Replies to This Discussion

Permalink Reply by Jeremy on May 12, 2011 at 5:52am

Sarah,

I'll give you what information I have available.  First, I also have property in Switzerland Twp but on the southern and western side of the Twp right on in to Adams Twp.  In December, 2010 there was a company by the name of Wishgard that was offering $2,000/acre and I think 15% royalty.  As I recall, they were keeping $160/acre to represent the group and a percentage of the royalty.  I'm pretty certain they signed up a fairly large group but to my knowledge the leases have not been paid.  I was contacted earlier this week by a gentleman representing them again and he said they are now offering $1,600/acre and 15% royalty and they supposedly have a buyer for any acreage they can acquire at that price.  I assume they will be taking a chunk of the signing bonuses again.  I did not sign with them the first time and will not again.  I don't think their services are worth giving up so much of the signing bonus per acre and a % of the royalty.  They don't own the property and I don't like the idea of giving them so much of my money.  Besides I really don't think they are getting that much more for the landowners than what we can do for ourselves.  There is another guy on this forum that I need to contact and he mentioned he should be able to get a whole lot more.  I spoke to another guy who has been in the industry for a long time and he believes prices will climb much higher in the next year or so once the wells are proven and results are out.  I wouldn't advocate being greedy but also remember once you sign the lease you have probably lost your mineral rights for a long, long time if not forever.  You get one chance to do this right and I suggest not settling for too little.  I would like to be part of a group with the right representation for the right price and I'm hopeful the one gentleman I spoke to who has 30 years experience will be willing to put together and represent a group for a fair fee.  I don't mind paying a company a small amount to represent a group but $160/acre and a percentage of the royalty is crazy in my opinion.

Jeremy

Permalink Reply by Sarah Rossell on May 12, 2011 at 6:14am

Jeremy,

Thank you very much for this information.

Are you aware of the meeting at the Clarington fire house on Friday night? Do you know what the intent of this meeting is about? I believe the company is Northeast Appalachian Land Services (?). My husband and I live in Colorado and plan to move to our new home in Monroe at the end of the year, so we are trying to keep up with what is going on via this website.

 

If you are willing, please keep in touch (I will as well) and let me know if we can help or if you hear anything important.

Thank you so much for your time :-),

Sarah

Permalink Reply by Jeremy on May 12, 2011 at 6:38am

I am 3 hours away from my property in Monroe and will not be making the meeting in Clarington.  However, I would like to know more about what they are offering.  Hopefully someone will update this forum with the meeting information.  I will try to keep you updated as to any information I have.

Jeremy

Permalink Reply by Des Wertheimer on May 12, 2011 at 4:26pm

I am holding the meeting. We currently are building a group in Monroe and Belmont and Guernsey. Our company has 16 years of industry experience and we welcome anyone who t come and gather information.