink Reply by NETTIE b on September 7, 2017 at 10:24am

Guess what I'm asking is, are the numbers you are stating the amount  the companies offer when they send the first lease offer, so is it unusual for them to start this Low? Why would they only offer one person this low if they are normally offering others more? It is a paid up lease for 5 years. Thank you for your help!

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