Replies to This Discussion

Permalink Reply by Campbells Farm on March 6, 2011 at 3:53am

Your lease & ours is now recorded on the Recorder's office website.  Hopefully checks will be forthcoming soon.  Man, I wish I had 25 acres like you guys!  Good for you!

 

Permalink Reply by jeannie on March 6, 2011 at 5:08am

Yes, I saw that. My daughter and son in law bought 5 acres off of us back in 04 and built a house next to us. So they got

Permalink Reply by Campbells Farm on March 25, 2011 at 12:40pm

Let me know when you get your check.  We haven't gotten ours yet....just wondering how long it's gonna take.  Will keep you posted.

Permalink Reply by jeannie on March 25, 2011 at 1:28pm

No we haven't received ours yet either. However they did say 90 days and we signed Jan. 31st.  So we weren't really expecting it until late April, hope it's sooner. A friend of ours called last night, he had 2 seperate leases and he received one check and the other is 2 wks. late they were told only 60 days so he was going to call and see where his check is.

Permalink Reply by Eric Budd on March 31, 2011 at 12:17pm

It doesn't look like this reserve company has filed any leases at the courthouse.  i have heard that they are going to try to sell the leases to chesapeak for a profit. has anyone signed with reserve?  what happens if i lease to reserve and then chesapeak doesn't buy my lease from reserve?

Permalink Reply by James Harber on April 1, 2011 at 4:20am

i will check into it further to get you the specifics, but just yesterday i was talking with someone who knows what is going on in Stark county and he told me someone had been offered $4,200. a acre to lease. One thing you have to understand, Chesapeake is not the only player in the coming exploration boom toe Eastern Ohio. They may be the big dog on the block now, but their days are numbered and more and more companies are on the move to this area. Suply and demand is king, and they know that as other engery companies come into the area, prices are going up. Why would they offer someone $4,200. a acre, if there wasn't some really good potential here. They wouldn't, they are spending billions leasing here in Eastern Ohio. One thing you need to know, is that the energy company makes $1 billion dollars off each and every well they drill that is a producer over the lifetime of the well in production. I'll get back to you on who got the offer that I am speaking about.

Permalink Reply by Eric Budd on April 1, 2011 at 8:30am

$4200 per acre sounds like a pretty high number, a number i would gladly accept of course.  sounds like most people are signing up with ches. for around 700-1500 per acre around here in stark county, why would it jump so much higher all of the sudden?  i would like more information about who is offering that kind of money, and what area that was in, if you can get that information and don't mind sharing it with us 

Permalink Reply by Allen Kraft on April 2, 2011 at 4:29am

They won't be offering $4,200 unless there are some results out.  They must have preliminary results themselves, or heard of some competitor results.

 

Just a thought, but people may take a chance to wait for signing up their land on the possibility of very good results of drilling.  The better the results, the better the terms.  Every shale play has a history of landowners getting much more if results were very favourable.  The risk is that if results are not favourable, you won't get as much, or sometimes nothing at all.  Depends on the results.  And the first few wells don't necessarily spell out the future with certainty, as there is a fair amount of science that goes into the completions process.  Sometimes it takes a half dozen wells to get the techniques correct.  Every shale has it's own unique code to break.

 

Just a thought, as most here seem almost over eager to sign up ASAP.  And the landmen like that, it suits there needs.  Generally, the amounts paid will go up in time.  Just some observations from an energy investor of the last 11 years. 

Permalink Reply by James Harber on April 2, 2011 at 1:57pm

Allen, very good advice, as I have been in the oil and gas industry for the past 25 years and have gone through more than 7 booms. I always suggest that landowners just bide their time and  wait. There is always lots of thoughts and predictions on the front end, but time will tell the real story. the Utica is far more valuable than the Marcellus, but ever with the Marcellus play it has taken from 2007 to step into the real play which started in 2009 and is just now really just touching the tip of what is really there.

Permalink Reply by Allen Kraft on April 15, 2011 at 10:12am

Agreements to lease land in Trumbull County started at a few hundred dollars an acre and have grown to $5,000, Marchese said. Recent buyers have paid as much as $20,000 an acre for land in the Texas’s Eagle Ford shale area and the Bakken shale in North Dakota, which produce oil and gas liquids, Hanold said.

 

http://www.bloomberg.com/news/2011-04-14/chesapeake-may-seek-partne...

Permalink Reply by Shari Rose on June 28, 2011 at 11:26pm

I spok4 with Marchese about that article and she said she was misquoted.  She said she had heard of 5,000 offers elsewhere.  I also wrote the journalist and he said he had no other evidence other than the Marchese misquote.

Permalink Reply by james m kiko on April 19, 2011 at 3:28am

go for the #1500, there paying it. stark county min township

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