Curious going rate per acre for new lease agreement

Offer in Deersville area was $800 less per acre. Curious going rate right now for this area.  Thank you.   

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Permalink Reply by Joe C. on April 8, 2020 at 6:48am

County and State?

Permalink Reply by Joe C. on April 8, 2020 at 6:50am

Harrison County, Ohio?

Permalink Reply by Nicole on April 10, 2020 at 4:39am
Yes! So we leased two years ago $2000 acre/%20 royalty. We were approached to renew the lease at same terms of contract (extended from 2 to 3 years) but $1200 acre. We replied back we wanted to stick to at least the old lease agreement and we were told to think it over because they might not go for the original $2000 per acre. It’s done through EAP who took over Chesapeake.
Permalink Reply by Nicole on April 10, 2020 at 4:20am
Harrison County - Ohio
Permalink Reply by Nicole on April 10, 2020 at 4:37am
So we leased two years ago $2000 acres/%20 royalty. We were approached to renew the lease at same terms of contract but $1200 acre. We replied back we wanted to stick to at least the old lease agreement and were told to think it over because they might not go for the original $2000 per acre.
Permalink Reply by Joe C. on April 10, 2020 at 4:45am

Did you sign a lease with an option to extend for the same terms?

Permalink Reply by Joe C. on April 10, 2020 at 5:08am

I know the company well, Its Encino Energy going by EAP Ohio. It's not in their budget to pay big money for leases right now. This is happening all over the Appalachian Basin. Your better holding off for right now. 

Permalink Reply by ray schmidt on April 10, 2020 at 6:38am

i was in same boat last year.said same as you did because lease was about to expire. they ended up giving us the original rate. btw well is just outside of deersville on long road.

Permalink Reply by Joe C. on April 10, 2020 at 10:37am

Ray, After looking at the Ohio ODNR viewer, There is a producing unit along Long Road. It's called the AKERS Unit drilled by EAP Ohio. 

Nicole, is this were your located??

Permalink Reply by Nicole on April 10, 2020 at 3:56pm
Franklin and Stock Twp Actually contacted by DPS Land Svcs on behalf of EAP, LLC. It was a simple one page letter we had to sign. When asked he stated it was a continuation of the prior lease agreement just less per acre and longer (adding an additional year).
Permalink Reply by OhHenree on April 12, 2020 at 4:34pm
If you have representation have them check wording; but tell energy co that you want % of GROSS not as others have replied, they are getting % of NET. I cannot explain in quick reply but that is the only option, if no GROSS tell them to hike, unless you need the $/acre. Don’t be tobbed.
Permalink Reply by Nicole on April 12, 2020 at 5:11pm
My email is Nickyrb@sbcglobal.net -it’s hard to send lengthy replies on this page. Thank you OhHenree!

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